CSat Investment Advisory L.P. trimmed its stake in Line Corp (NYSE:LN) by 4.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,690 shares of the technology company’s stock after selling 2,472 shares during the quarter. CSat Investment Advisory L.P.’s holdings in Line were worth $1,370,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of LN. Wells Fargo & Company MN grew its stake in Line by 103.5% in the second quarter. Wells Fargo & Company MN now owns 2,527 shares of the technology company’s stock valued at $71,000 after purchasing an additional 1,285 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Line by 51.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,965 shares of the technology company’s stock valued at $113,000 after purchasing an additional 1,348 shares during the period. ARK Investment Management LLC grew its stake in shares of Line by 80.8% in the 1st quarter. ARK Investment Management LLC now owns 7,166 shares of the technology company’s stock valued at $252,000 after purchasing an additional 3,203 shares during the period. Bank of Montreal Can grew its stake in shares of Line by 2.9% in the 1st quarter. Bank of Montreal Can now owns 12,303 shares of the technology company’s stock valued at $433,000 after purchasing an additional 351 shares during the period. Finally, Lenox Wealth Management Inc. grew its position in Line by 19.2% during the 2nd quarter. Lenox Wealth Management Inc. now owns 22,509 shares of the technology company’s stock worth $633,000 after acquiring an additional 3,628 shares during the last quarter. Institutional investors and hedge funds own 3.46% of the company’s stock.
Shares of NYSE LN traded up $0.12 during trading on Friday, hitting $37.51. 38,059 shares of the company traded hands, compared to its average volume of 59,166. The business’s fifty day moving average is $34.83 and its 200 day moving average is $32.52. Line Corp has a fifty-two week low of $27.04 and a fifty-two week high of $43.63. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.08 and a quick ratio of 2.05.
Several research firms have issued reports on LN. Zacks Investment Research downgraded Line from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Goldman Sachs Group raised shares of Line from a “sell” rating to a “neutral” rating in a research note on Monday, June 24th. ValuEngine raised shares of Line from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Finally, Credit Suisse Group raised shares of Line from an “underperform” rating to a “neutral” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $3,500.00.
LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and life and financial services primarily in Japan, Taiwan, Thailand, and Indonesia. It operates through two segments, Core Business and Strategic Business. The company offers LINE, a cross-platform messenger application that enables users to communicate through free instant messaging, stickers, and voice and video calls, as well as serves as a smart portal to its other applications and services.
Read More: What is insider trading?
Receive News & Ratings for Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Line and related companies with MarketBeat.com's FREE daily email newsletter.