Line (NYSE:LN) Hits New 1-Year High at $48.12

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Line Corp (NYSE:LN)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $48.12 and last traded at $47.44, with a volume of 61498 shares changing hands. The stock had previously closed at $40.78.

LN has been the subject of several research reports. Credit Suisse Group upgraded shares of Line from an “underperform” rating to a “neutral” rating in a report on Wednesday, September 11th. ValuEngine downgraded shares of Line from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th. Finally, Zacks Investment Research downgraded shares of Line from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $3,500.00.

The company’s 50 day simple moving average is $37.22 and its 200 day simple moving average is $33.17. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of -305.38 and a beta of 1.10. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.98 and a quick ratio of 1.94.

Large investors have recently bought and sold shares of the business. Matthews International Capital Management LLC lifted its position in Line by 31.6% in the second quarter. Matthews International Capital Management LLC now owns 2,518,200 shares of the technology company’s stock valued at $70,862,000 after acquiring an additional 605,100 shares during the last quarter. Renaissance Technologies LLC increased its stake in Line by 196.9% in the second quarter. Renaissance Technologies LLC now owns 174,300 shares of the technology company’s stock valued at $4,905,000 after purchasing an additional 115,600 shares during the period. Henry James International Management Inc. increased its stake in Line by 30.4% in the third quarter. Henry James International Management Inc. now owns 140,300 shares of the technology company’s stock valued at $5,042,000 after purchasing an additional 32,681 shares during the period. D. E. Shaw & Co. Inc. increased its stake in Line by 314.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 29,773 shares of the technology company’s stock valued at $838,000 after purchasing an additional 22,583 shares during the period. Finally, ARK Investment Management LLC increased its stake in Line by 129.0% in the second quarter. ARK Investment Management LLC now owns 16,412 shares of the technology company’s stock valued at $462,000 after purchasing an additional 9,246 shares during the period. Institutional investors and hedge funds own 3.40% of the company’s stock.

Line Company Profile (NYSE:LN)

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.

See Also: Index Funds

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