The LINE Corporation (LN) Shares Up 12.7%

The LINE Corporation (LN) Shares Up 12.7%

LINE Corporation (NYSE:LN)’s share price shot up 12.7% during trading on Wednesday . The stock traded as high as $42.80 and last traded at $41.45. 1,687,355 shares were traded during mid-day trading, an increase of 1,080% from the average session volume of 143,006 shares. The stock had previously closed at $36.79.

Several research firms have commented on LN. Zacks Investment Research upgraded LINE Corporation from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Wednesday, September 27th. Deutsche Bank AG upgraded LINE Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, ValuEngine downgraded LINE Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 14th. Four analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $39.00.

The firm’s 50 day moving average is $36.14 and its 200 day moving average is $36.14. The company has a market capitalization of $9.14 billion, a P/E ratio of 73.10 and a beta of 0.45.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Carmignac Gestion lifted its stake in shares of LINE Corporation by 42.2% in the 2nd quarter. Carmignac Gestion now owns 1,376,724 shares of the technology company’s stock valued at $47,882,000 after acquiring an additional 408,617 shares during the last quarter. Macquarie Group Ltd. bought a new stake in shares of LINE Corporation in the 2nd quarter valued at about $27,321,000. ANTIPODES PARTNERS Ltd lifted its stake in shares of LINE Corporation by 32.7% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 361,234 shares of the technology company’s stock valued at $12,564,000 after acquiring an additional 89,000 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of LINE Corporation by 8.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 327,004 shares of the technology company’s stock valued at $11,373,000 after acquiring an additional 25,830 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in shares of LINE Corporation by 0.9% in the 2nd quarter. Citigroup Inc. now owns 304,708 shares of the technology company’s stock valued at $10,598,000 after acquiring an additional 2,692 shares during the last quarter. 3.71% of the stock is owned by institutional investors.

About LINE Corporation

LINE Corporation is a Japan-based company mainly engaged in the operation of LINE business portal business. Its LINE business portal segment includes communication and content service and advertising service. Communication and content service provides communication, contents and other services, such as LINE Pay, LINE FRIENDS and LINE Mobile.

Related posts

Leave a Comment