Line (LN) Hits New 12-Month Low at $27.66

Line Corp (NYSE:LN) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $27.66 and last traded at $28.08, with a volume of 2021 shares. The stock had previously closed at $28.45.

Several brokerages recently commented on LN. Zacks Investment Research raised Line from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. CLSA reaffirmed a “buy” rating on shares of Line in a research report on Wednesday, October 3rd. Jefferies Financial Group raised Line from an “underperform” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, TheStreet cut Line from a “c” rating to a “d+” rating in a research report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Line has an average rating of “Hold” and an average price target of $47.00.

The firm has a market cap of $6.63 billion, a PE ratio of 93.03 and a beta of 2.10. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.91 and a quick ratio of 2.86.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Henry James International Management Inc. bought a new position in shares of Line during the third quarter valued at $2,981,000. Envestnet Asset Management Inc. bought a new position in shares of Line during the third quarter valued at $3,040,000. Tower Research Capital LLC TRC lifted its holdings in shares of Line by 212.2% during the third quarter. Tower Research Capital LLC TRC now owns 5,301 shares of the technology company’s stock valued at $223,000 after acquiring an additional 3,603 shares during the period. Allianz Asset Management GmbH acquired a new stake in shares of Line in the third quarter valued at $882,000. Finally, Credit Suisse AG increased its stake in shares of Line by 1,178.6% in the third quarter. Credit Suisse AG now owns 131,630 shares of the technology company’s stock valued at $5,546,000 after buying an additional 121,335 shares in the last quarter. 2.99% of the stock is owned by institutional investors.

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Line Company Profile (NYSE:LN)

LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and related services primarily in Japan, Taiwan, Thailand, Indonesia, and Hong Kong. The company offers LINE, a cross-platform messenger application that enable 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.

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