Line Corp (NYSE:LN) has been given a consensus rating of “Hold” by the twelve ratings firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $3,500.00.
A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Line from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Credit Suisse Group downgraded Line from a “neutral” rating to an “underperform” rating in a research note on Thursday, March 14th. ValuEngine cut Line from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Line in a research report on Friday, March 15th.
Several hedge funds have recently modified their holdings of the company. Hillhouse Capital Advisors Ltd. acquired a new position in Line in the 4th quarter worth about $41,197,000. Credit Suisse AG grew its position in Line by 1,178.6% in the third quarter. Credit Suisse AG now owns 131,630 shares of the technology company’s stock worth $5,546,000 after acquiring an additional 121,335 shares during the period. Envestnet Asset Management Inc. purchased a new position in shares of Line during the third quarter worth $3,040,000. Henry James International Management Inc. acquired a new stake in shares of Line in the third quarter valued at $2,981,000. Finally, Matthews International Capital Management LLC raised its stake in shares of Line by 17.0% in the fourth quarter. Matthews International Capital Management LLC now owns 286,700 shares of the technology company’s stock valued at $9,779,000 after acquiring an additional 41,700 shares in the last quarter. 2.68% of the stock is owned by institutional investors and hedge funds.
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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