Line (NYSE:LN) Sets New 52-Week Low at $27.53

Line Corp (NYSE:LN)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $27.53 and last traded at $27.55, with a volume of 24771 shares. The stock had previously closed at $28.07.

Several research analysts have issued reports on LN shares. Zacks Investment Research lowered Line from a “hold” rating to a “sell” rating in a research note on Tuesday, February 19th. Jefferies Financial Group reiterated a “buy” rating on shares of Line in a research note on Friday, March 15th. Finally, Evercore ISI started coverage on Line in a research note on Monday, February 25th. They set an “outperform” rating for the company. Three research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $3,500.00.

The company has a quick ratio of 2.36, a current ratio of 2.40 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $6.70 billion, a P/E ratio of -172.31 and a beta of 1.33.

Line (NYSE:LN) last announced its earnings results on Wednesday, April 24th. The technology company reported ($0.05) EPS for the quarter. The business had revenue of $455.95 million for the quarter. Line had a negative return on equity of 2.52% and a negative net margin of 1.58%. On average, equities analysts forecast that Line Corp will post -2.01 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in LN. Citigroup Inc. grew its holdings in shares of Line by 222.4% during the fourth quarter. Citigroup Inc. now owns 1,983 shares of the technology company’s stock worth $68,000 after purchasing an additional 1,368 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Line by 135.0% during the first quarter. Quadrant Capital Group LLC now owns 4,179 shares of the technology company’s stock worth $143,000 after purchasing an additional 2,401 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Line during the first quarter worth $206,000. PNC Financial Services Group Inc. grew its holdings in shares of Line by 13.5% during the first quarter. PNC Financial Services Group Inc. now owns 6,037 shares of the technology company’s stock worth $213,000 after purchasing an additional 717 shares during the last quarter. Finally, ARK Investment Management LLC boosted its holdings in Line by 80.8% in the first quarter. ARK Investment Management LLC now owns 7,166 shares of the technology company’s stock valued at $252,000 after acquiring an additional 3,203 shares during the last quarter. Institutional investors own 3.32% of the company’s stock.

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About Line (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.

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