LINE Corporation (LN) Cut to “Reduce” at BNP Paribas

LINE Corporation (NYSE:LN) was downgraded by investment analysts at BNP Paribas from a “hold” rating to a “reduce” rating in a research note issued to investors on Friday, October 27th, The Fly reports.

A number of other brokerages also recently commented on LN. Zacks Investment Research downgraded LINE Corporation from a “buy” rating to a “sell” rating in a research report on Wednesday, October 11th. ValuEngine cut LINE Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. Finally, Deutsche Bank AG upgraded LINE Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.00.

LINE Corporation (NYSE:LN) traded down $0.98 during midday trading on Friday, reaching $42.55. The company’s stock had a trading volume of 201,900 shares, compared to its average volume of 266,385. LINE Corporation has a 52 week low of $30.90 and a 52 week high of $44.16.

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A number of hedge funds have recently made changes to their positions in the stock. Comerica Bank grew its holdings in LINE Corporation by 1.3% during the first quarter. Comerica Bank now owns 12,460 shares of the technology company’s stock worth $441,000 after acquiring an additional 164 shares during the period. Advisor Group Inc. grew its holdings in LINE Corporation by 40.8% in the third quarter. Advisor Group Inc. now owns 4,637 shares of the technology company’s stock valued at $168,000 after purchasing an additional 1,344 shares during the last quarter. Citigroup Inc. grew its holdings in LINE Corporation by 0.9% in the second quarter. Citigroup Inc. now owns 304,708 shares of the technology company’s stock valued at $10,598,000 after purchasing an additional 2,692 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in LINE Corporation by 11.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 29,059 shares of the technology company’s stock valued at $1,011,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Eqis Capital Management Inc. grew its holdings in LINE Corporation by 19.7% in the third quarter. Eqis Capital Management Inc. now owns 21,384 shares of the technology company’s stock valued at $774,000 after purchasing an additional 3,518 shares during the last quarter. 3.67% of the stock is currently owned by hedge funds and other 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.

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