LINE Corporation (LN) Short Interest Down 42.9% in October

LINE Corporation (NYSE:LN) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 993,989 shares, a drop of 42.9% from the October 13th total of 1,740,464 shares. Based on an average daily trading volume, of 433,461 shares, the short-interest ratio is presently 2.3 days.

A number of institutional investors have recently bought and sold shares of the stock. Carmignac Gestion boosted its stake in LINE Corporation by 42.2% in the 2nd quarter. Carmignac Gestion now owns 1,376,724 shares of the technology company’s stock worth $47,882,000 after purchasing an additional 408,617 shares during the period. Macquarie Group Ltd. boosted its stake in LINE Corporation by 1.5% in the 3rd quarter. Macquarie Group Ltd. now owns 797,176 shares of the technology company’s stock worth $28,858,000 after purchasing an additional 11,634 shares during the period. Goldman Sachs Group Inc. boosted its stake in LINE Corporation by 8.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 327,004 shares of the technology company’s stock worth $11,373,000 after purchasing an additional 25,830 shares during the period. Citigroup Inc. boosted its stake in shares of LINE Corporation by 0.9% during the 2nd quarter. Citigroup Inc. now owns 304,708 shares of the technology company’s stock valued at $10,598,000 after buying an additional 2,692 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of LINE Corporation by 73.0% during the 1st quarter. Bank of America Corp DE now owns 94,552 shares of the technology company’s stock valued at $3,636,000 after buying an additional 39,908 shares during the period. 3.67% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on LN. ValuEngine upgraded shares of LINE Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Zacks Investment Research raised shares of LINE Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. UBS AG raised shares of LINE Corporation from a “sell” rating to a “neutral” rating in a research note on Tuesday, October 31st. Deutsche Bank AG raised shares of LINE Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Finally, BNP Paribas lowered shares of LINE Corporation from a “hold” rating to a “reduce” rating in a research note on Friday, October 27th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. LINE Corporation presently has an average rating of “Hold” and a consensus price target of $39.00.

LINE Corporation (NYSE LN) opened at $42.55 on Friday. LINE Corporation has a 52 week low of $30.90 and a 52 week high of $44.16.

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LINE Corporation Company Profile

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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