Lenox Wealth Management Inc. cut its holdings in Line Corp (NYSE:LN) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,182 shares of the technology company’s stock after selling 327 shares during the quarter. Lenox Wealth Management Inc.’s holdings in Line were worth $797,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of LN. Wells Fargo & Company MN lifted its stake in Line by 103.5% in the second quarter. Wells Fargo & Company MN now owns 2,527 shares of the technology company’s stock valued at $71,000 after acquiring an additional 1,285 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Line in the third quarter valued at approximately $104,000. JPMorgan Chase & Co. raised its position in shares of Line by 51.5% in the second quarter. JPMorgan Chase & Co. now owns 3,965 shares of the technology company’s stock valued at $113,000 after purchasing an additional 1,348 shares during the period. Quadrant Capital Group LLC raised its position in shares of Line by 2,503.2% in the third quarter. Quadrant Capital Group LLC now owns 4,113 shares of the technology company’s stock valued at $145,000 after purchasing an additional 3,955 shares during the period. Finally, OneAscent Financial Services LLC bought a new position in shares of Line in the second quarter valued at approximately $229,000. Hedge funds and other institutional investors own 3.44% of the company’s stock.
A number of research firms have recently commented on LN. ValuEngine lowered shares of Line from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th. Credit Suisse Group raised shares of Line from an “underperform” rating to a “neutral” rating in a research report on Wednesday, September 11th. Finally, Zacks Investment Research lowered shares of Line from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Line currently has a consensus rating of “Hold” and a consensus price target of $3,500.00.
LN stock traded down $0.94 on Friday, reaching $39.83. 401,004 shares of the company were exchanged, compared to its average volume of 82,515. Line Corp has a 12 month low of $27.04 and a 12 month high of $40.98. The stock’s fifty day moving average price is $37.07 and its 200 day moving average price is $33.08. The firm has a market capitalization of $9.22 billion, a PE ratio of -248.94 and a beta of 1.10. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.98 and a quick ratio of 1.94.
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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