State Street Corp boosted its holdings in shares of Line Corp (NYSE:LN) by 76.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,154 shares of the technology company’s stock after purchasing an additional 7,004 shares during the quarter. State Street Corp’s holdings in Line were worth $581,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Wells Fargo & Company MN increased its holdings in shares of Line by 103.5% in the second quarter. Wells Fargo & Company MN now owns 2,527 shares of the technology company’s stock worth $71,000 after purchasing an additional 1,285 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Line during the 3rd quarter valued at approximately $104,000. JPMorgan Chase & Co. increased its stake in Line by 51.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,965 shares of the technology company’s stock worth $113,000 after acquiring an additional 1,348 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Line by 2,503.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 4,113 shares of the technology company’s stock worth $145,000 after acquiring an additional 3,955 shares in the last quarter. Finally, OneAscent Financial Services LLC purchased a new stake in shares of Line during the 2nd quarter worth approximately $229,000. 3.42% of the stock is currently owned by institutional investors.
LN has been the subject of a number of recent research reports. Jefferies Financial Group upgraded shares of Line from an “underperform” rating to a “hold” rating in a research report on Tuesday, November 26th. ValuEngine downgraded shares of Line from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $3,500.00.
Shares of NYSE LN traded down $0.03 during trading hours on Tuesday, hitting $49.07. 48,893 shares of the company traded hands, compared to its average volume of 102,444. Line Corp has a 12 month low of $27.04 and a 12 month high of $51.97. The company has a current ratio of 1.98, a quick ratio of 1.94 and a debt-to-equity ratio of 1.04. The company’s 50 day moving average price is $48.57 and its 200 day moving average price is $39.96. The stock has a market capitalization of $11.85 billion, a price-to-earnings ratio of -306.69 and a beta of 1.25.
Line (NYSE:LN) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported ($0.28) EPS for the quarter. Line had a negative net margin of 9.72% and a negative return on equity of 11.98%. The firm had revenue of $535.41 million for the quarter. Equities analysts anticipate that Line Corp will post -1.75 EPS for the current year.
Line Profile
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.
