LINE (LN) Lifted to “Outperform” at Macquarie
Macquarie upgraded shares of LINE (NYSE:LN) from a neutral rating to an outperform rating in a report issued on Tuesday, MarketBeat reports.
Several other brokerages have also recently issued reports on LN. Zacks Investment Research cut LINE from a hold rating to a sell rating in a report on Wednesday, January 31st. CLSA raised LINE from a sell rating to an underperform rating in a report on Thursday, January 11th. Mizuho cut LINE from a neutral rating to an underperform rating in a report on Wednesday, January 31st. Finally, Jefferies Group cut LINE from a hold rating to an underperform rating in a report on Thursday, April 19th. Four analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $47.00.
Shares of LN opened at $36.01 on Tuesday. LINE has a 1 year low of $32.69 and a 1 year high of $47.81.
Large investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP purchased a new stake in LINE during the 4th quarter valued at $553,000. Aperio Group LLC raised its holdings in LINE by 46.2% during the 4th quarter. Aperio Group LLC now owns 75,250 shares of the technology company’s stock valued at $3,084,000 after buying an additional 23,789 shares during the period. Greenleaf Trust purchased a new stake in LINE during the 4th quarter valued at $206,000. Liberty Mutual Group Asset Management Inc. purchased a new stake in LINE during the 4th quarter valued at $221,000. Finally, Eqis Capital Management Inc. raised its holdings in LINE by 67.5% during the 4th quarter. Eqis Capital Management Inc. now owns 35,819 shares of the technology company’s stock valued at $1,468,000 after buying an additional 14,435 shares during the period. Institutional investors own 3.24% of the company’s stock.
LINE Company Profile
LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and related services primarily in Japan, Taiwan, Thailand, Indonesia, and Hong Kong. The company offers LINE, a cross-platform messenger application that enable users to communicate through free instant messaging, and voice and video calls, as well as serves as a smart portal to its other applications and services.
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