Jefferies Financial Group Upgrades Line (LN) to “Hold”

Jefferies Financial Group upgraded shares of Line (NYSE:LN) from an underperform rating to a hold rating in a research report released on Tuesday morning, The Fly reports.

A number of other equities analysts also recently commented on LN. Zacks Investment Research raised Line from a sell rating to a hold rating in a research report on Saturday, October 6th. CLSA raised Line from an underperform rating to a buy rating in a research report on Wednesday, June 27th. ValuEngine raised Line from a hold rating to a buy rating in a research report on Thursday, June 28th. UBS Group raised Line from a neutral rating to a buy rating in a research report on Wednesday, July 18th. Finally, JPMorgan Chase & Co. upgraded Line from a neutral rating to an overweight rating in a research note on Thursday, June 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $47.00.

Shares of Line stock traded up $0.27 on Tuesday, reaching $36.00. 200 shares of the company were exchanged, compared to its average volume of 65,673. Line has a 1-year low of $34.56 and a 1-year high of $47.81. The company has a market cap of $8.66 billion, a PE ratio of 119.10 and a beta of 1.48.

A number of hedge funds have recently bought and sold shares of LN. Hillhouse Capital Management Ltd. lifted its stake in Line by 14.5% during the second quarter. Hillhouse Capital Management Ltd. now owns 1,207,763 shares of the technology company’s stock worth $49,603,000 after purchasing an additional 152,900 shares during the last quarter. Jane Street Group LLC lifted its stake in Line by 484.3% during the second quarter. Jane Street Group LLC now owns 110,163 shares of the technology company’s stock worth $4,524,000 after purchasing an additional 91,309 shares during the last quarter. OLD Mission Capital LLC lifted its stake in Line by 150.6% during the second quarter. OLD Mission Capital LLC now owns 49,578 shares of the technology company’s stock worth $2,036,000 after purchasing an additional 29,792 shares during the last quarter. Stifel Financial Corp purchased a new stake in Line during the first quarter worth approximately $988,000. Finally, Aperio Group LLC lifted its stake in Line by 34.9% during the second quarter. Aperio Group LLC now owns 89,424 shares of the technology company’s stock worth $3,673,000 after purchasing an additional 23,126 shares during the last quarter. Hedge funds and other institutional investors own 3.07% 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, stickers, and voice and video calls, as well as serves as a smart portal to its other applications and services.

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