Jane Street Group LLC purchased a new stake in Line Corp (NYSE:LN) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,854 shares of the technology company’s stock, valued at approximately $735,000.
Other institutional investors have also added to or reduced their stakes in the company. Financial Gravity Companies Inc. purchased a new stake in Line in the fourth quarter valued at about $113,000. Liberty Mutual Group Asset Management Inc. purchased a new position in shares of Line in the fourth quarter worth about $221,000. First Trust Advisors LP purchased a new position in shares of Line in the fourth quarter worth about $257,000. Stifel Financial Corp purchased a new position in shares of Line in the first quarter worth about $988,000. Finally, Deutsche Bank AG raised its stake in shares of Line by 199.2% in the fourth quarter. Deutsche Bank AG now owns 40,688 shares of the technology company’s stock worth $1,667,000 after purchasing an additional 27,088 shares during the last quarter. Institutional investors own 2.53% of the company’s stock.
Several research analysts have recently issued reports on the company. CLSA upgraded Line from an “underperform” rating to a “buy” rating in a research note on Wednesday, June 27th. ValuEngine upgraded Line from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded Line from a “sell” rating to a “hold” rating in a research note on Wednesday, April 25th. Jefferies Financial Group cut Line from a “hold” rating to an “underperform” rating in a research note on Thursday, April 19th. Finally, Macquarie upgraded Line from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 24th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.00.
Line (NYSE:LN) last posted its earnings results on Wednesday, April 25th. The technology company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.12). The company had revenue of $449.83 million for the quarter. Line had a return on equity of 2.83% and a net margin of 2.74%.
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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