Thornburg Investment Management Inc. reduced its position in shares of LINE Corporation (NYSE:LN) by 22.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 870,196 shares of the company’s stock after selling 249,956 shares during the period. Thornburg Investment Management Inc.’s holdings in LINE Corporation were worth $29,595,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Capital World Investors acquired a new stake in shares of LINE Corporation during the third quarter worth $28,089,000. Jennison Associates LLC acquired a new stake in shares of LINE Corporation during the third quarter worth $16,591,000. Hillhouse Capital Management Ltd. acquired a new stake in shares of LINE Corporation during the third quarter worth $16,301,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of LINE Corporation during the fourth quarter worth $9,177,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of LINE Corporation during the third quarter worth $5,753,000. 4.69% of the stock is currently owned by institutional investors.
Shares of LINE Corporation (NYSE:LN) traded up 0.44% during midday trading on Tuesday, reaching $32.04. The company’s stock had a trading volume of 357,433 shares. The company has a market capitalization of $6.98 billion and a P/E ratio of 103.35. The stock has a 50 day moving average of $33.81 and a 200-day moving average of $39.71. LINE Corporation has a 1-year low of $31.21 and a 1-year high of $51.48.
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LN has been the topic of a number of analyst reports. Zacks Investment Research lowered LINE Corporation from a “hold” rating to a “sell” rating in a report on Saturday, October 29th. Morgan Stanley lowered LINE Corporation from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 25th. Macquarie lowered LINE Corporation from an “outperform” rating to a “neutral” rating in a report on Thursday, October 27th. Jefferies Group LLC reaffirmed a “hold” rating on shares of LINE Corporation in a report on Tuesday, November 29th. Finally, Deutsche Bank AG lowered LINE Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 26th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold”.
LINE Corporation Company Profile
LINE Corporation is a Japan-based company mainly engaged in the operation of LINE business portal business. Its LINE business portal segment includes communication and content service and advertising service. Communication and content service provides communication, contents and other services, such as LINE Pay, LINE FRIENDS and LINE Mobile.
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