Baillie Gifford & Co. increased its position in shares of Line Corp (NYSE:LN) by 0.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 703,439 shares of the technology company’s stock after buying an additional 653 shares during the period. Baillie Gifford & Co.’s holdings in Line Corp were worth $27,054,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management bought a new stake in Line Corp during the third quarter worth $101,000. Bank of Montreal Can bought a new stake in Line Corp during the first quarter worth $119,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Line Corp during the fourth quarter worth $204,000. FNY Partners Fund LP bought a new stake in Line Corp during the fourth quarter worth $255,000. Finally, Eqis Capital Management Inc. bought a new stake in Line Corp during the first quarter worth $362,000. Hedge funds and other institutional investors own 4.69% of the company’s stock.
Shares of Line Corp (NYSE:LN) traded up 0.22% during trading on Wednesday, reaching $36.87. The company’s stock had a trading volume of 170,973 shares. Line Corp has a 12-month low of $30.90 and a 12-month high of $51.48. The stock’s 50-day moving average is $34.87 and its 200-day moving average is $35.11. The stock has a market cap of $8.08 billion and a P/E ratio of 111.39.
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A number of analysts have recently weighed in on the company. Nomura upgraded Line Corp from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 31st. Goldman Sachs Group Inc restated a “neutral” rating on shares of Line Corp in a research report on Saturday, April 29th. Instinet upgraded Line Corp from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research downgraded Line Corp from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Finally, CLSA downgraded Line Corp from an “underperform” rating to a “sell” rating in a research report on Wednesday, April 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold”.
About Line Corp
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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