LINE Corporation (LN) Raised to “Neutral” at UBS Group AG (USA)

UBS Group AG (USA) upgraded shares of LINE Corporation (NYSE:LN) from a sell rating to a neutral rating in a research note published on Tuesday, The Fly reports.

A number of other brokerages also recently commented on LN. BNP Paribas downgraded shares of LINE Corporation from a hold rating to a reduce rating in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of LINE Corporation from a buy rating to a sell rating in a research note on Wednesday, October 11th. ValuEngine downgraded shares of LINE Corporation from a hold rating to a sell rating in a research note on Friday, July 14th. Finally, Deutsche Bank AG raised shares of LINE Corporation from a hold rating to a buy rating in a research note on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $39.00.

Shares of LINE Corporation (NYSE:LN) traded down $0.20 during midday trading on Tuesday, reaching $41.88. The company’s stock had a trading volume of 111,319 shares, compared to its average volume of 308,699.

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Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. purchased a new position in LINE Corporation during the second quarter worth about $197,000. Ameriprise Financial Inc. purchased a new stake in shares of LINE Corporation in the 1st quarter valued at approximately $605,000. Goldman Sachs Group Inc. raised its stake in shares of LINE Corporation by 8.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 327,004 shares of the technology company’s stock valued at $11,373,000 after acquiring an additional 25,830 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of LINE Corporation by 2,416.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 23,933 shares of the technology company’s stock valued at $832,000 after acquiring an additional 22,982 shares during the period. Finally, OxFORD Asset Management LLP purchased a new stake in shares of LINE Corporation in the 2nd quarter valued at approximately $584,000. 3.66% of the stock is currently owned by institutional investors.

About LINE Corporation

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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