The Jefferies Group lowers the Stock rating of Line Corp (LN)

The Jefferies Group lowers the Stock rating of Line Corp (LN)

Line Corp (NYSE:LN) was downgraded by equities researchers at Jefferies Group from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other analysts have also weighed in on LN. Deutsche Bank AG lowered Line Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, October 26th. JPMorgan Chase & Co. began coverage on Line Corp in a research note on Wednesday, August 24th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley began coverage on Line Corp in a research note on Monday, August 8th. They issued an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Line Corp currently has an average rating of “Hold”.

Shares of Line Corp (NYSE:LN) opened at 41.38 on Thursday. The firm has a market cap of $8.99 billion and a P/E ratio of 176.84. The firm’s 50-day moving average is $45.46 and its 200-day moving average is $43.35. Line Corp has a 1-year low of $36.01 and a 1-year high of $51.48.

Several hedge funds have recently made changes to their positions in LN. Nationwide Fund Advisors purchased a new stake in shares of Line Corp during the third quarter worth approximately $1,432,000. CIBC Asset Management Inc purchased a new stake in shares of Line Corp during the third quarter worth approximately $4,200,000. FNY Managed Accounts LLC purchased a new stake in shares of Line Corp during the third quarter worth approximately $339,000. First New York Securities LLC NY purchased a new stake in shares of Line Corp during the third quarter worth approximately $1,258,000. Finally, First American Bank purchased a new stake in shares of Line Corp during the third quarter worth approximately $291,000.

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