Coronation Fund Managers Ltd. Sells 17,919 Shares of Line Corp (NYSE:LN)

Coronation Fund Managers Ltd. trimmed its holdings in shares of Line Corp (NYSE:LN) by 12.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 131,899 shares of the technology company’s stock after selling 17,919 shares during the period. Coronation Fund Managers Ltd. owned approximately 0.06% of Line worth $3,712,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the business. Matthews International Capital Management LLC boosted its holdings in shares of Line by 567.3% during the 1st quarter. Matthews International Capital Management LLC now owns 1,913,100 shares of the technology company’s stock worth $67,360,000 after buying an additional 1,626,400 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Line by 11.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 337,959 shares of the technology company’s stock worth $11,900,000 after buying an additional 33,700 shares in the last quarter. Henry James International Management Inc. boosted its holdings in shares of Line by 67.5% during the 1st quarter. Henry James International Management Inc. now owns 144,320 shares of the technology company’s stock worth $5,082,000 after buying an additional 58,149 shares in the last quarter. Eqis Capital Management Inc. boosted its holdings in shares of Line by 79.6% during the 1st quarter. Eqis Capital Management Inc. now owns 69,335 shares of the technology company’s stock worth $2,441,000 after buying an additional 30,724 shares in the last quarter. Finally, CSat Investment Advisory L.P. bought a new position in shares of Line during the 1st quarter worth approximately $1,801,000. Hedge funds and other institutional investors own 3.29% of the company’s stock.

Shares of NYSE:LN traded down $0.08 during trading on Monday, reaching $32.08. 1,179 shares of the stock were exchanged, compared to its average volume of 81,966. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.05 and a current ratio of 2.08. Line Corp has a 1-year low of $27.04 and a 1-year high of $45.92. The stock has a fifty day moving average price of $29.13. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of -200.56 and a beta of 1.18.

LN has been the topic of a number of research analyst reports. ValuEngine upgraded Line from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Zacks Investment Research cut Line from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Finally, Goldman Sachs Group upgraded Line from a “sell” rating to a “neutral” rating in a report on Monday, June 24th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Line presently has an average rating of “Hold” and an average price target of $3,500.00.

Line Profile

LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and life and financial services primarily in Japan, Taiwan, Thailand, and Indonesia. It operates through two segments, Core Business and Strategic Business. The company offers LINE, a cross-platform messenger application that enables 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.

Featured Story: Reverse Stock Split

Institutional Ownership by Quarter for Line (NYSE:LN)

Receive News & Ratings for Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Line and related companies with MarketBeat.com's FREE daily email newsletter.