Today, Line Corp (LN) Upgrade to Hold by The Zacks Investment Research

Today, Line Corp (LN) Upgrade to Hold by The Zacks Investment Research

Zacks Investment Research upgraded shares of Line Corp (NYSE:LN) from a sell rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “LINE Corporation develops and operates the LINE application for smartphones. It offers messenger services which include free messages, voice calls and video calls. The company also provides communication and content sales and advertising services through LINE advertising, livedoor blog, and NAVER Matome Web portals. LINE Corporation is based in Tokyo, Japan. “

A number of other analysts have also commented on the company. Macquarie lowered Line Corp from an outperform rating to a neutral rating in a report on Thursday, October 27th. Jefferies Group lowered Line Corp from a buy rating to a hold rating in a report on Thursday, October 27th. Deutsche Bank AG lowered Line Corp from a buy rating to a hold rating in a report on Wednesday, October 26th. JPMorgan Chase & Co. initiated coverage on Line Corp in a report on Wednesday, August 24th. They issued a neutral rating for the company. Finally, Morgan Stanley initiated coverage on Line Corp in a report on Monday, August 8th. They issued an overweight rating for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Line Corp presently has a consensus rating of Hold.

Shares of Line Corp (NYSE:LN) opened at 38.44 on Wednesday. Line Corp has a 12-month low of $36.01 and a 12-month high of $51.48. The stock has a market cap of $8.35 billion and a PE ratio of 174.73. The firm has a 50 day moving average price of $41.44 and a 200 day moving average price of $42.45.

Several hedge funds have recently modified their holdings of the company. First American Bank purchased a new stake in shares of Line Corp during the third quarter valued at approximately $291,000. First New York Securities LLC NY purchased a new stake in shares of Line Corp during the third quarter valued at approximately $1,258,000. FNY Managed Accounts LLC bought a new stake in Line Corp during the third quarter valued at about $339,000. CIBC Asset Management Inc bought a new stake in Line Corp during the third quarter valued at about $4,200,000. Finally, Nationwide Fund Advisors bought a new stake in Line Corp during the third quarter valued at about $1,432,000.

Line Corp 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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