Zacks Investment Research Upgrades Line Corp (LN) to “Hold”
Line Corp (NYSE:LN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
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. “
Several other equities analysts have also recently issued reports on the company. Macquarie cut Line Corp from an “outperform” rating to a “neutral” rating in a report on Thursday, October 27th. Jefferies Group cut Line Corp from a “buy” rating to a “hold” rating in a report on Thursday, October 27th. Deutsche Bank AG cut Line Corp from a “buy” rating to a “hold” rating in a report on Wednesday, October 26th. JPMorgan Chase & Co. assumed coverage on Line Corp in a report on Wednesday, August 24th. They set a “neutral” rating for the company. Finally, Morgan Stanley assumed coverage on Line Corp in a research report on Monday, August 8th. They set an “overweight” rating for the company. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold”.
Shares of Line Corp (NYSE:LN) opened at 38.61 on Thursday. The stock has a market capitalization of $8.39 billion and a PE ratio of 169.34. The firm has a 50-day moving average price of $44.22 and a 200 day moving average price of $42.88. Line Corp has a one year low of $36.01 and a one year high of $51.48.
Institutional investors have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management bought a new position in Line Corp during the third quarter valued at $101,000. First American Bank bought a new position in Line Corp during the third quarter valued at $291,000. FNY Managed Accounts LLC bought a new position in Line Corp during the third quarter valued at $339,000. Sei Investments Co. bought a new position in Line Corp during the third quarter valued at $346,000. Finally, SG Americas Securities LLC bought a new position in Line Corp during the third quarter valued at $544,000.
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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