Line Corp (LN) Rating Lowered to Sell at Zacks Investment Research
Line Corp (NYSE:LN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
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 brokerages have also weighed in on LN. Jefferies Group restated a “hold” rating on shares of Line Corp in a research note on Tuesday, August 23rd. 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 for the company. Macquarie lowered Line Corp from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 27th. Finally, Morgan Stanley began coverage on Line Corp in a research note on Monday, August 8th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold”.
Shares of Line Corp (NYSE:LN) opened at 38.69 on Tuesday. Line Corp has a 1-year low of $36.01 and a 1-year high of $51.48. The company has a market capitalization of $8.40 billion and a price-to-earnings ratio of 175.86. The stock has a 50 day moving average price of $41.20 and a 200 day moving average price of $42.41.
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A number of large investors have recently bought and sold shares of LN. First American Bank purchased a new stake in Line Corp during the third quarter valued at approximately $291,000. First New York Securities LLC NY purchased a new stake in Line Corp during the third quarter valued at approximately $1,258,000. FNY Managed Accounts LLC purchased a new stake in Line Corp during the third quarter valued at approximately $339,000. CIBC Asset Management Inc purchased a new stake in Line Corp during the third quarter valued at approximately $4,200,000. Finally, Nationwide Fund Advisors purchased a new stake in Line Corp during the third quarter valued at approximately $1,432,000.
About Line Corp
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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