Zacks Investment Research Downgrades Line (LN) to Hold

Line (NYSE:LN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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. “

LN has been the subject of several other reports. BNP Paribas downgraded Line from a “hold” rating to a “reduce” rating in a report on Friday, October 27th. Deutsche Bank upgraded Line from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. UBS Group upgraded Line from a “sell” rating to a “neutral” rating in a report on Tuesday, October 31st. Finally, ValuEngine upgraded Line from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $47.00.

Shares of Line (NYSE:LN) opened at $41.32 on Wednesday. Line has a fifty-two week low of $30.90 and a fifty-two week high of $45.30.

Several hedge funds have recently bought and sold shares of the company. Tremblant Capital Group boosted its position in shares of Line by 18.7% during the third quarter. Tremblant Capital Group now owns 2,594,156 shares of the technology company’s stock worth $93,908,000 after buying an additional 409,057 shares during the period. Carmignac Gestion boosted its position in shares of Line by 42.2% during the second quarter. Carmignac Gestion now owns 1,376,724 shares of the technology company’s stock worth $47,882,000 after buying an additional 408,617 shares during the period. Macquarie Group Ltd. boosted its position in shares of Line by 1.5% during the third quarter. Macquarie Group Ltd. now owns 797,176 shares of the technology company’s stock worth $28,858,000 after buying an additional 11,634 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Line by 8.6% during the second quarter. Goldman Sachs Group Inc. now owns 327,004 shares of the technology company’s stock worth $11,373,000 after buying an additional 25,830 shares during the period. Finally, Citigroup Inc. boosted its position in shares of Line by 0.9% during the second quarter. Citigroup Inc. now owns 304,708 shares of the technology company’s stock worth $10,598,000 after buying an additional 2,692 shares during the period. 3.82% of the stock is owned by institutional investors.

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About Line

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.

Analyst Recommendations for Line (NYSE:LN)

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