Line (LN) Rating Increased to Hold at Zacks Investment Research

Line (NYSE:LN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “

A number of other research firms also recently issued reports on LN. Jefferies Financial Group downgraded shares of Line from a “hold” rating to an “underperform” rating in a research note on Friday, January 18th. ValuEngine downgraded shares of Line from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Goldman Sachs Group downgraded shares of Line from a “neutral” rating to a “sell” rating in a research note on Friday, February 8th. Evercore ISI started coverage on shares of Line in a research note on Monday, February 25th. They issued an “outperform” rating on the stock. Finally, Credit Suisse Group downgraded shares of Line from a “neutral” rating to an “underperform” rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold”.

Shares of LN stock opened at $33.94 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.64 and a quick ratio of 2.60. Line has a 12 month low of $27.66 and a 12 month high of $46.48.

Several hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC grew its holdings in shares of Line by 69.4% in the fourth quarter. Jane Street Group LLC now owns 74,528 shares of the technology company’s stock valued at $2,542,000 after purchasing an additional 30,541 shares in the last quarter. OLD Mission Capital LLC acquired a new position in shares of Line in the fourth quarter valued at approximately $613,000. Hillhouse Capital Advisors Ltd. acquired a new position in shares of Line in the fourth quarter valued at approximately $41,197,000. Citigroup Inc. grew its holdings in shares of Line by 222.4% in the fourth quarter. Citigroup Inc. now owns 1,983 shares of the technology company’s stock valued at $68,000 after purchasing an additional 1,368 shares in the last quarter. Finally, Advisor Group Inc. grew its holdings in shares of Line by 4.9% in the fourth quarter. Advisor Group Inc. now owns 7,979 shares of the technology company’s stock valued at $272,000 after purchasing an additional 376 shares in the last quarter. Hedge funds and other institutional investors own 2.68% of the company’s stock.

Line Company Profile

LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and related services primarily in Japan, Taiwan, Thailand, Indonesia, and Hong Kong. The company offers LINE, a cross-platform messenger application that enable 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.

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Analyst Recommendations for Line (NYSE:LN)

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