Zacks Investment Research upgraded shares of Line (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. “

LN has been the subject of several other reports. CLSA upgraded shares of Line from an underperform rating to a buy rating in a research report on Wednesday, June 27th. Macquarie upgraded shares of Line from a neutral rating to an outperform rating in a research report on Tuesday, April 24th. JPMorgan Chase & Co. upgraded shares of Line from a neutral rating to an overweight rating in a research report on Thursday, June 21st. Jefferies Financial Group lowered shares of Line from a hold rating to an underperform rating in a research report on Thursday, April 19th. Finally, ValuEngine upgraded shares of Line from a hold rating to a buy rating in a research report on Thursday, June 28th. Three analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Line has a consensus rating of Hold and an average target price of $47.00.

NYSE LN opened at $41.36 on Wednesday. Line has a 12-month low of $34.58 and a 12-month high of $47.81. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 137.87 and a beta of 1.41.

Institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in shares of Line during the first quarter worth about $300,000. Millennium Management LLC purchased a new stake in shares of Line during the first quarter worth about $438,000. Bank of Montreal Can boosted its holdings in shares of Line by 61.0% during the second quarter. Bank of Montreal Can now owns 14,345 shares of the technology company’s stock worth $589,000 after purchasing an additional 5,436 shares during the period. Lenox Wealth Management Inc. lifted its holdings in Line by 7.5% in the second quarter. Lenox Wealth Management Inc. now owns 17,143 shares of the technology company’s stock worth $704,000 after buying an additional 1,199 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Line in the first quarter worth about $735,000. Institutional investors own 2.56% 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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