Zacks Investment Research Lowers LINE Corporation (LN) to Sell
Zacks Investment Research downgraded shares of LINE Corporation (NYSE:LN) from a hold rating to a sell rating in a report published on Friday.
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 analysts have also issued reports on LN. UBS AG lowered shares of LINE Corporation from a neutral rating to an underweight rating in a research note on Friday, May 12th. ValuEngine lowered shares of LINE Corporation from a hold rating to a sell rating in a research note on Friday, July 14th. Goldman Sachs Group, Inc. (The) reiterated a neutral rating on shares of LINE Corporation in a research note on Saturday, April 29th. Nomura upgraded shares of LINE Corporation from a neutral rating to a buy rating in a research note on Wednesday, May 31st. Finally, Instinet upgraded shares of LINE Corporation from a neutral rating to a buy rating in a research note on Wednesday, May 31st. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. LINE Corporation has a consensus rating of Hold.
LINE Corporation (NYSE:LN) opened at 36.76 on Friday. LINE Corporation has a 12-month low of $30.90 and a 12-month high of $51.48. The firm has a market cap of $8.07 billion and a PE ratio of 66.96. The firm’s 50-day moving average is $35.25 and its 200 day moving average is $35.00.
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Several hedge funds have recently bought and sold shares of LN. Bank of Montreal Can purchased a new stake in LINE Corporation during the first quarter worth about $119,000. Eqis Capital Management Inc. purchased a new stake in LINE Corporation during the first quarter worth about $362,000. Comerica Bank purchased a new stake in LINE Corporation during the fourth quarter worth about $448,000. World Asset Management Inc raised its stake in LINE Corporation by 1.5% in the first quarter. World Asset Management Inc now owns 13,512 shares of the technology company’s stock worth $520,000 after buying an additional 198 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in LINE Corporation during the first quarter worth about $605,000. Institutional investors own 3.57% of the company’s stock.
LINE Corporation 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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