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

Several other analysts have also issued reports on LN. JPMorgan Chase & Co. upgraded shares of Line from a “neutral” rating to an “overweight” rating in a report on Thursday, June 21st. CLSA upgraded shares of Line from an “underperform” rating to a “buy” rating in a report on Wednesday, June 27th. ValuEngine upgraded shares of Line from a “hold” rating to a “buy” rating in a report on Thursday, June 28th. Finally, UBS Group upgraded shares of Line from a “neutral” rating to a “buy” rating in a report on Wednesday, July 18th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $47.00.

NYSE LN opened at $43.19 on Wednesday. Line has a 52 week low of $34.61 and a 52 week high of $47.81. The firm has a market cap of $10.31 billion, a PE ratio of 143.97 and a beta of 1.43.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC increased its stake in Line by 484.3% during the second quarter. Jane Street Group LLC now owns 110,163 shares of the technology company’s stock worth $4,524,000 after purchasing an additional 91,309 shares during the period. Hillhouse Capital Management Ltd. increased its stake in Line by 14.5% during the second quarter. Hillhouse Capital Management Ltd. now owns 1,207,763 shares of the technology company’s stock worth $49,603,000 after purchasing an additional 152,900 shares during the period. OLD Mission Capital LLC increased its stake in Line by 150.6% during the second quarter. OLD Mission Capital LLC now owns 49,578 shares of the technology company’s stock worth $2,036,000 after purchasing an additional 29,792 shares during the period. Renaissance Technologies LLC increased its stake in Line by 12.9% during the second quarter. Renaissance Technologies LLC now owns 81,200 shares of the technology company’s stock worth $3,335,000 after purchasing an additional 9,300 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in Line by 32.9% during the second quarter. CIBC Private Wealth Group LLC now owns 85,486 shares of the technology company’s stock worth $3,511,000 after purchasing an additional 21,152 shares during the period. Hedge funds and other institutional investors own 3.07% 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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