Line (LN) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Line (NYSE:LN) from a buy rating to a hold rating in a report issued 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. “

Several other analysts also recently commented on LN. ValuEngine raised shares of Line from a sell rating to a hold rating in a research report on Tuesday, October 31st. UBS Group raised shares of Line from a sell rating to a neutral rating in a research report on Tuesday, October 31st. BNP Paribas downgraded shares of Line from a hold rating to a reduce rating in a research report on Friday, October 27th. Finally, Deutsche Bank raised shares of Line from a hold rating to a buy rating in a research report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Line currently has a consensus rating of Hold and a consensus target price of $47.00.

Shares of Line (NYSE:LN) opened at $42.95 on Wednesday. Line has a 52-week low of $30.90 and a 52-week high of $45.30.

Several hedge funds have recently made changes to their positions in LN. Advisor Group Inc. grew its position in shares of Line by 103.9% during the 2nd quarter. Advisor Group Inc. now owns 3,293 shares of the technology company’s stock worth $115,000 after buying an additional 1,678 shares during the period. Pacad Investment Ltd. acquired a new stake in shares of Line during the 2nd quarter worth approximately $160,000. JPMorgan Chase & Co. acquired a new stake in shares of Line during the 2nd quarter worth approximately $197,000. Nomura Holdings Inc. acquired a new stake in Line in the 2nd quarter valued at $241,000. Finally, OxFORD Asset Management LLP acquired a new stake in Line in the 2nd quarter valued at $584,000. 3.86% of the stock is owned by institutional investors.

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Line 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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