Line (LN) Upgraded by Zacks Investment Research to Hold

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Zacks Investment Research upgraded shares of Line (NYSE:LN) from a sell rating to a hold rating in a research report report published 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 analysts have also weighed in on the stock. TheStreet lowered shares of Line from a c rating to a d+ rating in a research note on Wednesday, October 24th. ValuEngine lowered shares of Line from a buy rating to a hold rating in a research note on Wednesday, October 24th. Deutsche Bank lowered shares of Line from a buy rating to a hold rating in a research note on Wednesday, October 24th. Jefferies Financial Group raised shares of Line from an underperform rating to a hold rating in a research note on Tuesday, October 16th. Finally, CLSA reaffirmed a buy rating on shares of Line in a research note on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $47.00.

Line stock traded down $0.69 during midday trading on Thursday, reaching $29.41. 56,970 shares of the stock traded hands, compared to its average volume of 111,013. The company has a quick ratio of 2.86, a current ratio of 2.91 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 98.03 and a beta of 2.10. Line has a fifty-two week low of $28.97 and a fifty-two week high of $47.81.

Line (NYSE:LN) last posted its earnings results on Wednesday, August 8th. The technology company reported $0.16 earnings per share (EPS) for the quarter. The firm had revenue of $552.77 million during the quarter. Line had a net margin of 0.36% and a return on equity of 0.39%. Research analysts expect that Line will post 0.23 earnings per share for the current year.

Large investors have recently modified their holdings of the company. OLD Mission Capital LLC lifted its stake in shares of Line by 150.6% in the 2nd quarter. OLD Mission Capital LLC now owns 49,578 shares of the technology company’s stock worth $2,036,000 after acquiring an additional 29,792 shares during the period. Bank of Montreal Can raised its holdings in shares of Line by 61.0% in the 2nd 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 in the last quarter. Hillhouse Capital Management Ltd. raised its holdings in shares of Line by 14.5% in the 2nd 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 in the last quarter. Jane Street Group LLC raised its holdings in shares of Line by 484.3% in the 2nd 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 in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Line by 12.9% in the 2nd 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 in the last quarter. 3.07% of the stock is owned by institutional investors.

About Line

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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