Line (LN) Upgraded to Hold by Zacks Investment Research

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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 released on Tuesday, September 18th.

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 equities research analysts have also recently weighed in on the stock. UBS Group upgraded shares of Line from a neutral rating to a buy rating in a research report on Wednesday, July 18th. ValuEngine upgraded shares of Line from a hold rating to a buy rating in a research report on Thursday, June 28th. CLSA upgraded shares of Line from an underperform rating to a buy rating in a research report on Wednesday, June 27th. Finally, JPMorgan Chase & Co. upgraded shares of Line from a neutral rating to an overweight rating in a research report on Thursday, June 21st. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Line currently has an average rating of Hold and a consensus target price of $47.00.

Line stock traded up $1.10 during midday trading on Tuesday, hitting $35.94. 81,633 shares of the stock were exchanged, compared to its average volume of 127,342. Line has a fifty-two week low of $34.56 and a fifty-two week high of $47.81. The stock has a market cap of $10.05 billion, a P/E ratio of 119.80 and a beta of 1.49.

A number of institutional investors have recently modified their holdings of the stock. Hillhouse Capital Management Ltd. lifted its stake in Line by 14.5% in the second quarter. Hillhouse Capital Management Ltd. now owns 1,207,763 shares of the technology company’s stock worth $49,603,000 after acquiring an additional 152,900 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its stake in Line by 3.6% in the second quarter. ANTIPODES PARTNERS Ltd now owns 367,390 shares of the technology company’s stock worth $15,088,000 after acquiring an additional 12,823 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Line by 2.7% in the first quarter. PNC Financial Services Group Inc. now owns 230,418 shares of the technology company’s stock worth $8,990,000 after acquiring an additional 5,997 shares during the last quarter. Jane Street Group LLC lifted its stake in Line by 484.3% in the second quarter. Jane Street Group LLC now owns 110,163 shares of the technology company’s stock worth $4,524,000 after acquiring an additional 91,309 shares during the last quarter. Finally, Aperio Group LLC lifted its stake in Line by 34.9% in the second quarter. Aperio Group LLC now owns 89,424 shares of the technology company’s stock worth $3,673,000 after acquiring an additional 23,126 shares during the last quarter. 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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