Line (LN) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of Line (NYSE:LN) from a buy rating to a hold rating in a report released on Wednesday, January 3rd.
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. “
LN has been the subject of a number of other research reports. BNP Paribas cut Line from a hold rating to a reduce rating in a research report on Friday, October 27th. Deutsche Bank raised Line from a hold rating to a buy rating in a research note on Wednesday, October 25th. UBS Group raised Line from a sell rating to a neutral rating in a research note on Tuesday, October 31st. Finally, ValuEngine raised Line from a sell rating to a hold rating in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $47.00.
A number of hedge funds have recently bought and sold shares of the business. Eqis Capital Management Inc. increased its holdings in Line by 67.5% during the 4th quarter. Eqis Capital Management Inc. now owns 35,819 shares of the technology company’s stock worth $1,468,000 after purchasing an additional 14,435 shares during the last quarter. FNY Partners Fund LP purchased a new stake in Line during the 4th quarter worth approximately $553,000. Jane Street Group LLC bought a new stake in shares of Line in the 3rd quarter valued at approximately $828,000. Tremblant Capital Group increased its holdings in shares of Line by 18.7% in the 3rd quarter. Tremblant Capital Group now owns 2,594,156 shares of the technology company’s stock valued at $93,908,000 after acquiring an additional 409,057 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Line by 6.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 31,005 shares of the technology company’s stock valued at $1,122,000 after acquiring an additional 1,946 shares during the last quarter. Institutional investors own 3.59% of the company’s stock.
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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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