Line Corp (LN) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Line Corp (NYSE:LN) from a sell rating to a hold rating in a research report report published on Friday 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. “

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley cut Line Corp from an overweight rating to an equal weight rating in a report on Wednesday, January 25th. Jefferies Group LLC reaffirmed a hold rating on shares of Line Corp in a report on Tuesday, November 29th. Six research analysts have rated the stock with a hold rating, The stock presently has an average rating of Hold.

Analyst Recommendations for Line Corp (NYSE:LN)

Shares of Line Corp (NYSE:LN) traded up 1.3824% during midday trading on Friday, hitting $37.3797. The company’s stock had a trading volume of 163,365 shares. Line Corp has a 12-month low of $30.90 and a 12-month high of $51.48. The firm has a 50-day moving average of $33.92 and a 200 day moving average of $38.17. The firm has a market cap of $8.14 billion and a price-to-earnings ratio of 119.8067.

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Large investors have recently bought and sold shares of the stock. Picton Mahoney Asset Management acquired a new stake in Line Corp during the third quarter valued at about $101,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Line Corp during the fourth quarter valued at about $204,000. FNY Partners Fund LP acquired a new stake in Line Corp during the fourth quarter valued at about $255,000. Pacad Investment Ltd. acquired a new stake in Line Corp during the fourth quarter valued at about $326,000. Finally, FNY Managed Accounts LLC acquired a new stake in Line Corp during the third quarter valued at about $339,000. 4.69% of the stock is owned by hedge funds and other institutional investors.

Line Corp 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.

5 Day Chart for NYSE:LN

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