Zacks Investment Research cut shares of Line (NYSE:LN) from a hold rating to a sell rating in a research note released on Tuesday.
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 commented on LN. CLSA upgraded Line from a sell rating to an underperform rating in a report on Thursday, January 11th. Mizuho lowered Line from a neutral rating to an underperform rating in a report on Wednesday, January 31st. Four investment analysts have rated the stock with a sell rating, three have issued 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 stock opened at $39.75 on Tuesday. Line has a 12 month low of $32.69 and a 12 month high of $47.81.
A number of large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its position in Line by 47,356.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 62,642 shares of the technology company’s stock worth $2,567,000 after buying an additional 62,510 shares during the last quarter. Deutsche Bank AG increased its position in Line by 199.2% in the fourth quarter. Deutsche Bank AG now owns 40,688 shares of the technology company’s stock worth $1,667,000 after buying an additional 27,088 shares during the last quarter. Financial Gravity Companies Inc. purchased a new stake in Line in the fourth quarter worth $113,000. Liberty Mutual Group Asset Management Inc. purchased a new stake in Line in the fourth quarter worth $221,000. Finally, First Trust Advisors LP purchased a new stake in Line in the fourth quarter worth $257,000. 3.24% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: This piece was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of international trademark and copyright law. The correct version of this piece can be accessed at https://www.dispatchtribunal.com/2018/04/07/zacks-investment-research-lowers-line-ln-to-sell.html.
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, and voice and video calls, as well as serves as a smart portal to its other applications and services.
Get a free copy of the Zacks research report on Line (LN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Line and related companies with MarketBeat.com's FREE daily email newsletter.