Line Corp (NYSE:LN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “

Several other equities analysts have also issued reports on LN. Morgan Stanley assumed coverage on Line Corp in a report on Monday, August 8th. They set an “overweight” rating on the stock. Jefferies Group reiterated a “hold” rating on shares of Line Corp in a research note on Tuesday, August 23rd. JPMorgan Chase & Co. assumed coverage on shares of Line Corp in a research note on Wednesday, August 24th. They set a “neutral” rating for the company. Deutsche Bank AG downgraded shares of Line Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, October 26th. Finally, Macquarie downgraded shares of Line Corp from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold”.

Analyst Recommendations for Line Corp (NYSE:LN)

Shares of Line Corp (NYSE:LN) opened at 38.69 on Tuesday. The stock has a market capitalization of $8.40 billion and a price-to-earnings ratio of 175.86. Line Corp has a 1-year low of $36.01 and a 1-year high of $51.48. The firm’s 50-day moving average price is $41.20 and its 200 day moving average price is $42.41.

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Large investors have recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in shares of Line Corp during the third quarter valued at $101,000. First American Bank acquired a new stake in shares of Line Corp during the third quarter valued at $291,000. FNY Managed Accounts LLC acquired a new stake in shares of Line Corp during the third quarter valued at $339,000. Sei Investments Co. acquired a new stake in shares of Line Corp during the third quarter valued at $346,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Line Corp during the third quarter valued at $544,000.

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.

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