Zacks Investment Research Upgrades Line (LN) to “Hold”
Line (NYSE:LN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and 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 commented 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 research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $47.00.
Hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new stake in Line in the first quarter worth about $300,000. Millennium Management LLC acquired a new stake in Line in the first quarter worth about $438,000. Bank of Montreal Can lifted its holdings in Line by 61.0% in the second quarter. Bank of Montreal Can now owns 14,345 shares of the technology company’s stock worth $589,000 after purchasing an additional 5,436 shares during the period. Lenox Wealth Management Inc. lifted its holdings in Line by 7.5% in the second quarter. Lenox Wealth Management Inc. now owns 17,143 shares of the technology company’s stock worth $704,000 after purchasing an additional 1,199 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Line in the first quarter worth about $735,000. 3.07% of the stock is owned by institutional investors and hedge funds.
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.
Recommended Story: Asset Allocation
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.