Line (LN) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Line (NYSE:LN) from a hold rating to a sell rating in a research note issued to investors on Friday morning, Zacks.com reports.

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 research firms have also weighed in on LN. Jefferies Financial Group lowered Line from a hold rating to an underperform rating in a report on Friday, January 18th. ValuEngine downgraded Line from a buy rating to a hold rating in a research note on Monday, February 4th. Goldman Sachs Group downgraded Line from a neutral rating to a sell rating in a research note on Friday, February 8th. Evercore ISI initiated coverage on Line in a research note on Monday, February 25th. They issued an outperform rating on the stock. Finally, Credit Suisse Group downgraded Line from a neutral rating to an underperform rating in a research note on Thursday, March 14th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $3,500.00.



LN stock opened at $33.99 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.60 and a current ratio of 2.64. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 113.30 and a beta of 1.35. Line has a 1-year low of $27.66 and a 1-year high of $46.48.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lenox Wealth Management Inc. raised its stake in shares of Line by 4.8% in the 4th quarter. Lenox Wealth Management Inc. now owns 18,493 shares of the technology company’s stock valued at $631,000 after purchasing an additional 846 shares during the period. OLD Mission Capital LLC acquired a new stake in shares of Line in the fourth quarter valued at about $613,000. Matthews International Capital Management LLC increased its position in shares of Line by 17.0% in the fourth quarter. Matthews International Capital Management LLC now owns 286,700 shares of the technology company’s stock valued at $9,779,000 after acquiring an additional 41,700 shares during the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of Line in the fourth quarter valued at about $173,000. Finally, Hillhouse Capital Advisors Ltd. acquired a new stake in shares of Line in the fourth quarter valued at about $41,197,000. 2.68% of the stock is currently owned by hedge funds and other institutional investors.

Line Company Profile

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.

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