Line (NYSE:LN) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Line (NYSE:LN) from a hold rating to a sell rating in a research note published on Wednesday, 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. “

LN has been the topic of several other reports. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Jefferies Financial Group set a $3,500.00 price target on shares of Line and gave the stock a buy rating in a research report on Tuesday, March 26th. Finally, Goldman Sachs Group cut shares of Metcash from a conviction-buy rating to a neutral rating in a research report on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Line has an average rating of Hold and a consensus target price of $3,500.00.

LN opened at $28.38 on Wednesday. Line has a 12 month low of $27.04 and a 12 month high of $46.48. The company has a fifty day moving average of $28.45. The company has a current ratio of 2.40, a quick ratio of 2.36 and a debt-to-equity ratio of 0.88.

Line (NYSE:LN) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported ($0.05) EPS for the quarter. Line had a negative return on equity of 2.52% and a negative net margin of 1.58%. The business had revenue of $455.95 million for the quarter. As a group, equities analysts forecast that Line will post -2.01 EPS for the current year.

Large investors have recently modified their holdings of the business. Henry James International Management Inc. raised its holdings in shares of Line by 67.5% in the 1st quarter. Henry James International Management Inc. now owns 144,320 shares of the technology company’s stock valued at $5,082,000 after purchasing an additional 58,149 shares during the period. Lenox Wealth Management Inc. raised its holdings in shares of Line by 2.1% in the 1st quarter. Lenox Wealth Management Inc. now owns 18,881 shares of the technology company’s stock valued at $665,000 after purchasing an additional 388 shares during the period. OLD Mission Capital LLC bought a new stake in shares of Line in the 4th quarter valued at about $613,000. Coronation Fund Managers Ltd. bought a new stake in shares of Line in the 1st quarter valued at about $5,275,000. Finally, Jane Street Group LLC raised its holdings in shares of Line by 69.4% in the 4th quarter. Jane Street Group LLC now owns 74,528 shares of the technology company’s stock valued at $2,542,000 after purchasing an additional 30,541 shares during the period. 3.32% of the stock is currently owned by hedge funds and other institutional investors.

About Line

LINE Corporation provides a platform for mobile messaging and communication services, content distribution, and life and financial services primarily in Japan, Taiwan, Thailand, and Indonesia. It operates through two segments, Core Business and Strategic Business. The company offers LINE, a cross-platform messenger application that enables 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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