Line (NYSE:LN) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Line (NYSE:LN) from a hold rating to a sell rating in a report released on Thursday, 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 equities research analysts have also recently commented on the company. Jefferies Financial Group set a $3,500.00 price objective on Line and gave the company a buy rating in a research report on Tuesday, March 26th. Credit Suisse Group set a €22.00 ($25.58) target price on Infineon Technologies and gave the stock a buy rating in a research report on Thursday, March 14th. ValuEngine cut Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, Goldman Sachs Group cut 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 given a hold rating and five have assigned a buy rating to the stock. Line has a consensus rating of Hold and a consensus price target of $3,500.00.

Line stock opened at $28.26 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.36 and a current ratio of 2.40. Line has a one year low of $27.04 and a one year high of $46.48. The firm’s fifty day simple moving average is $28.71.

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

A number of large investors have recently made changes to their positions in LN. Matthews International Capital Management LLC boosted its position in Line by 567.3% in the first quarter. Matthews International Capital Management LLC now owns 1,913,100 shares of the technology company’s stock worth $67,360,000 after purchasing an additional 1,626,400 shares during the last quarter. Hillhouse Capital Advisors Ltd. purchased a new position in Line in the fourth quarter worth about $41,197,000. Coronation Fund Managers Ltd. purchased a new position in Line in the first quarter worth about $5,275,000. Henry James International Management Inc. raised its stake in shares of Line by 67.5% in the first quarter. Henry James International Management Inc. now owns 144,320 shares of the technology company’s stock worth $5,082,000 after buying an additional 58,149 shares during the period. Finally, CSat Investment Advisory L.P. bought a new position in shares of Line in the first quarter worth about $1,801,000. 3.32% of the stock is currently owned by institutional investors and hedge funds.

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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