Line Corp (LN) Cut to “Neutral” at Goldman Sachs Group Inc
Line Corp (NYSE:LN) was downgraded by Goldman Sachs Group Inc from a “buy” rating to a “neutral” rating in a research report issued on Thursday, The Fly reports.
A number of other research analysts have also commented on the company. Zacks Investment Research raised Line Corp from a “sell” rating to a “hold” rating in a report on Friday, March 24th. Morgan Stanley lowered Line Corp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 25th. Seven equities research analysts have rated the stock with a hold rating, Line Corp currently has a consensus rating of “Hold”.
Shares of Line Corp (NYSE:LN) opened at 36.84 on Thursday. The stock has a market cap of $8.02 billion and a PE ratio of 129.72. The stock’s 50 day moving average price is $36.54 and its 200-day moving average price is $37.12. Line Corp has a one year low of $30.90 and a one year high of $51.48.
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Hedge funds have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management acquired a new stake in Line Corp during the third quarter worth about $101,000. Bank of Montreal Can acquired a new stake in Line Corp during the first quarter worth about $119,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Line Corp during the fourth quarter worth about $204,000. First American Bank acquired a new stake in Line Corp during the third quarter worth about $291,000. Finally, FNY Managed Accounts LLC acquired a new stake in Line Corp during the third quarter worth about $339,000. 4.69% of the stock is currently owned by hedge funds and other institutional investors.
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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