Goldman Sachs Group Lowers Line (LN) to Sell

Line (NYSE:LN) was downgraded by research analysts at Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research report issued on Friday, The Fly reports.

Several other analysts have also weighed in on LN. ValuEngine lowered shares of Line from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. TheStreet lowered shares of Line from a “c” rating to a “d+” rating in a research report on Wednesday, October 24th. Jefferies Financial Group upgraded shares of Line from an “underperform” rating to a “hold” rating in a research report on Tuesday, October 16th. Zacks Investment Research upgraded shares of Line from a “sell” rating to a “hold” rating in a research report on Tuesday, December 4th. Finally, Deutsche Bank lowered shares of Line from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold”.

NYSE LN opened at $36.54 on Friday. The company has a current ratio of 2.64, a quick ratio of 2.60 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 121.80 and a beta of 1.38. Line has a 52-week low of $27.66 and a 52-week high of $46.48.

A number of large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in shares of Line by 183.2% in the third quarter. PNC Financial Services Group Inc. now owns 3,268 shares of the technology company’s stock worth $137,000 after acquiring an additional 2,114 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Line in the third quarter worth about $167,000. Financial Gravity Companies Inc. bought a new position in shares of Line in the fourth quarter worth about $173,000. Greenleaf Trust bought a new position in shares of Line in the third quarter worth about $208,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Line by 212.2% in the third quarter. Tower Research Capital LLC TRC now owns 5,301 shares of the technology company’s stock worth $223,000 after acquiring an additional 3,603 shares during the last quarter. Hedge funds and other institutional investors own 2.90% of the company’s stock.

About Line

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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