Verition Fund Management LLC Buys New Holdings in Lineage, Inc. (NASDAQ:LINE)

Verition Fund Management LLC purchased a new position in shares of Lineage, Inc. (NASDAQ:LINE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 288,825 shares of the company’s stock, valued at approximately $22,638,000.

Other institutional investors have also recently bought and sold shares of the company. US Bancorp DE acquired a new stake in shares of Lineage in the third quarter valued at approximately $25,000. Larson Financial Group LLC bought a new stake in Lineage in the 3rd quarter valued at $34,000. Spirit of America Management Corp NY acquired a new stake in Lineage during the 3rd quarter valued at $165,000. MetLife Investment Management LLC bought a new position in Lineage during the third quarter worth $226,000. Finally, Amalgamated Bank bought a new position in Lineage during the third quarter worth $255,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on LINE shares. Capital One Financial assumed coverage on shares of Lineage in a research note on Monday, September 16th. They set an “overweight” rating and a $91.00 target price for the company. Robert W. Baird cut their price objective on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. The Goldman Sachs Group decreased their target price on Lineage from $104.00 to $89.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Baird R W raised Lineage to a “strong-buy” rating in a report on Monday, August 19th. Finally, Scotiabank decreased their price objective on Lineage from $95.00 to $94.00 and set a “sector outperform” rating on the stock in a report on Monday, August 26th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Lineage presently has an average rating of “Moderate Buy” and an average price target of $90.75.

Lineage Trading Down 0.2 %

NASDAQ LINE opened at $64.46 on Friday. Lineage, Inc. has a 1 year low of $62.50 and a 1 year high of $89.85. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average price is $72.61.

Lineage (NASDAQ:LINE) last issued its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the business posted $0.75 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts anticipate that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Dividend Announcement

The firm also recently announced a — dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, September 30th were paid a dividend of $0.38 per share. The ex-dividend date was Monday, September 30th.

About Lineage

Lineage, Inc is the world’s largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world’s largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.