Lineage, Inc. (NASDAQ:LINE) Shares Purchased by Renaissance Capital LLC

Renaissance Capital LLC lifted its stake in Lineage, Inc. (NASDAQ:LINE) by 25.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,446 shares of the company’s stock after acquiring an additional 16,990 shares during the period. Lineage accounts for approximately 3.2% of Renaissance Capital LLC’s holdings, making the stock its 14th biggest position. Renaissance Capital LLC’s holdings in Lineage were worth $4,887,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. US Bancorp DE bought a new stake in Lineage in the third quarter worth about $25,000. GAMMA Investing LLC grew its stake in shares of Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 448 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of Lineage in the 3rd quarter worth approximately $34,000. Spirit of America Management Corp NY acquired a new stake in Lineage during the third quarter valued at approximately $165,000. Finally, Stifel Financial Corp bought a new stake in Lineage during the third quarter worth approximately $211,000.

Lineage Stock Down 3.0 %

Shares of NASDAQ LINE opened at $58.18 on Tuesday. 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 firm has a fifty day moving average price of $59.77. Lineage, Inc. has a one year low of $52.75 and a one year high of $89.85.

Lineage (NASDAQ:LINE) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing the consensus estimate 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 quarter last year, the company posted $0.75 earnings per share. The company’s revenue was up .5% on a year-over-year basis. Equities research analysts expect that Lineage, Inc. will post 2.33 EPS for the current year.

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st were given a $0.5275 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.63%.

Analyst Ratings Changes

A number of brokerages have recently commented on LINE. Evercore ISI cut their price objective on Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada reduced their target price on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. The Goldman Sachs Group decreased their price target on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Scotiabank cut their price objective on Lineage from $76.00 to $73.00 and set a “sector outperform” rating on the stock in a report on Monday. Finally, Mizuho decreased their target price on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $84.88.

Lineage Company Profile

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.