Victory Capital Management Inc. Invests $176.79 Million in Lineage, Inc. (NASDAQ:LINE)

Victory Capital Management Inc. bought a new stake in Lineage, Inc. (NASDAQ:LINE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,255,555 shares of the company’s stock, valued at approximately $176,790,000. Victory Capital Management Inc. owned 0.99% of Lineage at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE purchased a new stake in Lineage during the 3rd quarter valued at about $25,000. Spirit of America Management Corp NY purchased a new stake in Lineage in the third quarter valued at approximately $165,000. Amalgamated Bank acquired a new position in Lineage in the 3rd quarter worth approximately $255,000. Villere ST Denis J & Co. LLC purchased a new position in Lineage during the 3rd quarter worth approximately $314,000. Finally, Perpetual Ltd acquired a new stake in Lineage during the 3rd quarter valued at approximately $324,000.

Wall Street Analysts Forecast Growth

LINE has been the topic of a number of research reports. Robert W. Baird cut their price objective on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Truist Financial began coverage on Lineage in a report on Monday, August 19th. They issued a “buy” rating and a $94.00 price objective for the company. Mizuho started coverage on Lineage in a report on Monday, August 19th. They set a “neutral” rating and a $86.00 target price on the stock. Bank of America began coverage on Lineage in a report on Monday, August 19th. They issued a “buy” rating and a $100.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $94.00 price objective on shares of Lineage in a research note on Tuesday, September 3rd. Five investment 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 a consensus target price of $92.50.

Lineage Stock Performance

LINE opened at $65.61 on Wednesday. Lineage, Inc. has a twelve month low of $65.60 and a twelve month high of $89.85. The stock’s 50-day moving average is $77.02. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage (NASDAQ:LINE) last announced its earnings results on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. Lineage’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 EPS. As a group, equities analysts forecast that Lineage, Inc. will post 3 EPS for the current fiscal 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.

Lineage 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.