Verition Fund Management LLC Acquires Shares of 288,825 Lineage, Inc. (NASDAQ:LINE)

Verition Fund Management LLC bought a new position in Lineage, Inc. (NASDAQ:LINE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 288,825 shares of the company’s stock, valued at approximately $22,638,000. Verition Fund Management LLC owned about 0.13% of Lineage at the end of the most recent quarter.

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

Lineage Stock Down 0.2 %

NASDAQ:LINE opened at $64.46 on Friday. 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, Inc. has a twelve month low of $62.50 and a twelve month high of $89.85. The business’s 50 day moving average price is $72.61.

Lineage (NASDAQ:LINE) last released 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 the consensus estimate of $1.34 billion. During the same period last year, the business posted $0.75 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, research analysts expect that Lineage, Inc. will post 3 EPS for the current year.

Lineage Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. KeyCorp initiated coverage on Lineage in a research report on Monday, August 19th. They issued an “overweight” rating and a $92.00 price target on the stock. Piper Sandler began coverage on Lineage in a research report on Monday, August 19th. They set an “overweight” rating and a $102.00 target price for the company. Scotiabank reduced their price objective on shares of Lineage from $95.00 to $94.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 26th. Mizuho began coverage on shares of Lineage in a research note on Monday, August 19th. They issued a “neutral” rating and a $86.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on shares of Lineage from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Lineage presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.75.

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.