Weiss Asset Management LP Takes $3.34 Million Position in Lineage, Inc. (NASDAQ:LINE)

Weiss Asset Management LP bought a new stake in shares of Lineage, Inc. (NASDAQ:LINE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 42,582 shares of the company’s stock, valued at approximately $3,338,000.

Several other large investors have also recently modified their holdings of the stock. US Bancorp DE bought a new position in Lineage in the 3rd quarter valued at $25,000. Larson Financial Group LLC bought a new position in Lineage in the 3rd quarter valued at $34,000. Spirit of America Management Corp NY bought a new position in Lineage in the 3rd quarter valued at $165,000. Stifel Financial Corp bought a new position in Lineage in the 3rd quarter valued at $211,000. Finally, MetLife Investment Management LLC bought a new position in Lineage in the 3rd quarter valued at $226,000.

Analysts Set New Price Targets

LINE has been the topic of several research analyst reports. Scotiabank cut their price objective on Lineage from $95.00 to $94.00 and set a “sector outperform” rating on the stock in a research report on Monday, August 26th. Evercore ISI lowered their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Robert W. Baird lowered their target price on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Mizuho initiated coverage on Lineage in a report on Monday, August 19th. They issued a “neutral” rating and a $86.00 target price for the company. Finally, Bank of America initiated coverage on Lineage in a report on Monday, August 19th. They issued a “buy” rating and a $100.00 target price for the company. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $90.75.

Lineage Trading Down 1.2 %

Lineage stock opened at $62.12 on Friday. The company has a 50-day simple moving average of $70.61. 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 one year low of $61.00 and a one year high of $89.85.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data 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). The firm had revenue of $1.34 billion during 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%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. As a group, sell-side analysts forecast that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Announces Dividend

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

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.