Renaissance Capital LLC Buys 16,990 Shares of Lineage, Inc. (NASDAQ:LINE)

Renaissance Capital LLC raised its stake in Lineage, Inc. (NASDAQ:LINE) by 25.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 83,446 shares of the company’s stock after acquiring an additional 16,990 shares during the period. Lineage comprises about 3.2% of Renaissance Capital LLC’s investment portfolio, making the stock its 14th largest position. Renaissance Capital LLC’s holdings in Lineage were worth $4,887,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP bought a new stake in Lineage in the third quarter valued at approximately $265,895,000. Victory Capital Management Inc. acquired a new position in shares of Lineage in the 3rd quarter worth approximately $176,790,000. Principal Financial Group Inc. bought a new stake in shares of Lineage in the 3rd quarter valued at $173,115,000. Baillie Gifford & Co. acquired a new stake in shares of Lineage during the third quarter worth $134,351,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Lineage during the third quarter worth $131,875,000.

Lineage Trading Down 3.0 %

Shares of NASDAQ LINE opened at $58.18 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Lineage, Inc. has a 1 year low of $52.75 and a 1 year high of $89.85. The firm’s 50-day simple moving average is $59.77.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the firm posted $0.75 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. On average, research analysts anticipate that Lineage, Inc. will post 2.33 EPS for the current fiscal year.

Lineage Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have commented on the stock. Scotiabank cut their price target on shares of Lineage from $76.00 to $73.00 and set a “sector outperform” rating on the stock in a research report on Monday. Royal Bank of Canada cut their target price on Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. BNP Paribas initiated coverage on Lineage in a report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 target price for the company. Mizuho cut their price target on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Evercore ISI lowered their price objective on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Seven investment 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 company. According to data from MarketBeat, the stock has a consensus 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.