Janney Montgomery Scott LLC Purchases New Stake in Lineage, Inc. (NASDAQ:LINE)

Janney Montgomery Scott LLC purchased a new stake in Lineage, Inc. (NASDAQ:LINE) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,969 shares of the company’s stock, valued at approximately $781,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Seven Grand Managers LLC acquired a new position in Lineage during the third quarter worth about $24,298,000. Sequoia Financial Advisors LLC acquired a new position in Lineage during the third quarter worth about $23,893,000. Renaissance Capital LLC acquired a new position in Lineage during the third quarter worth about $5,209,000. Nisa Investment Advisors LLC acquired a new position in Lineage during the third quarter worth about $4,871,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Lineage during the third quarter worth about $3,582,000.

Lineage Stock Up 0.6 %

Shares of Lineage stock opened at $63.53 on Monday. Lineage, Inc. has a 1 year low of $62.65 and a 1 year high of $89.85. The company’s fifty day simple moving average is $75.90. 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 (NASDAQ:LINE) last announced its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share (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 for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the business earned $0.75 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, equities research analysts expect that Lineage, Inc. will post 3 EPS for the current year.

Lineage Dividend Announcement

The company also recently declared 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

LINE has been the subject of several research analyst reports. The Goldman Sachs Group lowered their target price on Lineage from $104.00 to $89.00 and set a “buy” rating for the company in a research note on Thursday. UBS Group initiated coverage on Lineage in a research note on Monday, August 19th. They set a “neutral” rating and a $88.00 target price for the company. Bank of America initiated coverage on Lineage in a research note on Monday, August 19th. They set a “buy” rating and a $100.00 target price for the company. Baird R W upgraded Lineage to a “strong-buy” rating in a report on Monday, August 19th. Finally, Morgan Stanley initiated coverage on Lineage in a report on Monday, August 19th. They set an “overweight” rating and a $100.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently 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.