Renaissance Capital LLC Acquires New Holdings in Lineage, Inc. (NASDAQ:LINE)

Renaissance Capital LLC acquired a new stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 66,456 shares of the company's stock, valued at approximately $5,209,000. Lineage makes up about 3.4% of Renaissance Capital LLC's portfolio, making the stock its 12th biggest position.

Separately, Perpetual Ltd bought a new position in shares of Lineage during the third quarter valued at $324,000. Hedge funds and other institutional investors own 3.35% of the company's stock.

Lineage Trading Up 0.4 %

NASDAQ:LINE traded up $0.27 during midday trading on Wednesday, hitting $76.70. 620,814 shares of the company were exchanged, compared to its average volume of 1,613,032. The company has a quick ratio of 0.95, a current ratio of 1.10 and a debt-to-equity ratio of 1.93. Lineage, Inc. has a fifty-two week low of $73.16 and a fifty-two week high of $89.85. The firm has a market capitalization of $18.68 billion and a P/E ratio of -5.61. The stock has a fifty day moving average of $81.44.

Lineage Announces Dividend

The firm also recently announced a -- dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Monday, September 30th. Lineage's payout ratio is -11.12%.

Insider Activity at Lineage

In related news, CFO Robert Crisci purchased 10,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average price of $78.00 per share, with a total value of $780,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at $780,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Jeffrey Alvarez Rivera bought 600 shares of Lineage stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $78.00 per share, for a total transaction of $46,800.00. Following the purchase, the insider now owns 5,406 shares of the company's stock, valued at approximately $421,668. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Robert Crisci bought 10,000 shares of the stock in a transaction dated Friday, July 26th. The stock was purchased at an average cost of $78.00 per share, for a total transaction of $780,000.00. Following the acquisition, the chief financial officer now owns 10,000 shares of the company's stock, valued at approximately $780,000. The disclosure for this purchase can be found here. Insiders acquired a total of 12,150 shares of company stock worth $947,700 in the last 90 days. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

LINE has been the topic of a number of recent research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $94.00 target price on shares of Lineage in a report on Tuesday, September 3rd. Piper Sandler started coverage on shares of Lineage in a research report on Monday, August 19th. They issued an "overweight" rating and a $102.00 price target on the stock. Evercore ISI cut their price objective on shares of Lineage from $90.00 to $88.00 and set an "in-line" rating for the company in a research report on Monday, October 7th. The Goldman Sachs Group decreased their price objective on shares of Lineage from $105.00 to $104.00 and set a "buy" rating on the stock in a research report on Friday, September 13th. Finally, UBS Group started coverage on Lineage in a research note on Monday, August 19th. They issued a "neutral" rating and a $88.00 price target 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 stock. Based on data from MarketBeat, Lineage currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.50.

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.