OVERSEA CHINESE BANKING Corp Ltd Invests $2.15 Million in Lineage, Inc. (NASDAQ:LINE)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 27,373 shares of the company's stock, valued at approximately $2,145,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Principal Financial Group Inc. bought a new stake in Lineage during the third quarter worth $173,115,000. Seven Grand Managers LLC bought a new stake in shares of Lineage during the third quarter worth $24,298,000. Sequoia Financial Advisors LLC acquired a new position in shares of Lineage during the third quarter worth $23,893,000. Asset Management One Co. Ltd. acquired a new stake in shares of Lineage during the 3rd quarter valued at $6,595,000. Finally, Easterly Investment Partners LLC bought a new stake in Lineage during the 3rd quarter worth $6,100,000.

Lineage Trading Down 1.3 %

LINE stock traded down $0.83 during mid-day trading on Wednesday, reaching $64.78. The company's stock had a trading volume of 955,941 shares, compared to its average volume of 1,418,466. Lineage, Inc. has a 12 month low of $64.48 and a 12 month high of $89.85. The business's 50 day moving average price is $77.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage (NASDAQ:LINE - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. The company's revenue for the quarter was up .5% compared to the same quarter last year. Research analysts forecast that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank of Canada cut their price target on Lineage from $94.00 to $81.00 and set an "outperform" rating on the stock in a research note on Wednesday. Bank of America started coverage on shares of Lineage in a research report on Monday, August 19th. They set a "buy" rating and a $100.00 target price on the stock. UBS Group started coverage on shares of Lineage in a research report on Monday, August 19th. They issued a "neutral" rating and a $88.00 price target for the company. Robert W. Baird cut their price target on shares of Lineage from $91.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Lineage in a report on Monday, August 19th. They issued a "hold" rating and a $90.00 price objective for the company. 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $91.69.

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.