Victory Capital Management Inc. Purchases New Position in Lineage, Inc. (NASDAQ:LINE)

Victory Capital Management Inc. bought a new position in Lineage, Inc. (NASDAQ:LINE - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,255,555 shares of the company's stock, valued at approximately $176,790,000. Victory Capital Management Inc. owned 0.99% of Lineage at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC bought a new position in shares of Lineage during the 3rd quarter worth approximately $23,893,000. abrdn plc acquired a new stake in shares of Lineage during the third quarter valued at about $1,000,000. Van ECK Associates Corp purchased a new position in shares of Lineage in the 3rd quarter valued at about $833,000. Seven Grand Managers LLC acquired a new stake in shares of Lineage in the 3rd quarter valued at about $24,298,000. Finally, SG Americas Securities LLC purchased a new stake in Lineage in the 3rd quarter valued at $658,000.

Lineage Stock Performance

NASDAQ:LINE traded up $0.02 during trading hours on Wednesday, reaching $65.63. 514,689 shares of the company were exchanged, compared to its average volume of 1,412,809. Lineage, Inc. has a 52-week low of $65.15 and a 52-week high of $89.85. The company's 50 day moving average is $77.02. 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 - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the business posted $0.75 EPS. Lineage's quarterly revenue was up .5% compared to the same quarter last year. Analysts expect that Lineage, Inc. will post 3 EPS for the current year.

Lineage Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently weighed in on LINE. Deutsche Bank Aktiengesellschaft began coverage on shares of Lineage in a report on Monday, August 19th. They issued a "hold" rating and a $90.00 price objective on the stock. Evercore ISI dropped their target price 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. UBS Group assumed coverage on shares of Lineage in a research report on Monday, August 19th. They issued a "neutral" rating and a $88.00 price objective for the company. JPMorgan Chase & Co. began coverage on Lineage in a research note on Monday, August 19th. They issued an "overweight" rating and a $93.00 target price on the stock. Finally, Robert W. Baird reduced their target price on shares of Lineage from $91.00 to $85.00 and set an "outperform" rating for the company in a report on Thursday, November 7th. Five 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $91.69.

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.