Nicola Wealth Management LTD. Purchases New Stake in Lineage, Inc. (NASDAQ:LINE)

Nicola Wealth Management LTD. acquired a new stake in Lineage, Inc. (NASDAQ:LINE) during the third quarter, Holdings Channel.com reports. The fund acquired 8,400 shares of the company’s stock, valued at approximately $658,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. bought a new stake in shares of Lineage in the third quarter worth $176,790,000. Principal Financial Group Inc. bought a new position in shares of Lineage during the 3rd quarter worth approximately $173,115,000. Baillie Gifford & Co. acquired a new stake in Lineage in the third quarter worth $134,351,000. Seven Grand Managers LLC bought a new position in shares of Lineage during the 3rd quarter worth about $24,298,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Lineage during the 3rd quarter worth approximately $23,893,000.

Lineage Stock Performance

LINE traded down $0.65 during trading hours on Thursday, hitting $64.13. 183,238 shares of the stock were exchanged, compared to its average volume of 1,402,830. The stock has a 50-day simple moving average of $76.65. Lineage, Inc. has a 12 month low of $63.57 and a 12 month high of $89.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage (NASDAQ:LINE) last released 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). The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 EPS. Equities research analysts forecast that Lineage, Inc. will post 3 EPS for the current year.

Lineage Dividend Announcement

The firm also recently announced a — dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, September 30th were issued a dividend of $0.38 per share. The ex-dividend date was Monday, September 30th.

Wall Street Analysts Forecast Growth

LINE has been the topic of a number of analyst reports. Robert W. Baird cut their price objective 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. Piper Sandler initiated coverage on Lineage in a research report on Monday, August 19th. They set an “overweight” rating and a $102.00 price target on the stock. The Goldman Sachs Group cut their price objective on shares of Lineage from $104.00 to $89.00 and set a “buy” rating for the company in a research note on Thursday. JPMorgan Chase & Co. initiated coverage on Lineage in a research report on Monday, August 19th. They set an “overweight” rating and a $93.00 price target on the stock. Finally, Capital One Financial began coverage on Lineage in a research note on Monday, September 16th. They set an “overweight” rating and a $91.00 target price on the stock. Five equities research 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. According to MarketBeat, Lineage has an average rating of “Moderate Buy” and a consensus target price 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.