Needham Investment Management LLC Makes New Investment in Lineage, Inc. (NASDAQ:LINE)

Needham Investment Management LLC acquired a new stake in Lineage, Inc. (NASDAQ:LINE) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,250 shares of the company’s stock, valued at approximately $490,000.

Several other large investors also recently modified their holdings of the company. US Bancorp DE acquired a new position in Lineage in the third quarter valued at $25,000. Larson Financial Group LLC bought a new position in shares of Lineage in the 3rd quarter worth about $34,000. Spirit of America Management Corp NY acquired a new position in shares of Lineage in the 3rd quarter valued at about $165,000. MetLife Investment Management LLC bought a new stake in shares of Lineage during the 3rd quarter valued at about $226,000. Finally, Amalgamated Bank acquired a new stake in Lineage during the third quarter worth approximately $255,000.

Lineage Stock Performance

Shares of NASDAQ:LINE opened at $62.57 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The company’s fifty day moving average is $71.91. Lineage, Inc. has a 1-year low of $62.43 and a 1-year high of $89.85.

Lineage (NASDAQ:LINE) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($3.22). The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. As a group, research analysts expect that Lineage, Inc. will post 3 earnings per share for the current fiscal year.

Lineage Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on LINE. Bank of America assumed coverage on Lineage in a research note on Monday, August 19th. They issued a “buy” rating and a $100.00 price target on the stock. Evercore ISI cut their target price on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Truist Financial began coverage on shares of Lineage in a report on Monday, August 19th. They issued a “buy” rating and a $94.00 price target for the company. KeyCorp initiated coverage on shares of Lineage in a report on Monday, August 19th. They set an “overweight” rating and a $92.00 price objective on the stock. Finally, Mizuho began coverage on Lineage in a research report on Monday, August 19th. They issued a “neutral” rating and a $86.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average 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.