Maverick Capital Ltd. Takes Position in Lineage, Inc. (NASDAQ:LINE)

Maverick Capital Ltd. bought a new stake in Lineage, Inc. (NASDAQ:LINE) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 350,000 shares of the company’s stock, valued at approximately $27,433,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. purchased a new position in shares of Lineage in the third quarter valued at approximately $176,790,000. Principal Financial Group Inc. purchased a new position in shares of Lineage in the third quarter valued at approximately $173,115,000. Baillie Gifford & Co. purchased a new position in shares of Lineage in the third quarter valued at approximately $134,351,000. D1 Capital Partners L.P. purchased a new position in shares of Lineage in the third quarter valued at approximately $82,299,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Lineage in the third quarter valued at approximately $47,028,000.

Lineage Stock Down 1.6 %

Shares of NASDAQ LINE opened at $63.42 on Friday. Lineage, Inc. has a twelve month low of $62.50 and a twelve month high of $89.85. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average price of $72.26.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share 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 firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. As a group, analysts anticipate that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, September 30th were paid a $0.38 dividend. The ex-dividend date was Monday, September 30th.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group decreased their target price on Lineage from $104.00 to $89.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. KeyCorp started coverage on Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $92.00 price target for the company. Robert W. Baird cut their price target on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Baird R W raised Lineage to a “strong-buy” rating in a report on Monday, August 19th. Finally, Bank of America started coverage on Lineage in a report on Monday, August 19th. They issued a “buy” rating and a $100.00 price target for the company. Five 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.75.

Lineage 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.