Alpha Cubed Investments LLC Buys Shares of 6,600 Lineage, Inc. (NASDAQ:LINE)

Alpha Cubed Investments LLC purchased a new position in shares of Lineage, Inc. (NASDAQ:LINE) in the fourth quarter, HoldingsChannel reports. The fund purchased 6,600 shares of the company’s stock, valued at approximately $387,000.

Several other hedge funds also recently made changes to their positions in the business. Oak Thistle LLC bought a new stake in shares of Lineage in the fourth quarter worth $391,000. GAMMA Investing LLC increased its stake in Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 448 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in Lineage during the 3rd quarter worth about $12,542,000. Principal Financial Group Inc. bought a new stake in Lineage during the 3rd quarter worth about $173,115,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of Lineage during the 3rd quarter worth about $7,804,000.

Lineage Price Performance

Lineage stock opened at $60.11 on Wednesday. The firm has a 50-day moving average of $60.52. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. Lineage, Inc. has a twelve month low of $52.75 and a twelve month high of $89.85.

Lineage (NASDAQ:LINE) last announced its earnings results 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). The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. Lineage’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS. On average, analysts forecast that Lineage, Inc. will post 2.33 EPS for the current fiscal year.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st were given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Tuesday, December 31st.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. BNP Paribas initiated coverage on Lineage in a research report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 target price on the stock. Evercore ISI lowered their price target on Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Royal Bank of Canada cut their price objective on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Scotiabank decreased their target price on shares of Lineage from $94.00 to $76.00 and set a “sector outperform” rating for the company in a research note on Tuesday, December 10th. Finally, Mizuho dropped their price target on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lineage has an average rating of “Moderate Buy” and an average target price of $85.06.

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.