Lineage, Inc. (NASDAQ:LINE) Chairman Acquires $491,938.57 in Stock

Lineage, Inc. (NASDAQ:LINE) Chairman Adam Matthew Schwartz Forste bought 10,949 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average price of $44.93 per share, for a total transaction of $491,938.57. Following the purchase, the chairman now owns 35,266 shares in the company, valued at $1,584,501.38. This represents a 45.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Adam Matthew Schwartz Forste also recently made the following trade(s):

• On Friday, February 28th, Adam Matthew Schwartz Forste purchased 24,317 shares of Lineage stock. The stock was acquired at an average price of $60.50 per share, with a total value of $1,471,178.50.

Lineage Stock Down 1.5%

Shares of NASDAQ LINE opened at $45.86 on Thursday. 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 12-month low of $42.05 and a 12-month high of $89.85. The firm’s 50-day moving average price is $54.17 and its 200-day moving average price is $58.70. The stock has a market capitalization of $10.48 billion and a price-to-earnings ratio of -14.24.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. The company had revenue of $1.29 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 was down 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were issued a dividend of $0.5275 per share. The ex-dividend date was Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 4.60%. Lineage’s payout ratio is presently -65.53%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LINE. Norges Bank purchased a new stake in shares of Lineage in the fourth quarter valued at $681,572,000. D1 Capital Partners L.P. grew its holdings in Lineage by 257.5% during the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company’s stock valued at $219,848,000 after purchasing an additional 2,703,598 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Lineage by 75.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company’s stock worth $255,903,000 after purchasing an additional 1,880,587 shares during the period. Janus Henderson Group PLC raised its position in Lineage by 92.1% in the 4th quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company’s stock worth $189,380,000 after purchasing an additional 1,550,478 shares during the period. Finally, Darlington Partners Capital Management LP bought a new stake in Lineage in the fourth quarter worth about $90,491,000.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Scotiabank reaffirmed a “sector perform” rating and issued a $56.00 price objective (down previously from $74.00) on shares of Lineage in a research note on Thursday, April 10th. Piper Sandler lowered their price target on Lineage from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Bank of America lowered shares of Lineage from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a report on Tuesday, May 6th. Barclays initiated coverage on shares of Lineage in a research report on Wednesday, April 9th. They set an “overweight” rating and a $59.00 price objective on the stock. Finally, Robert W. Baird dropped their target price on shares of Lineage from $70.00 to $64.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.05.

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.