Lineage, Inc. (NASDAQ:LINE) Holdings Raised by Oak Thistle LLC

Oak Thistle LLC boosted its stake in Lineage, Inc. (NASDAQ:LINE) by 201.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,112 shares of the company’s stock after buying an additional 13,443 shares during the period. Oak Thistle LLC’s holdings in Lineage were worth $1,179,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. FIL Ltd bought a new stake in shares of Lineage in the 4th quarter worth approximately $29,000. Salomon & Ludwin LLC acquired a new position in shares of Lineage in the 1st quarter worth $34,000. Quarry LP acquired a new stake in shares of Lineage during the fourth quarter worth $50,000. Global X Japan Co. Ltd. purchased a new stake in shares of Lineage during the first quarter valued at $74,000. Finally, Parallel Advisors LLC acquired a new position in shares of Lineage in the 1st quarter valued at $151,000.

Wall Street Analysts Forecast Growth

LINE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered shares of Lineage from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $55.00 to $50.00 in a research report on Monday, June 23rd. KeyCorp reissued a “sector weight” rating and set a $84.00 price objective on shares of Lineage in a research report on Tuesday, July 1st. The Goldman Sachs Group dropped their target price on Lineage from $74.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Barclays reduced their price target on Lineage from $59.00 to $52.00 and set an “overweight” rating for the company in a report on Monday. Finally, Robert W. Baird reduced their target price on shares of Lineage from $70.00 to $64.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.15.

Lineage Stock Up 1.9%

LINE opened at $44.50 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. Lineage, Inc. has a twelve month low of $40.49 and a twelve month high of $89.85. The stock has a market capitalization of $10.17 billion and a price-to-earnings ratio of -13.82. The firm has a 50 day moving average price of $44.16 and a 200-day moving average price of $51.87.

Lineage (NASDAQ:LINE) last announced its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 11.88% and a negative return on equity of 7.24%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities research analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, June 30th were given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 4.74%. The ex-dividend date was Monday, June 30th. Lineage’s payout ratio is currently -65.53%.

Insider Transactions at Lineage

In other Lineage news, insider Sudarsan V. Thattai bought 4,420 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average cost of $45.23 per share, with a total value of $199,916.60. Following the completion of the acquisition, the insider owned 4,420 shares in the company, valued at $199,916.60. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Kevin Patrick Marchetti acquired 11,500 shares of the stock in a transaction on Tuesday, May 6th. The shares were acquired at an average price of $43.75 per share, with a total value of $503,125.00. Following the transaction, the chairman directly owned 27,733 shares of the company’s stock, valued at $1,213,318.75. The trade was a 70.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 26,869 shares of company stock valued at $1,194,980. 71.90% of the stock is currently owned by corporate insiders.

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.