Insider Buying: Lineage, Inc. (NASDAQ:LINE) Insider Purchases 3,563 Shares of Stock

Lineage, Inc. (NASDAQ:LINE) insider Sudarsan V. Thattai bought 3,563 shares of the business’s stock in a transaction on Friday, August 8th. The shares were bought at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the acquisition, the insider owned 7,983 shares of the company’s stock, valued at approximately $338,878.35. This represents a 80.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Lineage Stock Performance

LINE opened at $41.30 on Thursday. The firm has a market capitalization of $9.44 billion and a P/E ratio of -14.80. The stock’s 50 day moving average price is $43.44 and its two-hundred day moving average price is $50.34. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72. Lineage, Inc. has a 12-month low of $40.00 and a 12-month high of $88.00.

Lineage (NASDAQ:LINE) last released its earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. Lineage’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were given a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a yield of 5.1%. Lineage’s dividend payout ratio (DPR) is -75.63%.

Analyst Ratings Changes

Several equities analysts have weighed in on LINE shares. BNP Paribas set a $42.00 target price on Lineage in a report on Thursday, June 12th. Evercore ISI cut their target price on Lineage from $59.00 to $45.00 and set an “in-line” rating on the stock in a report on Friday, August 8th. Morgan Stanley lowered Lineage from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $75.00 to $50.00 in a report on Monday, June 23rd. Citigroup cut their target price on Lineage from $64.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, June 12th. Finally, JPMorgan Chase & Co. lowered Lineage from a “neutral” rating to an “underweight” rating and cut their target price for the company from $55.00 to $50.00 in a report on Monday, June 23rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lineage presently has an average rating of “Hold” and a consensus target price of $58.55.

Institutional Investors Weigh In On Lineage

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Lineage during the second quarter valued at approximately $606,642,000. D1 Capital Partners L.P. boosted its holdings in Lineage by 257.5% during the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Lineage by 75.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company’s stock valued at $255,903,000 after purchasing an additional 1,880,587 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Lineage by 92.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company’s stock valued at $189,380,000 after purchasing an additional 1,550,478 shares in the last quarter. Finally, Darlington Partners Capital Management LP acquired a new stake in Lineage during the fourth quarter valued at approximately $90,491,000.

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.