Jacobs Levy Equity Management Inc. Takes Position in Lineage, Inc. (NASDAQ:LINE)

Jacobs Levy Equity Management Inc. bought a new stake in Lineage, Inc. (NASDAQ:LINE) during the fourth quarter, Holdings Channel reports. The institutional investor bought 93,926 shares of the company’s stock, valued at approximately $5,501,000.

Other large investors also recently made changes to their positions in the company. Renaissance Capital LLC increased its holdings in shares of Lineage by 25.6% in the 4th quarter. Renaissance Capital LLC now owns 83,446 shares of the company’s stock valued at $4,887,000 after purchasing an additional 16,990 shares during the period. Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of Lineage by 10.5% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 602,803 shares of the company’s stock valued at $35,306,000 after purchasing an additional 57,302 shares during the period. GAMMA Investing LLC increased its holdings in shares of 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 purchasing an additional 448 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Lineage by 130.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,070,915 shares of the company’s stock valued at $62,723,000 after purchasing an additional 605,670 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Lineage by 16.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 175,000 shares of the company’s stock valued at $10,250,000 after purchasing an additional 25,000 shares during the period.

Wall Street Analyst Weigh In

A number of research firms recently commented on LINE. Royal Bank of Canada dropped their price objective on Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Piper Sandler dropped their price objective on Lineage from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Barclays began coverage on Lineage in a report on Wednesday, April 9th. They issued an “overweight” rating and a $59.00 price objective on the stock. Bank of America downgraded Lineage from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a report on Tuesday, May 6th. Finally, Evercore ISI dropped their price objective on Lineage from $68.00 to $59.00 and set an “in-line” rating on the stock in a report on Thursday, May 1st. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.05.

Insider Activity

In other news, insider Sudarsan V. Thattai bought 4,420 shares of Lineage 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 transaction, the insider now directly owns 4,420 shares in the company, valued at $199,916.60. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of Lineage stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the transaction, the chairman now owns 24,317 shares of the company’s stock, valued at $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 51,186 shares of company stock valued at $2,666,159. 1.40% of the stock is owned by company insiders.

Lineage Stock Down 1.5%

LINE opened at $45.86 on Thursday. Lineage, Inc. has a 1-year low of $42.05 and a 1-year high of $89.85. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $10.48 billion and a price-to-earnings ratio of -14.24. The business has a 50 day moving average of $54.17 and a 200-day moving average of $58.70.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Lineage’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were given a $0.5275 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 4.60%. Lineage’s dividend payout ratio is -65.53%.

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.