Cinctive Capital Management LP Buys Shares of 41,006 Lineage, Inc. (NASDAQ:LINE)

Cinctive Capital Management LP purchased a new stake in shares of Lineage, Inc. (NASDAQ:LINE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 41,006 shares of the company’s stock, valued at approximately $2,402,000.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. acquired a new position in Lineage during the 3rd quarter valued at about $13,786,000. The Manufacturers Life Insurance Company acquired a new position in shares of Lineage during the third quarter worth approximately $2,612,000. Quantbot Technologies LP bought a new position in Lineage in the 3rd quarter worth approximately $323,000. BNP Paribas Financial Markets bought a new position in Lineage in the 3rd quarter worth approximately $2,993,000. Finally, MetLife Investment Management LLC acquired a new stake in Lineage in the 3rd quarter valued at approximately $226,000.

Insider Activity

In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the acquisition, the chairman now owns 24,317 shares of the company’s stock, valued at $1,471,178.50. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LINE shares. Piper Sandler decreased their price target on Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Robert W. Baird decreased their target price on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Citigroup initiated coverage on shares of Lineage in a research report on Friday, March 28th. They set a “neutral” rating and a $64.00 price target on the stock. JPMorgan Chase & Co. lowered shares of Lineage from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. Finally, Mizuho lowered their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.67.

Lineage Trading Up 2.8 %

Shares of LINE opened at $58.53 on Thursday. The business’s 50-day moving average price is $58.48 and its 200 day moving average price is $64.35. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. Lineage, Inc. has a 1-year low of $52.75 and a 1-year high of $89.85.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Monday, March 31st.

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.