Lineage, Inc. (NASDAQ:LINE) Insider Acquires $199,916.60 in Stock

Lineage, Inc. (NASDAQ:LINE) insider Sudarsan V. Thattai bought 4,420 shares of Lineage stock in a transaction dated Monday, May 5th. The shares were bought at an average cost of $45.23 per share, for a total transaction of $199,916.60. Following the completion of the acquisition, the insider now owns 4,420 shares in the company, valued at $199,916.60. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lineage Price Performance

Shares of NASDAQ:LINE opened at $43.92 on Thursday. The company has a market cap of $10.02 billion and a PE ratio of -13.64. The company’s 50 day moving average is $55.65 and its 200 day moving average is $59.78. Lineage, Inc. has a twelve month low of $42.05 and a twelve month 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.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. The company’s revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts forecast that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend was Monday, March 31st. Lineage’s dividend payout ratio (DPR) is -65.53%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LINE. Galvin Gaustad & Stein LLC lifted its stake in Lineage by 20.9% in the first quarter. Galvin Gaustad & Stein LLC now owns 192,786 shares of the company’s stock valued at $11,303,000 after buying an additional 33,360 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Lineage by 69.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,602 shares of the company’s stock valued at $2,263,000 after acquiring an additional 15,800 shares in the last quarter. Machina Capital S.A.S. purchased a new stake in shares of Lineage during the first quarter valued at approximately $513,000. Oak Thistle LLC increased its holdings in Lineage by 201.6% in the first quarter. Oak Thistle LLC now owns 20,112 shares of the company’s stock valued at $1,179,000 after buying an additional 13,443 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Lineage in the first quarter worth $269,000.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LINE. Royal Bank of Canada reduced their target price on Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Bank of America lowered Lineage from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a report on Tuesday. Evercore ISI dropped their target price on shares of Lineage from $68.00 to $59.00 and set an “in-line” rating on the stock in a research report on Thursday, May 1st. Citigroup assumed coverage on Lineage in a research note on Friday, March 28th. They issued a “neutral” rating and a $64.00 price objective on the stock. Finally, Robert W. Baird dropped their price objective on Lineage from $70.00 to $64.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Lineage presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.79.

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.