Jacobs Levy Equity Management Inc. Buys New Shares in Lineage, Inc. (NASDAQ:LINE)

Jacobs Levy Equity Management Inc. bought a new stake in Lineage, Inc. (NASDAQ:LINE) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 93,926 shares of the company’s stock, valued at approximately $5,501,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its holdings in Lineage by 1.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company’s stock valued at $595,000 after purchasing an additional 185 shares during the period. State of Alaska Department of Revenue lifted its position in Lineage by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company’s stock valued at $1,740,000 after buying an additional 291 shares in the last quarter. M&T Bank Corp lifted its position in Lineage by 9.7% during the fourth quarter. M&T Bank Corp now owns 4,987 shares of the company’s stock valued at $292,000 after buying an additional 439 shares in the last quarter. GAMMA Investing LLC lifted its position in Lineage by 7,466.7% during the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 448 shares in the last quarter. Finally, EPIQ Capital Group LLC lifted its position in Lineage by 10.9% during the fourth quarter. EPIQ Capital Group LLC now owns 5,100 shares of the company’s stock valued at $301,000 after buying an additional 500 shares in the last quarter.

Lineage Stock Performance

Shares of LINE opened at $45.86 on Thursday. The firm has a 50-day moving average price of $54.17 and a 200 day moving average price of $58.70. The firm has a market capitalization of $10.48 billion and a PE ratio of -14.24. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Lineage, Inc. has a 52-week low of $42.05 and a 52-week high of $89.85.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.34 billion. Lineage’s revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

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

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the business’s stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the acquisition, the chairman now owns 24,317 shares of the company’s stock, valued at $1,471,178.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sudarsan V. Thattai acquired 4,420 shares of Lineage stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $45.23 per share, with a total value of $199,916.60. Following the completion of the purchase, the insider now directly owns 4,420 shares of the company’s stock, valued at approximately $199,916.60. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In 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 insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup assumed 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. Bank of America cut shares of Lineage from a “buy” rating to a “neutral” rating and set a $49.00 price target on the stock. in a research report on Tuesday, May 6th. Scotiabank reaffirmed a “sector perform” rating and set a $56.00 price target (down from $74.00) on shares of Lineage in a research report on Thursday, April 10th. Royal Bank of Canada reduced their target price on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Lineage from $74.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $70.05.

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.