Short Interest in Lineage, Inc. (NASDAQ:LINE) Grows By 55.5%

Lineage, Inc. (NASDAQ:LINE) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 8,888,170 shares, an increase of 55.5% from the November 30th total of 5,716,855 shares. Approximately 13.9% of the company’s shares are short sold. Based on an average trading volume of 1,448,456 shares, the short-interest ratio is currently 6.1 days. Based on an average trading volume of 1,448,456 shares, the short-interest ratio is currently 6.1 days. Approximately 13.9% of the company’s shares are short sold.

Insider Activity

In other news, CFO Robb A. Lemasters acquired 30,000 shares of the stock in a transaction dated Thursday, November 13th. The stock was purchased at an average cost of $33.74 per share, with a total value of $1,012,200.00. Following the completion of the purchase, the chief financial officer owned 60,000 shares in the company, valued at approximately $2,024,400. The trade was a 100.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Kevin Patrick Marchetti bought 14,500 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average price of $33.72 per share, with a total value of $488,940.00. Following the completion of the acquisition, the chairman owned 89,168 shares of the company’s stock, valued at $3,006,744.96. This trade represents a 19.42% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 129,000 shares of company stock worth $4,366,940 in the last quarter. Insiders own 71.90% of the company’s stock.

Institutional Investors Weigh In On Lineage

Several large investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. boosted its holdings in Lineage by 110.2% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 22,927 shares of the company’s stock valued at $998,000 after purchasing an additional 12,021 shares in the last quarter. Strs Ohio acquired a new stake in shares of Lineage in the 1st quarter valued at approximately $5,722,000. Raymond James Financial Inc. purchased a new stake in shares of Lineage in the first quarter valued at approximately $3,385,000. Corient Private Wealth LLC boosted its stake in shares of Lineage by 590.5% in the second quarter. Corient Private Wealth LLC now owns 88,680 shares of the company’s stock valued at $3,859,000 after buying an additional 75,838 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in Lineage during the first quarter worth $6,567,000.

Lineage Trading Down 1.2%

NASDAQ:LINE opened at $34.67 on Monday. Lineage has a 1 year low of $32.46 and a 1 year high of $62.30. The stock has a market cap of $7.91 billion, a P/E ratio of -43.89 and a beta of -0.16. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 0.99. The stock has a 50-day simple moving average of $36.14 and a 200-day simple moving average of $39.83.

Lineage (NASDAQ:LINE) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.30%.The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the company posted $0.90 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, analysts anticipate that Lineage will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Wednesday, December 31st will be paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 6.1%. The ex-dividend date is Wednesday, December 31st. Lineage’s dividend payout ratio (DPR) is currently -267.09%.

Wall Street Analyst Weigh In

LINE has been the subject of a number of research analyst reports. Scotiabank dropped their price target on Lineage from $42.00 to $37.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 12th. The Goldman Sachs Group cut their target price on shares of Lineage from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Zacks Research raised shares of Lineage from a “strong sell” rating to a “hold” rating in a research note on Monday, December 1st. Robert W. Baird reaffirmed a “neutral” rating and set a $39.00 price objective (down from $45.00) on shares of Lineage in a research report on Thursday, December 18th. Finally, Wells Fargo & Company decreased their target price on Lineage from $43.00 to $32.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 25th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $42.78.

Lineage Company Profile

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.