IQ EQ FUND MANAGEMENT IRELAND Ltd Trims Stake in Lineage, Inc. (NASDAQ:LINE)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its holdings in Lineage, Inc. (NASDAQ:LINE) by 12.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,039 shares of the company’s stock after selling 5,663 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Lineage were worth $2,345,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LINE. Larson Financial Group LLC purchased a new stake in shares of Lineage in the 3rd quarter valued at about $34,000. GAMMA Investing LLC raised its holdings in shares of Lineage by 7,466.7% during the 4th 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. Stifel Financial Corp bought a new stake in Lineage in the 3rd quarter worth approximately $211,000. MetLife Investment Management LLC purchased a new stake in Lineage in the third quarter worth approximately $226,000. Finally, Quantbot Technologies LP bought a new position in Lineage during the third quarter valued at approximately $323,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. BNP Paribas began coverage on shares of Lineage in a research report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 price target for the company. Piper Sandler cut their price objective on Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. lowered shares of Lineage from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $78.00 to $75.00 in a report on Friday, December 20th. Mizuho decreased their target price on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group reduced their price target on Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.06.

Lineage Price Performance

LINE stock opened at $59.67 on Thursday. The stock’s 50 day simple moving average is $58.50 and its 200 day simple moving average is $65.18. Lineage, Inc. has a 12-month low of $52.75 and a 12-month high of $89.85. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be issued a $0.5275 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 3.54%.

Insider Transactions at Lineage

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the acquisition, the chairman now directly owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

Lineage 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.