Kevin Patrick Marchetti Buys 25,000 Shares of Lineage (NASDAQ:LINE) Stock

Lineage, Inc. (NASDAQ:LINE) Chairman Kevin Patrick Marchetti purchased 25,000 shares of Lineage stock in a transaction on Friday, August 28th. The stock was bought at an average price of $39.50 per share, with a total value of $987,500.00. Following the transaction, the chairman owned 138,690 shares of the company’s stock, valued at approximately $5,478,255. This represents a 21.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Lineage Stock Performance

Shares of LINE stock traded down $0.46 during trading hours on Tuesday, reaching $38.79. 695,115 shares of the company traded hands, compared to its average volume of 1,124,088. The firm has a 50-day moving average price of $42.38 and a 200 day moving average price of $39.84. The company has a market cap of $8.83 billion, a P/E ratio of -53.87 and a beta of 0.84. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.78 and a quick ratio of 0.70. Lineage, Inc. has a 12-month low of $31.33 and a 12-month high of $45.75.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.98. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.85%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. As a group, sell-side analysts predict that Lineage, Inc. will post 2.51 earnings per share for the current fiscal year.

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.5325 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.13 dividend on an annualized basis and a yield of 5.5%. Lineage’s dividend payout ratio (DPR) is currently -295.83%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LINE shares. Weiss Ratings raised Lineage from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 6th. Robert W. Baird set a $43.00 price objective on shares of Lineage in a research report on Thursday, August 6th. Truist Financial boosted their target price on shares of Lineage from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Royal Bank Of Canada upped their target price on shares of Lineage from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, August 17th. Finally, Wall Street Zen upgraded Lineage from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $44.20.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its holdings in Lineage by 1.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,626 shares of the company’s stock valued at $874,000 after acquiring an additional 350 shares during the period. EverSource Wealth Advisors LLC increased its stake in Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after purchasing an additional 362 shares during the period. Vanderbilt University lifted its position in shares of Lineage by 4.1% during the first quarter. Vanderbilt University now owns 10,925 shares of the company’s stock worth $358,000 after purchasing an additional 431 shares during the last quarter. Allworth Financial LP lifted its position in shares of Lineage by 106.6% during the fourth quarter. Allworth Financial LP now owns 940 shares of the company’s stock worth $33,000 after purchasing an additional 485 shares during the last quarter. Finally, Amundi boosted its stake in shares of Lineage by 1.5% during the third quarter. Amundi now owns 35,805 shares of the company’s stock valued at $1,481,000 after purchasing an additional 512 shares during the period.

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.