Lineage, Inc. $LINE Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in Lineage, Inc. (NASDAQ:LINE) by 18.0% during the second quarter, HoldingsChannel reports. The firm owned 144,790 shares of the company’s stock after selling 31,862 shares during the period. Hsbc Holdings PLC’s holdings in Lineage were worth $6,261,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Lineage during the fourth quarter worth $482,255,000. BlackRock Inc. acquired a new stake in shares of Lineage in the second quarter valued at about $227,511,000. Darlington Partners Capital Management LP lifted its stake in shares of Lineage by 45.5% in the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock worth $198,332,000 after buying an additional 1,605,810 shares in the last quarter. Morgan Stanley lifted its stake in shares of Lineage by 378.6% in the fourth quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock worth $175,607,000 after buying an additional 3,968,958 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Lineage by 712.1% in the first quarter. Bank of America Corp DE now owns 3,610,123 shares of the company’s stock worth $118,268,000 after buying an additional 3,165,593 shares in the last quarter.

Insider Buying and Selling

In other news, CFO Robb LeMasters purchased 20,000 shares of Lineage stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $41.33 per share, with a total value of $826,600.00. Following the transaction, the chief financial officer owned 49,500 shares in the company, valued at $2,045,835. This represents a 67.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Kevin Marchetti purchased 25,000 shares of Lineage stock in a transaction dated Friday, August 28th. The shares were purchased at an average cost of $39.50 per share, for a total transaction of $987,500.00. Following the transaction, the chairman owned 138,690 shares in the company, valued at approximately $5,478,255. This trade represents a 21.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 71.60% of the stock is owned by company insiders.

Lineage Trading Down 0.8%

Shares of LINE stock opened at $37.59 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84. Lineage, Inc. has a twelve month low of $31.33 and a twelve month high of $45.75. The company’s 50-day moving average price is $41.72 and its 200-day moving average price is $39.86. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of -52.21 and a beta of 0.82.

Lineage (NASDAQ:LINE) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.98. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.85%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the business earned $0.81 earnings per share. Lineage’s revenue was up .8% compared to the same quarter last year. As a group, equities analysts predict that Lineage, Inc. will post 2.51 earnings per share for the current year.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.5325 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.13 dividend on an annualized basis and a dividend yield of 5.7%. Lineage’s dividend payout ratio (DPR) is currently -295.83%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LINE shares. Evercore set a $44.00 price objective on shares of Lineage in a research note on Monday, June 8th. Piper Sandler decreased their target price on shares of Lineage from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th. Scotiabank restated a “sector perform” rating and set a $45.00 target price on shares of Lineage in a report on Thursday, June 18th. Citigroup upped their price target on Lineage from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada increased their price target on Lineage from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, August 17th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Lineage has a consensus rating of “Hold” and an average target price of $44.20.

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.