Lineage (NASDAQ:LINE) Sets New 52-Week Low – Here’s Why

Lineage, Inc. (NASDAQ:LINE) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $48.00 and last traded at $54.25, with a volume of 603 shares changing hands. The stock had previously closed at $54.35.

Analyst Ratings Changes

Several research firms have commented on LINE. Piper Sandler lowered their price target on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Scotiabank upped their target price on Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $78.00 to $75.00 in a research report on Friday, December 20th. Citigroup began coverage on Lineage in a report on Friday, March 28th. They issued a “neutral” rating and a $64.00 price target for the company. Finally, Mizuho dropped their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lineage presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.67.

Lineage Stock Performance

The company has a fifty day moving average of $58.30 and a 200-day moving average of $63.84. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Monday, March 31st.

Insider Activity at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the transaction, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of Lineage by 7,466.7% in the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 448 shares in the last quarter. FIL Ltd purchased a new stake in Lineage in the 4th quarter valued at $29,000. Quarry LP purchased a new stake in Lineage in the 4th quarter valued at $50,000. Stifel Financial Corp acquired a new stake in shares of Lineage in the 3rd quarter worth $211,000. Finally, MetLife Investment Management LLC purchased a new position in shares of Lineage during the 3rd quarter worth $226,000.

Lineage Company 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.