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

Lineage, Inc. (NASDAQ:LINE) Chairman Kevin Patrick Marchetti purchased 25,000 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were acquired at an average price of $39.50 per share, with a total value of $987,500.00. Following the completion of the acquisition, 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. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Lineage Stock Down 0.0%

Shares of NASDAQ:LINE opened at $38.78 on Thursday. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of -53.86 and a beta of 0.82. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.78 and a quick ratio of 0.70. The business’s 50-day moving average is $42.29 and its 200-day moving average is $39.84. Lineage, Inc. has a 1 year low of $31.33 and a 1 year high of $45.75.

Lineage (NASDAQ:LINE) last announced its earnings results on Wednesday, August 5th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.98. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%.The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 EPS. Equities research analysts predict that Lineage, Inc. will post 2.51 earnings per share for the current 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. This represents a $2.13 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Tuesday, June 30th. Lineage’s dividend payout ratio is presently -295.83%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LINE shares. Robert W. Baird set a $43.00 price target on Lineage in a report on Thursday, August 6th. Wall Street Zen raised shares of Lineage from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Truist Financial upped their target price on shares of Lineage from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Evercore set a $44.00 target price on shares of Lineage in a report on Monday, June 8th. Finally, Weiss Ratings raised shares of Lineage from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.20.

Institutional Investors Weigh In On Lineage

A number of large investors have recently added to or reduced their stakes in LINE. Norges Bank bought a new position in shares of Lineage during the 4th quarter valued at about $482,255,000. BlackRock Inc. bought a new position in Lineage during the second quarter valued at approximately $227,511,000. Morgan Stanley raised its stake in shares of Lineage by 378.6% during the fourth quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock worth $175,607,000 after acquiring an additional 3,968,958 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Lineage during the second quarter worth approximately $156,045,000. Finally, California State Teachers Retirement System lifted its holdings in shares of Lineage by 4,146.9% in the 2nd quarter. California State Teachers Retirement System now owns 3,404,208 shares of the company’s stock worth $147,232,000 after acquiring an additional 3,324,051 shares during the last quarter.

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.