Lineage (NASDAQ:LINE) Chairman Buys $438,219.10 in Stock

Lineage, Inc. (NASDAQ:LINE) Chairman Kevin Patrick Marchetti acquired 11,222 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was acquired at an average cost of $39.05 per share, for a total transaction of $438,219.10. Following the transaction, the chairman owned 100,390 shares of the company’s stock, valued at $3,920,229.50. This represents a 12.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lineage Stock Down 1.2%

Lineage stock opened at $36.43 on Friday. The company has a market cap of $8.27 billion, a P/E ratio of -84.72 and a beta of -0.42. Lineage, Inc. has a 1-year low of $32.46 and a 1-year high of $61.01. The company has a fifty day simple moving average of $37.54 and a 200 day simple moving average of $37.78. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.70). Lineage had a negative return on equity of 1.06% and a negative net margin of 1.87%.The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm earned $0.83 earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. Research analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Wednesday, December 31st were given a $0.5275 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.8%. Lineage’s payout ratio is currently -490.70%.

Analyst Upgrades and Downgrades

LINE has been the subject of several recent research reports. The Goldman Sachs Group reduced their price target on Lineage from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, November 25th. Scotiabank upped their price objective on Lineage from $39.00 to $42.00 and gave the stock a “hold” rating in a research note on Wednesday. Morgan Stanley cut their price objective on Lineage from $46.00 to $39.00 and set an “equal weight” rating for the company in a report on Tuesday, December 16th. Barclays reissued a “positive” rating on shares of Lineage in a research note on Wednesday, February 4th. Finally, Truist Financial boosted their target price on shares of Lineage from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $43.18.

Institutional Investors Weigh In On Lineage

A number of large investors have recently added to or reduced their stakes in LINE. Norges Bank acquired a new stake in Lineage during the 2nd quarter valued at $606,642,000. Morgan Stanley increased its holdings in shares of Lineage by 378.6% in the fourth quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock valued at $175,607,000 after purchasing an additional 3,968,958 shares during the last quarter. Darlington Partners Capital Management LP raised its position 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 valued at $198,332,000 after purchasing an additional 1,605,810 shares during the period. AQR Capital Management LLC raised its position in shares of Lineage by 636.1% in the fourth quarter. AQR Capital Management LLC now owns 1,330,439 shares of the company’s stock valued at $46,273,000 after purchasing an additional 1,149,686 shares during the period. Finally, HighTower Advisors LLC acquired a new stake in shares of Lineage during the 3rd quarter worth about $43,804,000.

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.