Lineage, Inc. (NASDAQ:LINE) Chairman Kevin Patrick Marchetti Purchases 11,500 Shares of Stock

Lineage, Inc. (NASDAQ:LINE) Chairman Kevin Patrick Marchetti acquired 11,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $43.75 per share, with a total value of $503,125.00. Following the completion of the purchase, the chairman now directly owns 27,733 shares in the company, valued at $1,213,318.75. This represents a 70.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Lineage Stock Up 0.3 %

Shares of NASDAQ:LINE opened at $43.92 on Thursday. Lineage, Inc. has a 12-month low of $42.05 and a 12-month high of $89.85. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The firm has a market cap of $10.02 billion and a PE ratio of -13.64. The company has a fifty day simple moving average of $55.65 and a 200 day simple moving average of $59.78.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business’s revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date was Monday, March 31st. Lineage’s dividend payout ratio is presently -65.53%.

Institutional Trading of Lineage

A number of institutional investors and hedge funds have recently modified their holdings of LINE. GAMMA Investing LLC grew its position in shares of Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 448 shares during the last quarter. FIL Ltd bought a new position in shares of Lineage during the fourth quarter valued at approximately $29,000. Salomon & Ludwin LLC bought a new stake in shares of Lineage in the 1st quarter worth approximately $34,000. Quarry LP acquired a new position in Lineage during the 4th quarter valued at approximately $50,000. Finally, Global X Japan Co. Ltd. bought a new position in Lineage during the 1st quarter worth $74,000.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LINE shares. Morgan Stanley cut their target price on shares of Lineage from $80.00 to $75.00 and set an “overweight” rating for the company in a research report on Tuesday, April 1st. The Goldman Sachs Group cut their price target on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a report on Friday, January 17th. Royal Bank of Canada decreased their price objective on Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Bank of America lowered shares of Lineage from a “buy” rating to a “neutral” rating and set a $49.00 target price on the stock. in a report on Tuesday. Finally, Citigroup began coverage on Lineage in a research note on Friday, March 28th. They issued a “neutral” rating and a $64.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.79.

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.