Sudarsan V. Thattai Buys 4,420 Shares of Lineage, Inc. (NASDAQ:LINE) Stock

Lineage, Inc. (NASDAQ:LINE) insider Sudarsan V. Thattai purchased 4,420 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was bought at an average cost of $45.23 per share, for a total transaction of $199,916.60. Following the purchase, the insider now directly owns 4,420 shares in the company, valued at $199,916.60. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Lineage Stock Performance

Shares of NASDAQ LINE opened at $45.62 on Friday. The firm has a market capitalization of $10.41 billion and a price-to-earnings ratio of -14.17. 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 business has a fifty day simple moving average of $55.05 and a 200 day simple moving average of $59.33. Lineage, Inc. has a one year low of $42.05 and a one year high of $89.85.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Sell-side analysts expect that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were paid a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 4.63%. Lineage’s dividend payout ratio is currently -65.53%.

Analyst Upgrades and Downgrades

LINE has been the subject of a number of recent analyst reports. Scotiabank reaffirmed a “sector perform” rating and issued a $56.00 price objective (down previously from $74.00) on shares of Lineage in a research note on Thursday, April 10th. Barclays initiated coverage on Lineage in a research report on Wednesday, April 9th. They set an “overweight” rating and a $59.00 price target on the stock. BNP Paribas began coverage on Lineage in a research note on Tuesday, January 14th. They set a “neutral” rating and a $61.00 target price on the stock. Robert W. Baird reduced their price target on shares of Lineage from $70.00 to $64.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Finally, Piper Sandler lowered their price objective on shares of Lineage from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lineage currently has an average rating of “Moderate Buy” and an average price target of $70.79.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased 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 worth $27,000 after purchasing an additional 448 shares in the last quarter. FIL Ltd bought a new stake in Lineage during the fourth quarter worth about $29,000. Costello Asset Management INC acquired a new stake in shares of Lineage during the first quarter worth approximately $29,000. Salomon & Ludwin LLC bought a new position in shares of Lineage in the first quarter valued at approximately $34,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Lineage by 170.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock worth $43,000 after acquiring an additional 460 shares in the last quarter.

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.