Lineage, Inc. (NASDAQ:LINE) Chairman Adam Matthew Schwartz Forste Purchases 10,949 Shares

Lineage, Inc. (NASDAQ:LINE) Chairman Adam Matthew Schwartz Forste purchased 10,949 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was acquired at an average cost of $44.93 per share, with a total value of $491,938.57. Following the completion of the acquisition, the chairman now directly owns 35,266 shares in the company, valued at approximately $1,584,501.38. This trade represents a 45.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Adam Matthew Schwartz Forste also recently made the following trade(s):

• On Friday, February 28th, Adam Matthew Schwartz Forste bought 24,317 shares of Lineage stock. The shares were purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50.

Lineage Stock Down 2.0%

Shares of Lineage stock opened at $46.58 on Wednesday. Lineage, Inc. has a 12-month low of $42.05 and a 12-month high of $89.85. The firm has a market capitalization of $10.65 billion and a PE ratio of -14.47. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average is $54.48 and its 200-day moving average is $58.79.

Lineage (NASDAQ:LINE) last announced its 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. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.34 billion. The firm’s revenue was down 2.7% on a year-over-year basis. Equities analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were paid a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date was Monday, March 31st. Lineage’s dividend payout ratio is -65.53%.

Institutional Trading of Lineage

Several large investors have recently added to or reduced their stakes in LINE. GAMMA Investing LLC boosted 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 worth $27,000 after buying an additional 448 shares during the period. Costello Asset Management INC purchased a new position in shares of Lineage during the first quarter valued at $29,000. FIL Ltd purchased a new position in shares of Lineage during the fourth quarter valued at $29,000. Salomon & Ludwin LLC purchased a new position in shares of Lineage during the first quarter valued at $34,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Lineage by 170.4% during the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock valued at $43,000 after buying an additional 460 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LINE shares. Morgan Stanley reduced their target price on shares of Lineage from $80.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, April 1st. Royal Bank of Canada reduced their target price on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Robert W. Baird reduced their target price on shares of Lineage from $70.00 to $64.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Scotiabank reissued a “sector perform” rating and set a $56.00 target price (down from $74.00) on shares of Lineage in a research note on Thursday, April 10th. Finally, Evercore ISI reduced their target price on shares of Lineage from $68.00 to $59.00 and set an “in-line” rating for the company in a research note on Thursday, May 1st. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lineage has an average rating of “Moderate Buy” and a consensus price target of $70.79.

About Lineage

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.