Lineage, Inc. (NASDAQ:LINE) Stake Lowered by Seven Grand Managers LLC

Seven Grand Managers LLC lessened its stake in Lineage, Inc. (NASDAQ:LINE) by 51.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,000 shares of the company’s stock after selling 160,000 shares during the quarter. Lineage accounts for 4.0% of Seven Grand Managers LLC’s investment portfolio, making the stock its 6th largest position. Seven Grand Managers LLC owned approximately 0.07% of Lineage worth $8,786,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. FIL Ltd purchased a new stake in Lineage during the fourth quarter worth $29,000. Quarry LP acquired a new position in shares of Lineage during the 4th quarter worth $50,000. Stifel Financial Corp raised its stake in shares of Lineage by 30.5% during the 4th quarter. Stifel Financial Corp now owns 3,509 shares of the company’s stock worth $206,000 after buying an additional 821 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Lineage in the 4th quarter worth about $208,000. Finally, Sterling Capital Management LLC grew its stake in Lineage by 61.8% in the 4th quarter. Sterling Capital Management LLC now owns 3,703 shares of the company’s stock valued at $217,000 after acquiring an additional 1,415 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Robert W. Baird dropped their target price on shares of Lineage from $70.00 to $64.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Barclays began coverage on shares of Lineage in a research report on Wednesday, April 9th. They issued an “overweight” rating and a $59.00 price target on the stock. UBS Group cut their price objective on Lineage from $62.00 to $49.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Morgan Stanley reduced their target price on Lineage from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 1st. Finally, The Goldman Sachs Group lowered their target price on Lineage from $74.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.74.

Lineage Stock Performance

Lineage stock opened at $47.30 on Friday. The stock has a fifty day moving average price of $53.91 and a 200 day moving average price of $58.50. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. Lineage, Inc. has a 52 week low of $42.05 and a 52 week high of $89.85. The firm has a market capitalization of $10.81 billion and a P/E ratio of -14.69.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.34 billion. The business’s quarterly revenue was down 2.7% on a year-over-year basis. Equities research analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Monday, March 31st. Lineage’s dividend payout ratio (DPR) is -65.53%.

Insiders Place Their Bets

In other news, insider Sudarsan V. Thattai bought 4,420 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was acquired at an average price of $45.23 per share, for a total transaction of $199,916.60. Following the acquisition, the insider now owns 4,420 shares of the company’s stock, valued at $199,916.60. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Adam Matthew Schwartz Forste bought 10,949 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average cost of $44.93 per share, with a total value of $491,938.57. Following the transaction, the chairman now owns 35,266 shares in the company, valued at approximately $1,584,501.38. This represents a 45.03% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 51,186 shares of company stock valued at $2,666,159 over the last quarter. Company insiders own 1.40% of the company’s stock.

Lineage 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.