Lineage, Inc. (NASDAQ:LINE) Shares Sold by Sandia Investment Management LP

Sandia Investment Management LP cut its holdings in shares of Lineage, Inc. (NASDAQ:LINE) by 40.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,500 shares of the company’s stock after selling 5,000 shares during the period. Lineage comprises approximately 1.0% of Sandia Investment Management LP’s investment portfolio, making the stock its 26th biggest holding. Sandia Investment Management LP’s holdings in Lineage were worth $439,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LINE. Norges Bank purchased a new position in Lineage in the fourth quarter valued at $681,572,000. D1 Capital Partners L.P. increased its stake in shares of Lineage by 257.5% during the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company’s stock worth $219,848,000 after purchasing an additional 2,703,598 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Lineage by 92.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company’s stock worth $189,380,000 after purchasing an additional 1,550,478 shares in the last quarter. Darlington Partners Capital Management LP purchased a new stake in shares of Lineage during the fourth quarter worth about $90,491,000. Finally, Baillie Gifford & Co. increased its stake in shares of Lineage by 80.8% during the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company’s stock worth $181,484,000 after purchasing an additional 1,384,481 shares in the last quarter.

Lineage Stock Performance

Shares of LINE stock opened at $47.63 on Friday. The firm’s 50 day moving average price is $53.69 and its 200-day moving average price is $58.30. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. Lineage, Inc. has a one year low of $42.05 and a one year high of $89.85. The firm has a market cap of $10.89 billion and a P/E ratio of -14.79.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data 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 company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.34 billion. Lineage’s revenue was down 2.7% compared to the same quarter last year. As a group, equities research analysts predict 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. Investors of record on Monday, March 31st were paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Monday, March 31st. Lineage’s dividend payout ratio (DPR) is -65.53%.

Analysts Set New Price Targets

LINE has been the subject of a number of research reports. Piper Sandler cut their target price on shares of Lineage from $75.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Royal Bank of Canada cut 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. Barclays initiated coverage on shares of Lineage in a research note on Wednesday, April 9th. They set an “overweight” rating and a $59.00 target price for the company. Citigroup began coverage on shares of Lineage in a research note on Friday, March 28th. They set a “neutral” rating and a $64.00 target price for the company. Finally, UBS Group lowered their price target on shares of Lineage from $62.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Ten research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.74.

Insider Activity at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the business’s stock in a transaction on Friday, February 28th. The stock was bought at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the transaction, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sudarsan V. Thattai bought 4,420 shares of the business’s stock in a transaction on Monday, May 5th. The shares were acquired at an average price of $45.23 per share, with a total value of $199,916.60. Following the transaction, the insider now owns 4,420 shares of the company’s stock, valued at $199,916.60. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased 51,186 shares of company stock worth $2,666,159 over the last 90 days. 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.