Lineage, Inc. $LINE Shares Acquired by MAI Capital Management

MAI Capital Management increased its stake in shares of Lineage, Inc. (NASDAQ:LINE) by 91,379.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,865 shares of the company’s stock after acquiring an additional 65,793 shares during the period. MAI Capital Management’s holdings in Lineage were worth $3,862,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of LINE. Costello Asset Management INC purchased a new stake in Lineage in the 1st quarter worth approximately $29,000. Salomon & Ludwin LLC acquired a new position in shares of Lineage in the 1st quarter valued at $34,000. PNC Financial Services Group Inc. boosted its holdings in Lineage by 170.4% during the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock worth $43,000 after buying an additional 460 shares in the last quarter. Global X Japan Co. Ltd. acquired a new stake in Lineage during the first quarter valued at $74,000. Finally, Quarry LP increased its holdings in Lineage by 168.4% in the first quarter. Quarry LP now owns 2,308 shares of the company’s stock valued at $135,000 after buying an additional 1,448 shares in the last quarter.

Insider Activity

In other Lineage news, Chairman Kevin Patrick Marchetti bought 23,540 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $42.28 per share, with a total value of $995,271.20. Following the purchase, the chairman directly owned 62,323 shares of the company’s stock, valued at $2,635,016.44. This trade represents a 60.70% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sudarsan V. Thattai bought 3,563 shares of the stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the acquisition, the insider owned 7,983 shares in the company, valued at approximately $338,878.35. The trade was a 80.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 39,448 shares of company stock worth $1,645,752. Insiders own 71.90% of the company’s stock.

Wall Street Analysts Forecast Growth

LINE has been the topic of several recent analyst reports. Citigroup lowered their target price on shares of Lineage from $64.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, June 12th. Barclays lowered their price target on Lineage from $59.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, July 21st. Truist Financial cut their price objective on Lineage from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, August 22nd. JPMorgan Chase & Co. lowered Lineage from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $55.00 to $50.00 in a research report on Monday, June 23rd. Finally, BNP Paribas set a $42.00 price target on shares of Lineage in a research note on Thursday, June 12th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $53.26.

Lineage Price Performance

Shares of Lineage stock opened at $41.91 on Tuesday. The stock has a market capitalization of $9.59 billion, a P/E ratio of -15.02 and a beta of -0.22. The business has a 50 day simple moving average of $42.39 and a two-hundred day simple moving average of $48.62. Lineage, Inc. has a 12 month low of $38.83 and a 12 month high of $84.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.96 and a quick ratio of 0.83.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.75 by $0.06. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The firm’s revenue was up .9% compared to the same quarter last year. As a group, analysts predict that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, June 30th were paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Monday, June 30th. Lineage’s dividend payout ratio (DPR) is currently -75.63%.

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.