Lineage (NASDAQ:LINE) CFO Acquires $826,600.00 in Stock

Lineage, Inc. (NASDAQ:LINE) CFO Robb Lemasters bought 20,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were bought at an average price of $41.33 per share, for a total transaction of $826,600.00. Following the transaction, the chief financial officer owned 49,500 shares of the company’s stock, valued at approximately $2,045,835. This represents a 67.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Lineage Price Performance

NASDAQ LINE traded down $1.01 during trading hours on Monday, hitting $41.35. The company had a trading volume of 1,360,317 shares, compared to its average volume of 1,168,611. Lineage, Inc. has a 52 week low of $31.33 and a 52 week high of $45.75. The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of -57.43 and a beta of 0.84. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78. The firm has a 50 day simple moving average of $42.94 and a 200 day simple moving average of $39.33.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, June 30th were paid a $0.5325 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.13 annualized dividend and a yield of 5.2%. Lineage’s dividend payout ratio is currently -295.83%.

Hedge Funds Weigh In On Lineage

A number of hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in Lineage during the 4th quarter valued at about $482,255,000. BlackRock Inc. bought a new position in Lineage in the 2nd quarter worth $227,511,000. Morgan Stanley grew its holdings in Lineage by 378.6% during the fourth quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock valued at $175,607,000 after purchasing an additional 3,968,958 shares during the period. Bank of America Corp DE grew its holdings in Lineage by 712.1% during the first quarter. Bank of America Corp DE now owns 3,610,123 shares of the company’s stock valued at $118,268,000 after purchasing an additional 3,165,593 shares during the period. Finally, Darlington Partners Capital Management LP increased its position in Lineage by 45.5% in the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock worth $198,332,000 after buying an additional 1,605,810 shares in the last quarter.

Analyst Upgrades and Downgrades

LINE has been the subject of several research analyst reports. Piper Sandler lifted their target price on shares of Lineage from $35.00 to $46.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Morgan Stanley boosted their target price on Lineage from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 2nd. Barclays increased their price target on shares of Lineage from $34.00 to $35.00 and gave the company an “underweight” rating in a research report on Friday, May 15th. Weiss Ratings upgraded Lineage from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $45.00 target price on shares of Lineage in a research report on Thursday, June 18th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Lineage has an average rating of “Hold” and an average target price of $43.62.

About Lineage

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.