Robert Crisci Acquires 10,000 Shares of Lineage (NASDAQ:LINE) Stock

Lineage, Inc. (NASDAQ:LINE) CFO Robert Crisci acquired 10,000 shares of the stock in a transaction on Friday, November 7th. The stock was acquired at an average cost of $34.56 per share, for a total transaction of $345,600.00. Following the acquisition, the chief financial officer directly owned 107,859 shares in the company, valued at $3,727,607.04. This represents a 10.22% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Lineage Stock Performance

Shares of LINE stock opened at $34.55 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76. The stock has a 50 day simple moving average of $39.71 and a 200-day simple moving average of $42.39. The company has a market cap of $7.90 billion, a price-to-earnings ratio of -43.73 and a beta of -0.19. Lineage, Inc. has a 12-month low of $33.30 and a 12-month high of $67.28.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.30%.The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities analysts forecast 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 Tuesday, October 21st. Investors of record on Tuesday, September 30th were paid a $0.5275 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.11 annualized dividend and a dividend yield of 6.1%. Lineage’s dividend payout ratio (DPR) is -267.09%.

Institutional Trading of Lineage

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Costello Asset Management INC purchased a new position in Lineage in the 1st quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of Lineage by 172.4% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after buying an additional 362 shares during the period. Signaturefd LLC boosted its position in Lineage by 132.3% during the second quarter. Signaturefd LLC now owns 648 shares of the company’s stock worth $28,000 after acquiring an additional 369 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Lineage by 82.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after acquiring an additional 300 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Lineage by 170.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock valued at $43,000 after acquiring an additional 460 shares during the last quarter.

Wall Street Analysts Forecast Growth

LINE has been the topic of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Lineage from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Truist Financial dropped their price objective on Lineage from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, August 22nd. Wells Fargo & Company decreased their target price on Lineage from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 27th. UBS Group dropped their price target on Lineage from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Finally, Bank of America reiterated an “underperform” rating and issued a $42.00 price objective (down from $47.00) on shares of Lineage in a research report on Monday, August 11th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $47.00.

Lineage Company 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.