Darlington Partners Capital Management LP Purchases Shares of 1,545,000 Lineage, Inc. (NASDAQ:LINE)

Darlington Partners Capital Management LP acquired a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,545,000 shares of the company's stock, valued at approximately $90,491,000. Lineage makes up about 3.4% of Darlington Partners Capital Management LP's investment portfolio, making the stock its 10th biggest position. Darlington Partners Capital Management LP owned 0.68% of Lineage at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Lineage during the 4th quarter valued at $681,572,000. Vanguard Group Inc. lifted its stake in shares of Lineage by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company's stock worth $562,003,000 after acquiring an additional 408,526 shares during the period. D1 Capital Partners L.P. boosted its holdings in shares of Lineage by 257.5% in the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock valued at $219,848,000 after acquiring an additional 2,703,598 shares in the last quarter. Baillie Gifford & Co. raised its holdings in 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. Finally, Victory Capital Management Inc. lifted its position in Lineage by 36.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company's stock worth $180,811,000 after purchasing an additional 831,533 shares during the period.

Insiders Place Their Bets

In other news, Chairman Kevin Patrick Marchetti acquired 11,500 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $43.75 per share, for a total transaction of $503,125.00. Following the transaction, the chairman now directly owns 27,733 shares of the company's stock, valued at approximately $1,213,318.75. This trade represents a 70.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sudarsan V. Thattai acquired 4,420 shares of the company's stock in a transaction dated Monday, May 5th. The stock was acquired at an average cost of $45.23 per share, with a total value of $199,916.60. Following the purchase, the insider now owns 4,420 shares of the company's stock, valued at approximately $199,916.60. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 40,237 shares of company stock worth $2,174,220. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LINE has been the subject of several research reports. Scotiabank reaffirmed a "sector perform" rating and set a $56.00 target price (down previously from $74.00) on shares of Lineage in a research note on Thursday, April 10th. Mizuho reduced their target price on Lineage from $86.00 to $67.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Morgan Stanley cut their price objective on Lineage from $80.00 to $75.00 and set an "overweight" rating on the stock in a report on Tuesday, April 1st. Citigroup initiated coverage on shares of Lineage in a report on Friday, March 28th. They set a "neutral" rating and a $64.00 price target on the stock. Finally, Barclays started coverage on shares of Lineage in a research report on Wednesday, April 9th. They set an "overweight" rating and a $59.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Lineage has an average rating of "Moderate Buy" and a consensus price target of $70.79.

Lineage Stock Performance

Lineage stock opened at $43.92 on Thursday. Lineage, Inc. has a 1-year low of $42.05 and a 1-year high of $89.85. The firm has a market cap of $10.02 billion and a P/E ratio of -13.64. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average of $55.65 and a 200-day moving average of $59.78.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The company's revenue was down 2.7% compared to the same quarter last year. Sell-side analysts expect that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Announces Dividend

The company 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. The ex-dividend date was Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 4.80%. Lineage's dividend payout ratio is presently -65.53%.

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.

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