Fairview Capital Investment Management LLC Invests $11.77 Million in Lineage, Inc. (NASDAQ:LINE)

Fairview Capital Investment Management LLC bought a new stake in Lineage, Inc. (NASDAQ:LINE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 200,925 shares of the company's stock, valued at approximately $11,768,000. Fairview Capital Investment Management LLC owned 0.09% of Lineage as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LINE. Norges Bank acquired a new position in shares of Lineage in the 4th quarter worth approximately $681,572,000. D1 Capital Partners L.P. lifted its position in shares of Lineage by 257.5% during the 4th 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 during the period. Principal Financial Group Inc. acquired a new position in shares of Lineage during the 3rd quarter valued at $173,115,000. Darlington Partners Capital Management LP acquired a new position in Lineage during the fourth quarter worth $90,491,000. Finally, 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 buying an additional 1,384,481 shares during the last quarter.

Lineage Trading Down 1.3%

NASDAQ:LINE traded down $0.62 during midday trading on Wednesday, hitting $45.96. 610,815 shares of the company traded hands, compared to its average volume of 1,262,465. The firm's fifty day moving average is $54.48 and its 200-day moving average is $58.79. Lineage, Inc. has a 12-month low of $42.05 and a 12-month high of $89.85. The firm has a market capitalization of $10.51 billion and a P/E ratio of -14.27. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

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

Lineage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 4.59%. The ex-dividend date was Monday, March 31st. Lineage's dividend payout ratio (DPR) is presently -65.53%.

Insider Buying and Selling at Lineage

In other news, Chairman Kevin Patrick Marchetti purchased 11,500 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $43.75 per share, with a total value of $503,125.00. Following the transaction, the chairman now owns 27,733 shares of the company's stock, valued at $1,213,318.75. This represents a 70.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the company's stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the transaction, the chairman now directly owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 51,186 shares of company stock valued at $2,666,159 in the last quarter. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Robert W. Baird reduced their target price on shares of Lineage from $70.00 to $64.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Piper Sandler dropped their price objective on shares of Lineage from $75.00 to $60.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Morgan Stanley lowered their price target on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating on the stock in a report on Tuesday, April 1st. Evercore ISI lowered their price target on shares of Lineage from $68.00 to $59.00 and set an "in-line" rating on the stock in a report on Thursday, May 1st. Finally, Bank of America downgraded shares of Lineage from a "buy" rating to a "neutral" rating and set a $49.00 target price on the stock. in a research note on Tuesday, May 6th. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lineage presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.05.

About Lineage

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.