Alyeska Investment Group L.P. Has $1.04 Million Stake in Lineage, Inc. $LINE

Key Points

• Alyeska Investment Group L.P. significantly reduced its stake in Lineage, Inc. by selling 1,179,151 shares, resulting in a remaining ownership of 17,697 shares valued at approximately $1,038,000.
• Lineage recently reported stronger-than-expected earnings, with an EPS of $0.81 for the quarter, surpassing analyst projections of $0.75.
• The company declared a quarterly dividend of $0.5275 per share, reflecting an annualized yield of 5.2%, despite a negative payout ratio of -75.63%.

Alyeska Investment Group L.P. lessened its holdings in Lineage, Inc. (NASDAQ:LINE - Free Report) by 98.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,697 shares of the company's stock after selling 1,179,151 shares during the period. Alyeska Investment Group L.P.'s holdings in Lineage were worth $1,038,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LINE. Costello Asset Management INC acquired a new position in Lineage during the 1st quarter worth $29,000. Salomon & Ludwin LLC acquired a new stake in shares of Lineage in the 1st quarter worth approximately $34,000. PNC Financial Services Group Inc. lifted its stake in shares of Lineage by 170.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company's stock worth $43,000 after acquiring an additional 460 shares during the period. Global X Japan Co. Ltd. bought a new stake in shares of Lineage in the 1st quarter worth approximately $74,000. Finally, Quarry LP raised its holdings in shares of Lineage by 168.4% in the 1st quarter. Quarry LP now owns 2,308 shares of the company's stock worth $135,000 after purchasing an additional 1,448 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their price target on shares of Lineage from $60.00 to $53.00 and set a "buy" rating on the stock in a report on Friday, August 22nd. Evercore ISI decreased their target price on shares of Lineage from $50.00 to $43.00 and set an "in-line" rating for the company in a research report on Monday. KeyCorp reaffirmed a "sector weight" rating and set a $84.00 price objective on shares of Lineage in a report on Tuesday, July 1st. Piper Sandler decreased their price objective on shares of Lineage from $60.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, BNP Paribas Exane cut shares of Lineage from a "neutral" rating to an "underperform" rating and set a $42.00 target price for the company. in a research note on Thursday, June 12th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, Lineage has an average rating of "Hold" and a consensus price target of $52.79.

Insiders Place Their Bets

In related news, insider Sudarsan V. Thattai acquired 3,563 shares of Lineage stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $42.45 per share, with a total value of $151,249.35. Following the completion of the transaction, the insider directly owned 7,983 shares in the company, valued at $338,878.35. This trade represents a 80.61% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Kevin Patrick Marchetti bought 23,540 shares of Lineage stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $42.28 per share, with a total value of $995,271.20. Following the transaction, the chairman 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 disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 39,448 shares of company stock valued at $1,645,752. Company insiders own 71.90% of the company's stock.

Lineage Trading Down 1.4%

Shares of NASDAQ:LINE traded down $0.60 during mid-day trading on Friday, reaching $41.79. The stock had a trading volume of 1,187,089 shares, compared to its average volume of 1,005,735. The firm has a market cap of $9.56 billion, a PE ratio of -14.98 and a beta of -0.22. The firm has a 50 day simple moving average of $41.87 and a two-hundred day simple moving average of $47.85. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. Lineage, Inc. has a twelve month low of $38.83 and a twelve month high of $84.86.

Lineage (NASDAQ:LINE - Get Free Report) last announced its 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. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. Lineage's revenue for the quarter was up .9% compared to the same quarter last year. On average, research analysts predict that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Lineage's payout ratio is -75.63%.

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.