BNP PARIBAS ASSET MANAGEMENT Holding S.A. Lowers Position in Lineage, Inc. $LINE

Key Points

• BNP Paribas Asset Management reduced its stake in Lineage, Inc. by 20.4%, selling 31,775 shares and ending with a total of 124,208 shares valued at approximately $7.28 million.
• Lineage reported $1.35 billion in revenue for the quarter, surpassing estimates, and posted an EPS of $0.81, exceeding analyst expectations of $0.75.
• Insider purchases surged, with Chairman Kevin Patrick Marchetti acquiring 23,540 shares valued at nearly $1 million, indicating confidence in the company's future performance.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 20.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,208 shares of the company's stock after selling 31,775 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.05% of Lineage worth $7,282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LINE. Costello Asset Management INC bought a new position in shares of Lineage in the 1st quarter valued at $29,000. Salomon & Ludwin LLC acquired a new stake in Lineage in the first quarter valued at about $34,000. PNC Financial Services Group Inc. grew its position in Lineage by 170.4% in the first 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. Quarry LP acquired a new position in Lineage during the fourth quarter worth about $50,000. Finally, Global X Japan Co. Ltd. acquired a new position in Lineage during the first quarter worth about $74,000.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti acquired 23,540 shares of the stock in a transaction dated Friday, August 8th. The stock was purchased 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 in the company, valued at approximately $2,635,016.44. The trade was a 60.70% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sudarsan V. Thattai bought 3,563 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the transaction, the insider owned 7,983 shares in the company, valued at $338,878.35. This represents a 80.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 39,448 shares of company stock worth $1,645,752. 71.90% of the stock is owned by company insiders.

Lineage Trading Down 0.2%

LINE traded down $0.09 during midday trading on Thursday, hitting $39.09. 880,788 shares of the company were exchanged, compared to its average volume of 1,194,116. The firm has a market capitalization of $8.94 billion and a P/E ratio of -14.01. Lineage, Inc. has a 1-year low of $38.83 and a 1-year high of $86.60. The firm's 50 day moving average price is $42.81 and its 200-day moving average price is $49.52. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72.

Lineage (NASDAQ:LINE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.33 billion. The company's revenue was up .9% on a year-over-year basis. As a group, equities analysts forecast that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Monday, June 30th. Lineage's dividend payout ratio (DPR) is currently -75.63%.

Wall Street Analysts Forecast Growth

LINE has been the topic of a number of research analyst reports. Evercore ISI reduced their price target on shares of Lineage from $59.00 to $45.00 and set an "in-line" rating on the stock in a research note on Friday, August 8th. Bank of America restated an "underperform" rating and issued a $42.00 target price (down previously from $47.00) on shares of Lineage in a research report on Monday, August 11th. Piper Sandler lowered their price target 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. JPMorgan Chase & Co. cut Lineage from a "neutral" rating to an "underweight" rating and dropped their price target for the company from $55.00 to $50.00 in a research note on Monday, June 23rd. Finally, Robert W. Baird reduced their price objective on Lineage from $64.00 to $51.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 13th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $53.56.

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.