BNP Paribas Financial Markets Reduces Position in Lineage, Inc. (NASDAQ:LINE)

BNP Paribas Financial Markets lessened its holdings in Lineage, Inc. (NASDAQ:LINE - Free Report) by 25.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,431 shares of the company's stock after selling 9,752 shares during the quarter. BNP Paribas Financial Markets' holdings in Lineage were worth $1,665,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Renaissance Capital LLC grew its stake in shares of Lineage by 25.6% during the fourth quarter. Renaissance Capital LLC now owns 83,446 shares of the company's stock valued at $4,887,000 after buying an additional 16,990 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its holdings in Lineage by 10.5% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 602,803 shares of the company's stock valued at $35,306,000 after acquiring an additional 57,302 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Lineage by 130.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,070,915 shares of the company's stock valued at $62,723,000 after acquiring an additional 605,670 shares during the period. Adage Capital Partners GP L.L.C. grew its position in Lineage by 16.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 175,000 shares of the company's stock worth $10,250,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in Lineage in the 4th quarter worth approximately $305,000.

Lineage Stock Up 0.4%

LINE traded up $0.17 during midday trading on Thursday, reaching $45.64. The company's stock had a trading volume of 874,526 shares, compared to its average volume of 1,249,555. Lineage, Inc. has a 1 year low of $42.05 and a 1 year high of $89.85. The stock's 50-day moving average is $53.05 and its 200-day moving average is $57.74. The firm has a market capitalization of $10.43 billion and a price-to-earnings ratio of -14.17. 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 posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, topping 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 the consensus estimate of $1.34 billion. The business's revenue was down 2.7% compared to the same quarter last year. As a group, research analysts expect that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were paid a $0.5275 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.62%. Lineage's dividend payout ratio is currently -65.53%.

Insider Transactions at Lineage

In other news, Chairman Kevin Patrick Marchetti acquired 11,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average cost of $43.75 per share, for a total transaction of $503,125.00. Following the acquisition, the chairman now directly owns 27,733 shares in the company, valued at approximately $1,213,318.75. The trade was a 70.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Adam Matthew Schwartz Forste acquired 10,949 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average cost of $44.93 per share, for a total transaction of $491,938.57. Following the completion of the transaction, the chairman now directly owns 35,266 shares in the company, valued at $1,584,501.38. This represents a 45.03% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 51,186 shares of company stock valued at $2,666,159. Insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LINE. Scotiabank dropped their price objective on Lineage from $56.00 to $50.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. 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 for the company. Barclays assumed coverage on shares of Lineage in a report on Wednesday, April 9th. They issued an "overweight" rating and a $59.00 price target on the stock. Evercore ISI decreased their price objective on shares of Lineage from $68.00 to $59.00 and set an "in-line" rating on the stock in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group lowered their price objective on shares of Lineage from $74.00 to $63.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $67.58.

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.