Dark Forest Capital Management LP Takes Position in Lineage, Inc. $LINE

Key Points

• Dark Forest Capital Management LP purchased 112,015 shares of Lineage, Inc., valued at approximately $6.57 million, highlighting increased institutional interest in the company.
• Insiders, including Sudarsan V. Thattai and Chairman Kevin Patrick Marchetti, significantly increased their holdings in Lineage with recent transactions, indicating confidence in the company's future.
• Analysts have varied opinions on Lineage, with price targets ranging from $50.00 to $64.00 and a consensus rating of "Hold" amid fluctuating market conditions.

Dark Forest Capital Management LP acquired a new stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 112,015 shares of the company's stock, valued at approximately $6,567,000.

A number of other hedge funds have also recently modified their holdings of LINE. Price T Rowe Associates Inc. MD grew its position in shares of Lineage by 75.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company's stock valued at $255,903,000 after acquiring an additional 1,880,587 shares during the period. Janus Henderson Group PLC boosted its holdings in Lineage by 92.1% in the 4th quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company's stock worth $189,380,000 after buying an additional 1,550,478 shares during the period. Darlington Partners Capital Management LP bought a new position in Lineage in the 4th quarter worth $90,491,000. Nuveen LLC bought a new position in Lineage in the 1st quarter worth $37,468,000. Finally, Lunate Capital Ltd bought a new position in Lineage in the 1st quarter worth $35,178,000.

Lineage Price Performance

Shares of LINE traded up $0.13 during midday trading on Friday, hitting $40.59. 889,235 shares of the company traded hands, compared to its average volume of 1,002,336. The firm has a 50 day moving average of $42.06 and a 200-day moving average of $48.21. Lineage, Inc. has a 52 week low of $38.83 and a 52 week high of $84.86. The stock has a market cap of $9.29 billion, a price-to-earnings ratio of -14.55 and a beta of -0.22. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.96.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, beating 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 business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. The business's revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts forecast 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 was paid on Monday, July 21st. Shareholders of record on Monday, June 30th were issued a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Monday, June 30th. Lineage's dividend payout ratio is -75.63%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler dropped their target price 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. Bank of America reaffirmed an "underperform" rating and issued a $42.00 target price (down previously from $47.00) on shares of Lineage in a report on Monday, August 11th. Robert W. Baird dropped their target price on shares of Lineage from $64.00 to $51.00 and set an "outperform" rating for the company in a report on Wednesday, August 13th. BNP Paribas set a $42.00 target price on shares of Lineage in a report on Thursday, June 12th. Finally, KeyCorp reaffirmed a "sector weight" rating and issued a $84.00 target price on shares of Lineage in a report on Tuesday, July 1st. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $52.89.

Insider Activity

In other Lineage news, insider Sudarsan V. Thattai bought 3,563 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $42.45 per share, for a total transaction of $151,249.35. Following the transaction, the insider owned 7,983 shares of the company's stock, valued at $338,878.35. This represents a 80.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Kevin Patrick Marchetti bought 23,540 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $42.28 per share, for a total transaction of $995,271.20. Following the completion of the transaction, the chairman directly owned 62,323 shares in the company, valued at approximately $2,635,016.44. This represents a 60.70% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 39,448 shares of company stock valued at $1,645,752 in the last three months. Insiders own 71.90% of the company's stock.

Lineage 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.