Dark Forest Capital Management LP Invests $6.57 Million 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 position in Lineage, Inc. (NASDAQ:LINE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 112,015 shares of the company's stock, valued at approximately $6,567,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Costello Asset Management INC purchased a new stake in shares of Lineage in the first quarter worth $29,000. Salomon & Ludwin LLC purchased a new stake in shares of Lineage in the first quarter worth $34,000. PNC Financial Services Group Inc. increased its stake in shares of Lineage by 170.4% in the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company's stock worth $43,000 after purchasing an additional 460 shares in the last quarter. Global X Japan Co. Ltd. purchased a new stake in shares of Lineage in the first quarter worth $74,000. Finally, Quarry LP increased its stake in shares of Lineage by 168.4% in the first 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

Several research firms recently weighed in on LINE. Barclays cut their target price on shares of Lineage from $59.00 to $52.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Evercore ISI cut their target price on shares of Lineage from $59.00 to $45.00 and set an "in-line" rating for the company in a research note on Friday, August 8th. JPMorgan Chase & Co. cut shares of Lineage from a "neutral" rating to an "underweight" rating and cut their target price for the company from $55.00 to $50.00 in a research note on Monday, June 23rd. BNP Paribas set a $42.00 target price on shares of Lineage in a research note on Thursday, June 12th. Finally, Piper Sandler cut their target price on shares of Lineage from $60.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $52.89.

Lineage Price Performance

LINE stock traded up $0.13 during trading on Friday, hitting $40.59. 889,235 shares of the company's stock traded hands, compared to its average volume of 1,043,016. Lineage, Inc. has a 52 week low of $38.83 and a 52 week high of $84.86. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.96. The business has a fifty day simple moving average of $42.06 and a 200 day simple moving average of $48.30. The stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of -14.55 and a beta of -0.22.

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 analyst estimates of $1.33 billion. The business's revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts expect that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, June 30th were given a dividend of $0.5275 per share. The ex-dividend date was Monday, June 30th. This represents a $2.11 annualized dividend and a yield of 5.2%. Lineage's dividend payout ratio (DPR) is -75.63%.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti acquired 23,540 shares of the stock in a transaction on Friday, August 8th. The stock was 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 of the company's stock, valued at $2,635,016.44. This trade represents a 60.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sudarsan V. Thattai acquired 3,563 shares of the stock in a transaction on Friday, August 8th. The shares were acquired at an average price of $42.45 per share, with a total value of $151,249.35. Following the transaction, the insider directly owned 7,983 shares of the company's stock, valued at $338,878.35. The trade was a 80.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 39,448 shares of company stock valued at $1,645,752 in the last quarter. 71.90% of the stock is owned by company insiders.

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.