Deutsche Bank AG Has $1.63 Million Position in Lineage, Inc. $LINE

Key Points

• Deutsche Bank AG reduced its stake in Lineage, Inc. by 23.3%, selling 8,443 shares and now holding 27,854 shares valued at $1,633,000.
• Insider Sudarsan V. Thattai and Chairman Kevin Patrick Marchetti purchased shares on August 8th, increasing their ownership by 80.61% and 60.70%, respectively.
• Lineage, Inc. reported quarterly earnings of $0.81 per share, exceeding analysts' expectations of $0.75 and showing a 0.9% year-over-year revenue increase to $1.35 billion.

Deutsche Bank AG trimmed its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 23.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,854 shares of the company's stock after selling 8,443 shares during the quarter. Deutsche Bank AG's holdings in Lineage were worth $1,633,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LINE. XTX Topco Ltd lifted its stake in Lineage by 419.2% during the first quarter. XTX Topco Ltd now owns 30,733 shares of the company's stock worth $1,802,000 after purchasing an additional 24,814 shares in the last quarter. Lunate Capital Ltd purchased a new position in shares of Lineage during the first quarter worth approximately $35,178,000. GAMMA Investing LLC grew its holdings in shares of Lineage by 3,141.4% during the first quarter. GAMMA Investing LLC now owns 14,716 shares of the company's stock worth $863,000 after buying an additional 14,262 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lineage by 8.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 566,040 shares of the company's stock worth $33,187,000 after purchasing an additional 43,242 shares during the period. Finally, M&T Bank Corp boosted its holdings in Lineage by 174.5% in the 1st quarter. M&T Bank Corp now owns 13,690 shares of the company's stock valued at $803,000 after purchasing an additional 8,703 shares in the last quarter.

Lineage Stock Up 3.7%

Shares of Lineage stock traded up $1.49 on Monday, hitting $41.77. 1,148,427 shares of the company's stock traded hands, compared to its average volume of 1,201,619. The stock has a market cap of $9.56 billion and a P/E ratio of -14.97. 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, Inc. has a 52-week low of $38.83 and a 52-week high of $86.60. The firm's 50-day moving average is $42.70 and its 200 day moving average is $49.15.

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

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, June 30th were paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Monday, June 30th. Lineage's payout ratio is -75.63%.

Insiders Place Their Bets

In related news, insider Sudarsan V. Thattai bought 3,563 shares of the firm's stock in a transaction on Friday, August 8th. The stock was bought at an average price of $42.45 per share, with a total value of $151,249.35. Following the purchase, the insider directly owned 7,983 shares of the company's stock, valued at approximately $338,878.35. This represents a 80.61% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Kevin Patrick Marchetti purchased 12,345 shares of the stock in a transaction dated Tuesday, August 19th. The shares were bought at an average price of $40.44 per share, for a total transaction of $499,231.80. Following the completion of the acquisition, the chairman owned 74,668 shares in the company, valued at $3,019,573.92. This represents a 19.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 39,448 shares of company stock valued at $1,645,752 in the last 90 days. Corporate insiders own 71.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LINE shares. Wells Fargo & Company dropped their target price on shares of Lineage from $64.00 to $48.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. KeyCorp reissued a "sector weight" rating and issued a $84.00 price objective on shares of Lineage in a research report on Tuesday, July 1st. Bank of America restated an "underperform" rating and set a $42.00 target price (down previously from $47.00) on shares of Lineage in a research report on Monday, August 11th. Piper Sandler cut their price target on Lineage from $60.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, Evercore ISI reduced their price target on Lineage from $59.00 to $45.00 and set an "in-line" rating on the stock in a research note on Friday, August 8th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $53.53.

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.