Lineage, Inc. (NASDAQ:LINE) Shares Purchased by Galvin Gaustad & Stein LLC

Key Points

• Galvin Gaustad & Stein LLC increased its stake in Lineage, Inc. by 20.9%, acquiring an additional 33,360 shares during the first quarter, bringing their total ownership to 192,786 shares worth approximately $11.3 million.
• Multiple institutional investors, including Vanguard Group and D1 Capital Partners, have also made significant investments in Lineage, indicating growing institutional interest in the company.
• Analysts have recently revised their price targets on Lineage, with a consensus target now set at $61.15, notwithstanding mixed ratings ranging from "strong buy" to "sell".

Galvin Gaustad & Stein LLC increased its holdings in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 20.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 192,786 shares of the company's stock after purchasing an additional 33,360 shares during the quarter. Galvin Gaustad & Stein LLC owned 0.08% of Lineage worth $11,303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Lineage by 69.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,602 shares of the company's stock valued at $2,263,000 after buying an additional 15,800 shares during the period. Machina Capital S.A.S. purchased a new position in shares of Lineage in the 1st quarter valued at about $513,000. Oak Thistle LLC raised its position in shares of Lineage by 201.6% during the 1st quarter. Oak Thistle LLC now owns 20,112 shares of the company's stock worth $1,179,000 after acquiring an additional 13,443 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Lineage during the 1st quarter worth about $269,000. Finally, CWM LLC raised its position in shares of Lineage by 3,508.2% during the 1st quarter. CWM LLC now owns 2,634 shares of the company's stock worth $154,000 after acquiring an additional 2,561 shares in the last quarter.

Insider Activity at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti purchased 11,500 shares of Lineage stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average price of $43.75 per share, with a total value of $503,125.00. Following the completion of the acquisition, the chairman owned 27,733 shares of the company's stock, valued at approximately $1,213,318.75. This trade represents a 70.84% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Adam Matthew Schwartz Forste purchased 10,949 shares of Lineage stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average cost of $44.93 per share, with a total value of $491,938.57. Following the acquisition, the chairman directly owned 35,266 shares of the company's stock, valued at $1,584,501.38. The trade was a 45.03% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 26,869 shares of company stock valued at $1,194,980. Insiders own 71.90% of the company's stock.

Lineage Trading Up 0.4%

Shares of NASDAQ:LINE traded up $0.17 during trading on Thursday, reaching $43.72. 388,584 shares of the stock were exchanged, compared to its average volume of 991,483. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.86 and a current ratio of 0.99. Lineage, Inc. has a 12-month low of $40.49 and a 12-month high of $89.85. The firm has a market cap of $9.99 billion and a price-to-earnings ratio of -13.58. The firm's 50-day moving average price is $43.79 and its 200 day moving average price is $51.41.

Lineage (NASDAQ:LINE - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. Lineage had a negative return on equity of 7.24% and a negative net margin of 11.88%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. The company's revenue for the quarter was down 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend was Monday, June 30th. Lineage's dividend payout ratio is currently -65.53%.

Analysts Set New Price Targets

Several research analysts have commented on the company. The Goldman Sachs Group cut their price target on Lineage from $74.00 to $63.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Scotiabank dropped their target price on Lineage from $56.00 to $50.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Wells Fargo & Company decreased their price target on Lineage from $64.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Piper Sandler decreased their price target on Lineage from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, Citigroup decreased their target price on Lineage from $64.00 to $49.00 and set a "neutral" rating on the stock in a research report on Thursday, June 12th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $61.15.

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.