Lineage, Inc. (NASDAQ:LINE) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in Lineage, Inc. (NASDAQ:LINE - Free Report) by 3,141.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,716 shares of the company's stock after purchasing an additional 14,262 shares during the quarter. GAMMA Investing LLC's holdings in Lineage were worth $863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LINE. DigitalBridge Group Inc. acquired a new position in shares of Lineage during the 4th quarter worth $5,195,000. Woodline Partners LP increased its holdings in Lineage by 0.3% during the 4th quarter. Woodline Partners LP now owns 310,899 shares of the company's stock valued at $18,209,000 after acquiring an additional 899 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its position in Lineage by 4.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 8,910 shares of the company's stock worth $526,000 after acquiring an additional 340 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Lineage in the fourth quarter valued at about $378,000. Finally, Needham Investment Management LLC lifted its holdings in shares of Lineage by 84.0% in the fourth quarter. Needham Investment Management LLC now owns 11,500 shares of the company's stock valued at $674,000 after purchasing an additional 5,250 shares in the last quarter.

Insider Transactions at Lineage

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

Analysts Set New Price Targets

Several research analysts recently issued reports on LINE shares. UBS Group cut their price objective on Lineage from $62.00 to $49.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Evercore ISI cut their price target on Lineage from $68.00 to $59.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. BNP Paribas set a $42.00 price objective on Lineage in a research report on Thursday, June 12th. Barclays began coverage on Lineage in a research report on Wednesday, April 9th. They set an "overweight" rating and a $59.00 price objective for the company. Finally, Wells Fargo & Company reduced their target price on shares of Lineage from $64.00 to $48.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Lineage presently has a consensus rating of "Hold" and a consensus target price of $64.60.

Lineage Trading Up 1.0%

LINE stock traded up $0.43 during trading on Wednesday, reaching $44.55. 488,161 shares of the stock traded hands, compared to its average volume of 992,735. The firm has a market capitalization of $10.18 billion and a PE ratio of -13.84. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.86. The business's 50 day moving average price is $48.20 and its 200-day moving average price is $54.88. Lineage, Inc. has a 52-week low of $41.88 and a 52-week high of $89.85.

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, topping analysts' consensus estimates of $0.82 by $0.04. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative net margin of 11.88% and a negative return on equity of 7.24%. The company's revenue for the quarter was down 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current year.

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.