Lineage, Inc. $LINE Stock Position Lowered by Ghisallo Capital Management LLC

Key Points

• Ghisallo Capital Management LLC has reduced its holdings in Lineage, Inc. by 16.7%, now owning approximately $58.64 million of the stock, making it their 3rd largest position.
• Lineage, Inc. reported a quarterly earnings per share (EPS) of $0.81, surpassing analysts' expectations, with a total revenue of $1.35 billion.
• The company announced a quarterly dividend of $0.5275, yielding 5.0% annually, with a payout ratio of -75.63%.

Ghisallo Capital Management LLC cut its holdings in Lineage, Inc. (NASDAQ:LINE - Free Report) by 16.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,000,100 shares of the company's stock after selling 200,000 shares during the period. Lineage comprises approximately 5.1% of Ghisallo Capital Management LLC's investment portfolio, making the stock its 3rd biggest holding. Ghisallo Capital Management LLC owned approximately 0.44% of Lineage worth $58,636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nissay Asset Management Corp Japan ADV increased its position in Lineage by 4.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 8,910 shares of the company's stock valued at $526,000 after purchasing an additional 340 shares during the period. State of Alaska Department of Revenue raised its position in shares of Lineage by 1.2% in the 1st quarter. State of Alaska Department of Revenue now owns 30,095 shares of the company's stock worth $1,764,000 after purchasing an additional 371 shares during the last quarter. PNC Financial Services Group Inc. raised 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 buying an additional 460 shares during the period. Costello Asset Management INC bought a new stake in Lineage in the 1st quarter worth approximately $29,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Lineage by 1.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 33,855 shares of the company's stock worth $1,983,000 after buying an additional 532 shares during the period.

Analyst Upgrades and Downgrades

LINE has been the subject of several recent research reports. The Goldman Sachs Group cut their price target on Lineage from $57.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. KeyCorp reaffirmed a "sector weight" rating and set a $84.00 price target on shares of Lineage in a research report on Tuesday, July 1st. Scotiabank cut their price objective on Lineage from $56.00 to $50.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Morgan Stanley lowered Lineage from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $75.00 to $50.00 in a report on Monday, June 23rd. Finally, Robert W. Baird decreased their price objective on Lineage from $64.00 to $51.00 and set an "outperform" rating on the stock in a report on Wednesday, August 13th. Seven 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 company. According to MarketBeat, Lineage has a consensus rating of "Hold" and an average price target of $53.26.

Lineage Trading Up 0.1%

Shares of Lineage stock traded up $0.05 on Wednesday, hitting $41.01. 657,768 shares of the company's stock traded hands, compared to its average volume of 1,222,500. The company has a fifty day moving average of $42.22 and a two-hundred day moving average of $48.52. Lineage, Inc. has a one year low of $38.83 and a one year high of $84.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.96 and a quick ratio of 0.83. The company has a market capitalization of $9.38 billion, a price-to-earnings ratio of -14.70 and a beta of -0.22.

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

Lineage Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 5.1%. Lineage's dividend payout ratio (DPR) is presently -75.63%.

Insider Transactions at Lineage

In related news, Chairman Kevin Patrick Marchetti acquired 23,540 shares of Lineage stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $42.28 per share, with a total value of $995,271.20. Following the completion of the purchase, the chairman owned 62,323 shares of the company's stock, valued at $2,635,016.44. This represents a 60.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sudarsan V. Thattai bought 3,563 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the purchase, 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 bought 39,448 shares of company stock worth $1,645,752 over the last ninety days. 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.