HB Wealth Management LLC Purchases New Stake in Lineage, Inc. $LINE

Key Points

• HB Wealth Management LLC has acquired a new stake in Lineage, Inc., purchasing 16,666 shares valued at approximately $725,000.
• Multiple hedge funds and institutional investors have recently adjusted their positions in Lineage, notably with GAMMA Investing LLC increasing its stake by over 3,141% in the first quarter.
• Analysts have lowered price targets for Lineage, with UBS Group setting a new target of $45.00 and the stock currently having a consensus rating of "Hold."

HB Wealth Management LLC purchased a new stake in Lineage, Inc. (NASDAQ:LINE - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 16,666 shares of the company's stock, valued at approximately $725,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in LINE. GAMMA Investing LLC raised its position in shares of Lineage by 3,141.4% in the 1st quarter. GAMMA Investing LLC now owns 14,716 shares of the company's stock valued at $863,000 after buying an additional 14,262 shares in the last quarter. SG Americas Securities LLC acquired a new position in Lineage during the first quarter valued at approximately $1,703,000. Sapient Capital LLC acquired a new position in Lineage during the first quarter valued at approximately $1,055,000. State of Alaska Department of Revenue raised its position in Lineage by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 30,095 shares of the company's stock valued at $1,764,000 after purchasing an additional 371 shares in the last quarter. Finally, Global X Japan Co. Ltd. acquired a new position in shares of Lineage during the 1st quarter worth $74,000.

Analysts Set New Price Targets

A number of research firms have recently commented on LINE. UBS Group lowered their price target on Lineage from $49.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Wells Fargo & Company lowered their target price on Lineage from $48.00 to $43.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. Bank of America reissued an "underperform" rating and set a $42.00 target price (down previously from $47.00) on shares of Lineage in a research note on Monday, August 11th. The Goldman Sachs Group dropped their price objective on shares of Lineage from $57.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Finally, Barclays dropped their price objective on shares of Lineage from $52.00 to $51.00 and set an "overweight" rating for the company in a research note on Monday, September 15th. Six equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $50.11.

Lineage Price Performance

Lineage stock opened at $41.46 on Friday. The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of -14.86 and a beta of -0.23. Lineage, Inc. has a 52-week low of $36.66 and a 52-week high of $79.14. The stock's 50 day moving average price is $41.06 and its two-hundred day moving average price is $45.72. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.96.

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

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Tuesday, September 30th. Lineage's dividend payout ratio is -75.63%.

Insider Activity at Lineage

In other news, insider Sudarsan V. Thattai purchased 3,563 shares of the business's stock in a transaction on Friday, August 8th. The shares were acquired at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the acquisition, the insider owned 7,983 shares in the company, valued at approximately $338,878.35. The trade was a 80.61% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Kevin Patrick Marchetti purchased 23,540 shares of the business's stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $42.28 per share, for a total transaction of $995,271.20. Following the acquisition, the chairman owned 62,323 shares of the company's stock, valued at approximately $2,635,016.44. This represents a 60.70% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 39,448 shares of company stock worth $1,645,752. Corporate 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.

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