31,475 Shares in Lineage, Inc. $LINE Purchased by Ieq Capital LLC

Key Points

• Ieq Capital LLC has acquired a new stake in Lineage, Inc., purchasing 31,475 shares valued at approximately $1,862,000 in the 1st quarter of 2023.
• Insider purchases have increased significantly, with company insiders acquiring a total of 39,448 shares worth $1,645,752 over the past 90 days, resulting in insiders owning 71.90% of the stock.
• Analysts have downgraded Lineage's price target, with a consensus rating of "Hold" and an average price target of $53.26 following various adjustments from firms like Scotiabank and UBS.

Ieq Capital LLC bought a new position in Lineage, Inc. (NASDAQ:LINE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 31,475 shares of the company's stock, valued at approximately $1,862,000.

Several other large investors have also bought and sold shares of LINE. Price T Rowe Associates Inc. MD raised its holdings in Lineage by 75.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company's stock worth $255,903,000 after buying an additional 1,880,587 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Lineage by 92.1% during the fourth quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company's stock valued at $189,380,000 after purchasing an additional 1,550,478 shares during the last quarter. Darlington Partners Capital Management LP purchased a new position in shares of Lineage during the fourth quarter valued at approximately $90,491,000. Nuveen LLC purchased a new position in shares of Lineage during the first quarter valued at approximately $37,468,000. Finally, Lunate Capital Ltd purchased a new position in shares of Lineage during the first quarter valued at approximately $35,178,000.

Insiders Place Their Bets

In related news, insider Sudarsan V. Thattai bought 3,563 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the transaction, the insider owned 7,983 shares in the company, valued at $338,878.35. The trade was a 80.61% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Kevin Patrick Marchetti purchased 23,540 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $42.28 per share, for a total transaction of $995,271.20. Following 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 disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 39,448 shares of company stock valued at $1,645,752. 71.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LINE has been the subject of several research reports. BNP Paribas Exane cut shares of Lineage from a "neutral" rating to an "underperform" rating and set a $42.00 price objective for the company. in a report on Thursday, June 12th. Truist Financial decreased their price objective on shares of Lineage from $60.00 to $53.00 and set a "buy" rating for the company in a report on Friday, August 22nd. Barclays decreased their price objective on shares of Lineage from $59.00 to $52.00 and set an "overweight" rating for the company in a report on Monday, July 21st. KeyCorp reissued a "sector weight" rating and set a $84.00 price objective on shares of Lineage in a report on Tuesday, July 1st. Finally, BNP Paribas set a $42.00 price objective on shares of Lineage in a report on Thursday, June 12th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $52.89.

Lineage Stock Performance

NASDAQ LINE traded up $0.06 during trading hours on Friday, hitting $40.52. 667,701 shares of the company's stock traded hands, compared to its average volume of 1,025,203. The business's fifty day moving average price is $42.13 and its two-hundred day moving average price is $48.41. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $9.27 billion, a P/E ratio of -14.55 and a beta of -0.22. Lineage, Inc. has a 52 week low of $38.83 and a 52 week high of $84.86.

Lineage (NASDAQ:LINE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. The business had revenue of $1.35 billion during 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%. Lineage's revenue was up .9% on a year-over-year basis. Equities research analysts predict that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors 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 dividend yield of 5.2%. Lineage's dividend payout ratio is currently -75.63%.

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.