IQ EQ FUND MANAGEMENT IRELAND Ltd Increases Position in Lineage, Inc. (NASDAQ:LINE)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Lineage, Inc. by 25.4%, owning 50,204 shares valued at approximately $2.94 million after purchasing an additional 10,165 shares.
• Key investors like D1 Capital Partners and Janus Henderson Group made significant increases in their stakes, with D1 Capital Partners boosting its stake by 257.5% and Janus Henderson by 92.1% during the 4th quarter.
• Lineage, Inc. recently declared a quarterly dividend of $0.5275 per share, representing an annual yield of 5.0%, despite a negative dividend payout ratio.

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 25.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,204 shares of the company's stock after acquiring an additional 10,165 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Lineage were worth $2,943,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FIL Ltd bought a new stake in Lineage during the fourth quarter valued at approximately $29,000. Salomon & Ludwin LLC bought a new stake in shares of Lineage during the 1st quarter worth $34,000. PNC Financial Services Group Inc. grew its position in 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 acquiring an additional 460 shares in the last quarter. Quarry LP bought a new position in Lineage in the fourth quarter valued at $50,000. Finally, Global X Japan Co. Ltd. purchased a new stake in Lineage during the first quarter valued at about $74,000.

Insider Activity at Lineage

In other news, Chairman Adam Matthew Schwartz Forste bought 10,949 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average price of $44.93 per share, with a total value of $491,938.57. Following the purchase, the chairman owned 35,266 shares in the company, valued at approximately $1,584,501.38. The trade was a 45.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 71.90% of the stock is currently owned by corporate insiders.

Lineage Price Performance

LINE traded up $0.25 during midday trading on Wednesday, hitting $44.69. 2,433,963 shares of the company traded hands, compared to its average volume of 999,343. Lineage, Inc. has a 52-week low of $40.49 and a 52-week high of $88.78. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.66. The business has a 50 day simple moving average of $43.63 and a two-hundred day simple moving average of $51.02. The company has a market capitalization of $10.22 billion and a price-to-earnings ratio of -13.88.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. Lineage had a negative net margin of 11.88% and a negative return on equity of 7.24%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. The company's quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, June 30th were given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Monday, June 30th. Lineage's dividend payout ratio (DPR) is currently -65.53%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LINE. BNP Paribas Exane lowered Lineage from a "neutral" rating to an "underperform" rating and set a $42.00 price objective on the stock. in a research report on Thursday, June 12th. Scotiabank decreased their price target on shares of Lineage from $56.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. Evercore ISI cut their price objective on shares of Lineage from $68.00 to $59.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut shares of Lineage from a "neutral" rating to an "underweight" rating and decreased their target price for the stock from $55.00 to $50.00 in a research report on Monday, June 23rd. Finally, Barclays lowered their price target on shares of Lineage from $59.00 to $52.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target 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.