Jump Financial LLC Buys Shares of 16,206 Lineage, Inc. $LINE

Key Points

• Jump Financial LLC acquired 16,206 shares of Lineage, Inc. for approximately $950,000 in the first quarter, signaling increasing interest in the company's stock.
• Insider purchases at Lineage included Chairman Kevin Patrick Marchetti acquiring 23,540 shares valued at approximately $995,271, representing a significant increase in his stake.
• Analysts have given mixed ratings on Lineage, with price targets ranging from $42.00 to $84.00, reflecting differing views on its market performance and future prospects.

Jump Financial LLC bought a new stake in Lineage, Inc. (NASDAQ:LINE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,206 shares of the company's stock, valued at approximately $950,000.

A number of other large investors have also recently added to or reduced their stakes in LINE. Mariner LLC acquired a new stake in Lineage in the fourth quarter valued at $548,000. Stifel Financial Corp lifted its stake in Lineage by 30.5% in the fourth quarter. Stifel Financial Corp now owns 3,509 shares of the company's stock valued at $206,000 after acquiring an additional 821 shares during the last quarter. Quarry LP acquired a new stake in Lineage in the fourth quarter valued at $50,000. Tudor Investment Corp ET AL acquired a new stake in Lineage in the fourth quarter valued at $1,220,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Lineage by 1.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 33,855 shares of the company's stock valued at $1,983,000 after acquiring an additional 532 shares during the last quarter.

Lineage Stock Performance

NASDAQ:LINE traded down $0.12 during mid-day trading on Wednesday, reaching $40.85. 341,680 shares of the company's stock were exchanged, compared to its average volume of 1,025,027. Lineage, Inc. has a one year low of $38.83 and a one year high of $84.89. The firm has a market capitalization of $9.34 billion, a PE ratio of -14.63 and a beta of -0.22. The business's fifty day simple moving average is $42.28 and its two-hundred day simple moving average is $48.57. 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 released its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Lineage's quarterly revenue was up .9% on a year-over-year basis. Analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Announces Dividend

The firm also recently declared 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. This represents a $2.11 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Monday, June 30th. Lineage's dividend payout ratio (DPR) is currently -75.63%.

Insider Transactions at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti purchased 23,540 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $42.28 per share, with a total value of $995,271.20. Following the completion of the transaction, the chairman owned 62,323 shares in the company, valued at $2,635,016.44. The trade was a 60.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sudarsan V. Thattai purchased 3,563 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost 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 of the company's stock, valued at $338,878.35. This trade represents a 80.61% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 39,448 shares of company stock worth $1,645,752. 71.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LINE. Robert W. Baird cut their price target on shares of Lineage from $64.00 to $51.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. Bank of America reiterated an "underperform" rating and issued a $42.00 price target (down previously from $47.00) on shares of Lineage in a research note on Monday, August 11th. Evercore ISI cut their price target on shares of Lineage from $59.00 to $45.00 and set an "in-line" rating for the company in a research note on Friday, August 8th. Wells Fargo & Company cut their target price on shares of Lineage from $48.00 to $43.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. Finally, Scotiabank cut their target price on shares of Lineage from $56.00 to $50.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $53.26.

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.