American Century Companies Inc. Has $13.54 Million Stock Position in Lineage, Inc. $LINE

Key Points

• American Century Companies Inc. significantly increased its holdings in Lineage, Inc. by 1,396.7%, owning approximately 230,847 shares worth $13.5 million as of the latest quarter.
• Lineage, Inc. reported a quarterly earnings per share (EPS) of $0.81, surpassing analysts' expectations of $0.75, and its revenue grew 0.9% year-over-year to $1.35 billion.
• Insider purchases included a notable transaction by Chairman Kevin Patrick Marchetti, who bought 23,540 shares, increasing his position by 60.7%.

American Century Companies Inc. grew its stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 1,396.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 230,847 shares of the company's stock after acquiring an additional 215,423 shares during the quarter. American Century Companies Inc. owned about 0.10% of Lineage worth $13,535,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mariner LLC purchased a new stake in shares of Lineage during the 4th quarter worth about $548,000. Stifel Financial Corp grew its holdings in shares of Lineage by 30.5% during the 4th quarter. Stifel Financial Corp now owns 3,509 shares of the company's stock worth $206,000 after purchasing an additional 821 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Lineage by 17.4% during the 4th quarter. Hsbc Holdings PLC now owns 43,941 shares of the company's stock worth $2,574,000 after purchasing an additional 6,500 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in shares of Lineage by 16.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 175,000 shares of the company's stock worth $10,250,000 after purchasing an additional 25,000 shares during the period. Finally, Quarry LP purchased a new stake in shares of Lineage during the 4th quarter worth about $50,000.

Analyst Upgrades and Downgrades

LINE has been the subject of a number of research reports. The Goldman Sachs Group decreased their target price on Lineage from $57.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Bank of America reiterated an "underperform" rating and set a $42.00 target price (down previously from $47.00) on shares of Lineage in a report on Monday, August 11th. KeyCorp restated a "sector weight" rating and issued a $84.00 price target on shares of Lineage in a report on Tuesday, July 1st. BNP Paribas Exane downgraded shares of Lineage from a "neutral" rating to an "underperform" rating and set a $42.00 price objective for the company. in a research report on Thursday, June 12th. Finally, Citigroup lowered their price objective on shares of Lineage from $64.00 to $49.00 and set a "neutral" rating for the company in a research report on Thursday, June 12th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $53.26.

Insider Buying and Selling at Lineage

In related news, Chairman Kevin Patrick Marchetti bought 23,540 shares of the company's stock in a transaction on 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 transaction, the chairman directly owned 62,323 shares of the company's stock, valued at approximately $2,635,016.44. This represents a 60.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sudarsan V. Thattai bought 3,563 shares of the company's stock in a transaction on Friday, August 8th. The stock was bought 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 directly owned 7,983 shares of the company's stock, valued at $338,878.35. This trade represents a 80.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 39,448 shares of company stock worth $1,645,752 over the last 90 days. 71.90% of the stock is currently owned by company insiders.

Lineage Stock Up 0.9%

Shares of Lineage stock traded up $0.36 on Friday, hitting $41.91. 1,096,285 shares of the company's stock traded hands, compared to its average volume of 1,281,911. The stock has a market cap of $9.59 billion and a P/E ratio of -15.02. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72. The firm's 50-day moving average is $42.46 and its 200 day moving average is $48.83. Lineage, Inc. has a 52-week low of $38.83 and a 52-week high of $84.89.

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, topping 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 firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.33 billion. The firm's revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were paid a dividend of $0.5275 per share. The ex-dividend date was Monday, June 30th. This represents a $2.11 annualized dividend and a yield of 5.0%. Lineage's dividend payout ratio (DPR) is -75.63%.

Lineage Company 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.