MAI Capital Management Has $3.86 Million Stock Position in Lineage, Inc. $LINE

Key Points

• MAI Capital Management significantly boosted its stake in Lineage, Inc., increasing its shares by 91,379.2% to 65,865 shares, valued at approximately $3.86 million.
• Insider activity is notable, with Chairman Kevin Patrick Marchetti purchasing 23,540 shares and increasing his position by 60.7%, alongside other insiders also expanding their holdings.
• Despite positive quarterly earnings with an EPS of $0.81, Wall Street analysts have recently reduced their price targets on Lineage, with a current consensus price target of $53.26.

MAI Capital Management increased its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 91,379.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,865 shares of the company's stock after purchasing an additional 65,793 shares during the period. MAI Capital Management's holdings in Lineage were worth $3,862,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LINE. Stifel Financial Corp boosted its stake in Lineage by 30.5% in 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 in the last quarter. Tudor Investment Corp ET AL purchased a new stake in Lineage during the 4th quarter valued at approximately $1,220,000. The Manufacturers Life Insurance Company grew its holdings in Lineage by 1.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 33,855 shares of the company's stock valued at $1,983,000 after buying an additional 532 shares in the last quarter. Northern Trust Corp grew its holdings in Lineage by 26.0% during the 4th quarter. Northern Trust Corp now owns 376,999 shares of the company's stock valued at $22,081,000 after buying an additional 77,755 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in Lineage by 78.5% during the 4th quarter. Jane Street Group LLC now owns 62,064 shares of the company's stock valued at $3,635,000 after buying an additional 27,303 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LINE shares. Piper Sandler lowered their target price on Lineage from $60.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. UBS Group reduced their target price on Lineage from $49.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. BNP Paribas set a $42.00 target price on Lineage in a research note on Thursday, June 12th. Bank of America reissued an "underperform" rating and issued a $42.00 price target (down previously from $47.00) on shares of Lineage in a report on Monday, August 11th. Finally, Evercore ISI lowered their price target on Lineage from $59.00 to $45.00 and set an "in-line" rating for the company in a report on Friday, August 8th. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, Lineage has a consensus rating of "Hold" and a consensus price target of $52.89.

Lineage Price Performance

LINE stock traded up $0.13 during midday trading on Friday, hitting $40.59. 889,235 shares of the stock were exchanged, compared to its average volume of 1,043,016. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.96. The stock's 50-day moving average price is $42.06 and its 200-day moving average price is $48.26. The stock has a market cap of $9.29 billion, a price-to-earnings ratio of -14.55 and a beta of -0.22. Lineage, Inc. has a fifty-two week low of $38.83 and a fifty-two 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The business's revenue for the quarter was up .9% on a year-over-year basis. Research analysts predict that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, June 30th were issued a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.11 annualized dividend and a dividend yield of 5.2%. Lineage's dividend payout ratio is -75.63%.

Insider Activity at Lineage

In other Lineage news, insider Sudarsan V. Thattai acquired 3,563 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $42.45 per share, with a total value of $151,249.35. Following the acquisition, the insider directly owned 7,983 shares of the company's stock, valued at $338,878.35. This represents a 80.61% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Kevin Patrick Marchetti acquired 23,540 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $42.28 per share, with a total value of $995,271.20. Following the completion of the acquisition, the chairman directly owned 62,323 shares in the company, valued at approximately $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. Insiders have bought 39,448 shares of company stock valued at $1,645,752 over the last ninety days. Corporate insiders own 71.90% of the company's stock.

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.