Hsbc Holdings PLC Purchases 9,132 Shares of Lineage, Inc. $LINE

Key Points

• Hsbc Holdings PLC increased its stake in Lineage, Inc. by 20.8% during the first quarter, now holding 53,073 shares valued at approximately $3.1 million.
• Lineage, Inc. recently reported earnings of $0.81 per share, exceeding analysts' expectations of $0.75, with quarterly revenue reaching $1.35 billion.
• The company declared a quarterly dividend of $0.5275 per share, resulting in an annualized dividend of $2.11 and a dividend yield of 5.2%.

Hsbc Holdings PLC increased its stake in Lineage, Inc. (NASDAQ:LINE - Free Report) by 20.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,073 shares of the company's stock after acquiring an additional 9,132 shares during the quarter. Hsbc Holdings PLC's holdings in Lineage were worth $3,104,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Lineage by 4.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 8,910 shares of the company's stock worth $526,000 after purchasing an additional 340 shares in the last quarter. State of Alaska Department of Revenue increased its position in Lineage by 1.2% in the first quarter. State of Alaska Department of Revenue now owns 30,095 shares of the company's stock worth $1,764,000 after buying an additional 371 shares during the last quarter. PNC Financial Services Group Inc. increased 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 buying an additional 460 shares during the last quarter. Costello Asset Management INC bought a new stake in Lineage during the 1st quarter valued at $29,000. Finally, The Manufacturers Life Insurance Company raised 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 acquiring an additional 532 shares during the period.

Lineage Price Performance

Shares of NASDAQ:LINE traded up $0.36 during trading on Monday, reaching $41.91. The company had a trading volume of 1,096,285 shares, compared to its average volume of 1,286,021. The company has a fifty day moving average of $42.39 and a two-hundred day moving average of $48.62. The stock has a market capitalization of $9.59 billion, a P/E ratio of -15.02 and a beta of -0.22. Lineage, Inc. has a 12 month low of $38.83 and a 12 month high of $84.89. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72.

Lineage (NASDAQ:LINE - Get Free Report) last issued 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 firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. The company's revenue was up .9% compared to the same quarter last year. Equities research analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

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

Insider Activity

In related news, insider Sudarsan V. Thattai acquired 3,563 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were purchased at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the acquisition, the insider owned 7,983 shares in the company, valued at approximately $338,878.35. This represents a 80.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Kevin Patrick Marchetti bought 23,540 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price 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 $2,635,016.44. This trade represents a 60.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 39,448 shares of company stock worth $1,645,752. Company insiders own 71.90% of the company's stock.

Analyst Upgrades and Downgrades

LINE has been the subject of several analyst reports. Scotiabank cut their price target on shares of Lineage from $56.00 to $50.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Morgan Stanley downgraded shares of Lineage from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $75.00 to $50.00 in a report on Monday, June 23rd. JPMorgan Chase & Co. downgraded shares of Lineage from a "neutral" rating to an "underweight" rating and cut their price target for the company from $55.00 to $50.00 in a report on Monday, June 23rd. Truist Financial cut their price target 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. Finally, UBS Group cut their price target on shares of Lineage from $49.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $53.26.

About Lineage

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.