Lineage, Inc. (NASDAQ:LINE) Shares Sold by Burkehill Global Management LP

Key Points

• Burkehill Global Management LP reduced its stake in Lineage, Inc. by 11.1%, now holding 400,000 shares, which represents 1.8% of its portfolio.
• Multiple institutional investors have significantly increased their positions in Lineage, with D1 Capital Partners L.P. raising its stake by 257.5% during the last quarter.
• Recent analyst reports show a notable decrease in price targets for Lineage, with Citigroup lowering its target from $64.00 to $49.00, while the consensus rating remains at "Hold."

Burkehill Global Management LP lowered its stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 11.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 400,000 shares of the company's stock after selling 50,000 shares during the quarter. Lineage comprises about 1.8% of Burkehill Global Management LP's holdings, making the stock its 21st largest position. Burkehill Global Management LP owned 0.17% of Lineage worth $23,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. XTX Topco Ltd lifted its stake in Lineage by 419.2% in the first quarter. XTX Topco Ltd now owns 30,733 shares of the company's stock valued at $1,802,000 after buying an additional 24,814 shares during the last quarter. Lunate Capital Ltd bought a new stake in Lineage during the first quarter worth approximately $35,178,000. GAMMA Investing LLC boosted its position in shares of Lineage by 3,141.4% in the first quarter. GAMMA Investing LLC now owns 14,716 shares of the company's stock valued at $863,000 after acquiring an additional 14,262 shares during the period. M&T Bank Corp boosted its position in shares of Lineage by 174.5% in the first quarter. M&T Bank Corp now owns 13,690 shares of the company's stock valued at $803,000 after acquiring an additional 8,703 shares during the period. Finally, Galvin Gaustad & Stein LLC raised its stake in shares of Lineage by 20.9% in the first quarter. Galvin Gaustad & Stein LLC now owns 192,786 shares of the company's stock valued at $11,303,000 after purchasing an additional 33,360 shares in the last quarter.

Wall Street Analysts Forecast Growth

LINE has been the topic of several recent analyst reports. KeyCorp reaffirmed a "sector weight" rating and set a $84.00 price target on shares of Lineage in a research report on Tuesday, July 1st. Robert W. Baird lowered their price target on Lineage from $70.00 to $64.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Morgan Stanley cut Lineage from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $75.00 to $50.00 in a research note on Monday, June 23rd. BNP Paribas set a $42.00 price target on Lineage in a report on Thursday, June 12th. Finally, Barclays dropped their price target on Lineage from $59.00 to $52.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lineage currently has a consensus rating of "Hold" and an average target price of $59.20.

Insider Buying and Selling

In related news, Chairman Kevin Patrick Marchetti purchased 23,540 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price 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 of the company's stock, valued at approximately $2,635,016.44. This trade represents a 60.70% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sudarsan V. Thattai purchased 3,563 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average cost of $42.45 per share, with a total value of $151,249.35. Following the transaction, the insider directly owned 7,983 shares of the company's stock, valued at $338,878.35. The trade was a 80.61% increase in their position. The disclosure for this purchase can be found here. Insiders own 71.90% of the company's stock.

Lineage Stock Up 1.2%

NASDAQ:LINE traded up $0.50 during midday trading on Tuesday, hitting $40.59. 1,404,415 shares of the company were exchanged, compared to its average volume of 1,248,962. The company has a fifty day simple moving average of $43.49 and a 200 day simple moving average of $50.40. Lineage, Inc. has a fifty-two week low of $40.06 and a fifty-two week high of $88.00. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $9.28 billion and a PE ratio of -14.55.

Lineage (NASDAQ:LINE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The company's revenue was up .9% on a year-over-year basis. As a group, equities analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

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

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.