XTX Topco Ltd Boosts Position in Lineage, Inc. (NASDAQ:LINE)

Key Points

• XTX Topco Ltd increased its ownership in Lineage, Inc. by 419.2% in the first quarter, now holding 30,733 shares valued at approximately $1.8 million.
• Analyst ratings for Lineage have varied, with three analysts rating it as a sell and one giving it a strong buy; the consensus rating is a "Hold" with an average target price of $61.15.
• Lineage announced a quarterly dividend of $0.5275 per share, yielding approximately 4.85%, despite a negative payout ratio of -65.53%.

XTX Topco Ltd grew its stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 419.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,733 shares of the company's stock after purchasing an additional 24,814 shares during the quarter. XTX Topco Ltd's holdings in Lineage were worth $1,802,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. D1 Capital Partners L.P. raised its position in Lineage by 257.5% in the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock valued at $219,848,000 after purchasing an additional 2,703,598 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Lineage by 92.1% during the 4th quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company's stock worth $189,380,000 after purchasing an additional 1,550,478 shares during the period. Capital World Investors grew its stake in shares of Lineage by 22.5% during the 4th quarter. Capital World Investors now owns 3,064,842 shares of the company's stock worth $179,508,000 after purchasing an additional 563,078 shares during the period. Capital Research Global Investors grew its stake in shares of Lineage by 100.0% during the 4th quarter. Capital Research Global Investors now owns 2,000,433 shares of the company's stock worth $117,165,000 after purchasing an additional 1,000,433 shares during the period. Finally, Darlington Partners Capital Management LP acquired a new position in shares of Lineage during the 4th quarter worth $90,491,000.

Insider Transactions at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 10,949 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average price of $44.93 per share, for a total transaction of $491,938.57. Following the completion of the acquisition, the chairman owned 35,266 shares of the company's stock, valued at approximately $1,584,501.38. This represents a 45.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kevin Patrick Marchetti purchased 11,500 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average price of $43.75 per share, for a total transaction of $503,125.00. Following the acquisition, the chairman directly owned 27,733 shares of the company's stock, valued at $1,213,318.75. This trade represents a 70.84% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 26,869 shares of company stock worth $1,194,980 in the last three months. Company insiders own 71.90% of the company's stock.

Lineage Trading Down 1.9%

Shares of LINE stock traded down $0.80 during trading hours on Friday, hitting $42.35. 1,014,078 shares of the company were exchanged, compared to its average volume of 960,313. The firm has a market cap of $9.68 billion and a PE ratio of -13.15. Lineage, Inc. has a 1 year low of $40.49 and a 1 year high of $88.78. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average of $43.68 and a 200 day moving average of $51.23.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 11.88% and a negative return on equity of 7.24%. Lineage's revenue was down 2.7% on a year-over-year basis. Analysts expect 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 issued a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Monday, June 30th. Lineage's dividend payout ratio is presently -65.53%.

Analysts Set New Price Targets

LINE has been the topic of a number of recent analyst reports. BNP Paribas set a $42.00 price target on shares of Lineage in a research note on Thursday, June 12th. Morgan Stanley cut shares of Lineage from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $75.00 to $50.00 in a research note on Monday, June 23rd. KeyCorp reissued a "sector weight" rating and issued a $84.00 price objective on shares of Lineage in a research note on Tuesday, July 1st. The Goldman Sachs Group lowered their price objective on shares of Lineage from $74.00 to $63.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Finally, Bank of America cut shares of Lineage from a "buy" rating to a "neutral" rating and set a $49.00 price objective on the stock. in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $61.15.

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.