Lineage, Inc. (NASDAQ:LINE) Position Trimmed by Bank of America Corp DE

Bank of America Corp DE cut its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 24.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,185 shares of the company's stock after selling 24,785 shares during the quarter. Bank of America Corp DE's holdings in Lineage were worth $4,579,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. FIL Ltd acquired a new position in Lineage in the 4th quarter worth $29,000. Quarry LP acquired a new position in shares of Lineage in the fourth quarter worth about $50,000. Stifel Financial Corp lifted its stake in shares of Lineage by 30.5% in the fourth quarter. Stifel Financial Corp now owns 3,509 shares of the company's stock worth $206,000 after acquiring an additional 821 shares in the last quarter. Franklin Resources Inc. purchased a new position in Lineage in the fourth quarter valued at about $208,000. Finally, Sterling Capital Management LLC grew its stake in Lineage by 61.8% during the 4th quarter. Sterling Capital Management LLC now owns 3,703 shares of the company's stock valued at $217,000 after purchasing an additional 1,415 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LINE shares. Royal Bank of Canada cut their target price on Lineage from $81.00 to $74.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Barclays started coverage on shares of Lineage in a report on Wednesday, April 9th. They issued an "overweight" rating and a $59.00 price target on the stock. Scotiabank decreased their price objective 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 cut their target price on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 1st. Finally, Piper Sandler decreased their price target on Lineage from $75.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lineage has a consensus rating of "Moderate Buy" and a consensus target price of $67.58.

Lineage Stock Performance

LINE stock traded down $1.37 during mid-day trading on Friday, reaching $42.56. The company had a trading volume of 862,221 shares, compared to its average volume of 1,237,929. Lineage, Inc. has a one year low of $42.05 and a one year high of $89.85. The stock has a market capitalization of $9.73 billion and a P/E ratio of -13.22. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock's 50-day simple moving average is $50.91 and its two-hundred day simple moving average is $56.58.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company's revenue for the quarter was down 2.7% on a year-over-year basis. Research analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were issued a dividend of $0.5275 per share. The ex-dividend date was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.96%. Lineage's dividend payout ratio (DPR) is presently -65.53%.

Insider Transactions at Lineage

In related news, Chairman Kevin Patrick Marchetti bought 11,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average price of $43.75 per share, for a total transaction of $503,125.00. Following the transaction, the chairman now directly owns 27,733 shares of the company's stock, valued at approximately $1,213,318.75. This represents a 70.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Adam Matthew Schwartz Forste purchased 10,949 shares of the company's stock in a transaction on Thursday, May 8th. The shares were bought at an average price of $44.93 per share, for a total transaction of $491,938.57. Following the completion of the transaction, the chairman now directly owns 35,266 shares in the company, valued at $1,584,501.38. This represents a 45.03% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 26,869 shares of company stock worth $1,194,980. Company insiders own 1.40% 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.