Bank of America Corp DE Sells 24,785 Shares of Lineage, Inc. (NASDAQ:LINE)

Bank of America Corp DE reduced its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 24.1% during the 4th quarter, according to its most recent filing with the SEC. 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 SEC.

Other institutional investors also recently bought and sold shares of the company. FIL Ltd purchased a new stake in shares of Lineage in the 4th quarter worth about $29,000. Quarry LP acquired a new position in shares of Lineage during the 4th quarter valued at about $50,000. Stifel Financial Corp increased its stake in shares of Lineage by 30.5% during the 4th quarter. Stifel Financial Corp now owns 3,509 shares of the company's stock valued at $206,000 after acquiring an additional 821 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Lineage during the 4th quarter worth approximately $208,000. Finally, Sterling Capital Management LLC increased its position in Lineage by 61.8% during the 4th quarter. Sterling Capital Management LLC now owns 3,703 shares of the company's stock worth $217,000 after purchasing an additional 1,415 shares in the last quarter.

Lineage Stock Performance

Shares of Lineage stock traded up $0.33 on Monday, reaching $43.02. The stock had a trading volume of 1,249,427 shares, compared to its average volume of 1,237,980. Lineage, Inc. has a fifty-two week low of $41.92 and a fifty-two week high of $89.85. The business's 50-day moving average price is $50.58 and its two-hundred day moving average price is $56.33. The stock has a market cap of $9.83 billion and a P/E ratio of -13.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were issued a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 4.90%. The ex-dividend date was Monday, March 31st. Lineage's payout ratio is -65.53%.

Analyst Upgrades and Downgrades

LINE has been the topic of several research analyst reports. UBS Group reduced their price objective on Lineage from $62.00 to $49.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley dropped their price target on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 1st. Citigroup started coverage on shares of Lineage in a research note on Friday, March 28th. They issued a "neutral" rating and a $64.00 price objective on the stock. Evercore ISI dropped their target price on shares of Lineage from $68.00 to $59.00 and set an "in-line" rating on the stock in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group reduced their price objective on Lineage from $74.00 to $63.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $67.58.

Insider Transactions at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 10,949 shares of the business's stock in a transaction on Thursday, May 8th. The shares were bought at an average cost of $44.93 per share, for a total transaction of $491,938.57. Following the transaction, the chairman now owns 35,266 shares in the company, valued at approximately $1,584,501.38. This trade represents a 45.03% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sudarsan V. Thattai bought 4,420 shares of the business's stock in a transaction on Monday, May 5th. The shares were acquired at an average price of $45.23 per share, for a total transaction of $199,916.60. Following the completion of the transaction, the insider now owns 4,420 shares in the company, valued at approximately $199,916.60. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 26,869 shares of company stock valued at $1,194,980. 1.40% of the stock is owned by insiders.

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.