Lunate Capital Ltd Invests $35.18 Million in Lineage, Inc. (NASDAQ:LINE)

Lunate Capital Ltd acquired a new stake in Lineage, Inc. (NASDAQ:LINE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 600,000 shares of the company's stock, valued at approximately $35,178,000. Lineage makes up 20.5% of Lunate Capital Ltd's investment portfolio, making the stock its 3rd largest holding. Lunate Capital Ltd owned approximately 0.26% of Lineage at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Lineage by 7.3% in the 4th quarter. Rhumbline Advisers now owns 65,495 shares of the company's stock valued at $3,836,000 after buying an additional 4,462 shares during the period. New York State Common Retirement Fund lifted its stake in Lineage by 58.3% in the fourth quarter. New York State Common Retirement Fund now owns 32,600 shares of the company's stock worth $1,909,000 after acquiring an additional 12,000 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Lineage by 149.7% during the 4th quarter. Bank of New York Mellon Corp now owns 266,784 shares of the company's stock worth $15,626,000 after acquiring an additional 159,927 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Lineage by 197.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 522,798 shares of the company's stock valued at $30,620,000 after purchasing an additional 346,916 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Lineage by 36.9% in the 4th quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company's stock valued at $180,811,000 after purchasing an additional 831,533 shares in the last quarter.

Lineage Price Performance

Shares of LINE traded up $0.49 during trading hours on Wednesday, reaching $43.74. The company had a trading volume of 1,317,004 shares, compared to its average volume of 997,374. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.66. Lineage, Inc. has a 12-month low of $41.88 and a 12-month high of $89.85. The firm has a 50 day simple moving average of $46.18 and a 200-day simple moving average of $53.62. The company has a market capitalization of $10.00 billion and a price-to-earnings ratio of -13.58.

Lineage (NASDAQ:LINE - Get Free Report) last issued its earnings results 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. Lineage had a negative net margin of 11.88% and a negative return on equity of 7.24%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage's revenue was down 2.7% compared to the same quarter last year. Research analysts expect that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend is Monday, June 30th. Lineage's dividend payout ratio is currently -65.53%.

Wall Street Analysts Forecast Growth

LINE has been the topic of several research analyst reports. Wells Fargo & Company cut their price target on shares of Lineage from $64.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Robert W. Baird lowered their price objective on shares of Lineage from $70.00 to $64.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut shares of Lineage from a "neutral" rating to an "underweight" rating and reduced their target price for the company from $55.00 to $50.00 in a report on Monday, June 23rd. The Goldman Sachs Group dropped their price target on Lineage from $74.00 to $63.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Finally, UBS Group reduced their price objective on Lineage from $62.00 to $49.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Lineage presently has a consensus rating of "Hold" and an average price target of $61.70.

Insider Activity at Lineage

In other news, insider Sudarsan V. Thattai purchased 4,420 shares of the business's stock in a transaction dated Monday, May 5th. The stock was acquired at an average price of $45.23 per share, with a total value of $199,916.60. Following the purchase, the insider directly owned 4,420 shares of the company's stock, valued at $199,916.60. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Kevin Patrick Marchetti acquired 11,500 shares of the firm'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 completion of the transaction, the chairman directly owned 27,733 shares in the company, valued at approximately $1,213,318.75. This represents a 70.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 26,869 shares of company stock valued at $1,194,980 in the last ninety days. Corporate insiders own 71.90% of the company's stock.

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.