Lunate Capital Ltd Purchases New Shares in Lineage, Inc. (NASDAQ:LINE)

Lunate Capital Ltd purchased a new stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 600,000 shares of the company's stock, valued at approximately $35,178,000. Lineage makes up approximately 20.5% of Lunate Capital Ltd's investment portfolio, making the stock its 3rd biggest position. Lunate Capital Ltd owned about 0.26% of Lineage as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in LINE. FIL Ltd bought a new stake in shares of Lineage during the fourth quarter valued at approximately $29,000. Quarry LP bought a new stake in shares of Lineage during the fourth quarter valued at approximately $50,000. Global X Japan Co. Ltd. bought a new stake in shares of Lineage during the first quarter valued at approximately $74,000. Parallel Advisors LLC bought a new stake in shares of Lineage during the first quarter valued at approximately $151,000. Finally, Stifel Financial Corp raised its stake in Lineage by 30.5% during the fourth quarter. Stifel Financial Corp now owns 3,509 shares of the company's stock valued at $206,000 after buying an additional 821 shares during the last quarter.

Insider Activity at Lineage

In related news, Chairman Kevin Patrick Marchetti purchased 11,500 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $43.75 per share, with a total value of $503,125.00. Following the completion of the acquisition, the chairman now owns 27,733 shares of the company's stock, valued at approximately $1,213,318.75. This trade represents a 70.84% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sudarsan V. Thattai purchased 4,420 shares of the business's stock in a transaction on Monday, May 5th. The shares were bought at an average cost of $45.23 per share, with a total value of $199,916.60. Following the acquisition, the insider now directly owns 4,420 shares of the company's stock, valued at $199,916.60. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 26,869 shares of company stock worth $1,194,980. 71.90% of the stock is owned by insiders.

Lineage Stock Down 1.7%

Lineage stock opened at $44.09 on Friday. The stock has a market cap of $10.08 billion and a PE ratio of -13.69. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.86 and a current ratio of 0.99. Lineage, Inc. has a one year low of $41.88 and a one year high of $89.85. The stock has a fifty day moving average of $46.66 and a 200 day moving average of $53.88.

Lineage (NASDAQ:LINE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.34 billion. Lineage had a negative return on equity of 7.24% and a negative net margin of 11.88%. The business's revenue for the quarter was down 2.7% on a year-over-year basis. As a group, sell-side analysts predict that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date is Monday, June 30th. Lineage's dividend payout ratio (DPR) is presently -65.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley cut Lineage from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $75.00 to $50.00 in a research note on Monday, June 23rd. Royal Bank Of Canada lowered their price objective on Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Piper Sandler lowered their price objective on Lineage from $75.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Wells Fargo & Company lowered their price objective on Lineage from $64.00 to $48.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. cut Lineage from a "neutral" rating to an "underweight" rating and lowered their price objective for the company from $55.00 to $50.00 in a research note on Monday, June 23rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lineage presently has an average rating of "Hold" and an average target price of $62.10.

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.

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