Millennium Management LLC Sells 89,860 Shares of Lineage, Inc. (NASDAQ:LINE)

Millennium Management LLC reduced its stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 48.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,156 shares of the company's stock after selling 89,860 shares during the quarter. Millennium Management LLC's holdings in Lineage were worth $5,690,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in LINE. FIL Ltd acquired a new stake in shares of Lineage during the fourth quarter worth approximately $29,000. Quarry LP acquired a new stake in Lineage in the fourth quarter valued at approximately $50,000. Stifel Financial Corp lifted its stake in Lineage by 30.5% in the fourth 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 in the fourth quarter valued at approximately $208,000. Finally, Sterling Capital Management LLC lifted its stake in Lineage by 61.8% in the fourth quarter. Sterling Capital Management LLC now owns 3,703 shares of the company's stock valued at $217,000 after acquiring an additional 1,415 shares during the last quarter.

Wall Street Analysts Forecast Growth

LINE has been the subject of a number of analyst reports. Robert W. Baird reduced their target price on shares of Lineage from $70.00 to $64.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Evercore ISI reduced their target price on shares of Lineage from $68.00 to $59.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. Scotiabank dropped their price target on shares of Lineage from $56.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. UBS Group dropped their price target on shares of Lineage from $62.00 to $49.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Finally, 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. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Lineage currently has a consensus rating of "Moderate Buy" and an average price target of $67.58.

Insider Buying and Selling

In other news, Chairman Kevin Patrick Marchetti acquired 11,500 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $43.75 per share, with a total value of $503,125.00. Following the acquisition, the chairman now owns 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sudarsan V. Thattai acquired 4,420 shares of the company's stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $45.23 per share, with a total value of $199,916.60. Following the completion of the acquisition, the insider now directly owns 4,420 shares in the company, valued at approximately $199,916.60. The trade was a ∞ 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 90 days. Corporate insiders own 1.40% of the company's stock.

Lineage Stock Performance

LINE traded down $1.37 during trading on Friday, reaching $42.56. 862,221 shares of the company's stock were exchanged, compared to its average volume of 1,237,929. Lineage, Inc. has a fifty-two week low of $42.05 and a fifty-two week high of $89.85. 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 business has a 50 day moving average price of $50.91 and a 200 day moving average price of $56.47. The company has a market capitalization of $9.73 billion and a P/E ratio of -13.22.

Lineage (NASDAQ:LINE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.34 billion. The company's quarterly revenue was down 2.7% compared to the same quarter last year. As a group, analysts predict that Lineage, Inc. will post 2.34 earnings per share for the current fiscal 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 paid a $0.5275 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 4.96%. Lineage's dividend payout ratio is presently -65.53%.

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.