Lineage, Inc. (NASDAQ:LINE) Shares Acquired by Oak Thistle LLC

Oak Thistle LLC increased its position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 201.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,112 shares of the company's stock after buying an additional 13,443 shares during the period. Oak Thistle LLC's holdings in Lineage were worth $1,179,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Lunate Capital Ltd acquired a new position in Lineage during the first quarter worth about $35,178,000. GAMMA Investing LLC increased its stake in shares of Lineage by 3,141.4% in the first quarter. GAMMA Investing LLC now owns 14,716 shares of the company's stock valued at $863,000 after buying an additional 14,262 shares during the period. M&T Bank Corp increased its stake in shares of Lineage by 174.5% in the first quarter. M&T Bank Corp now owns 13,690 shares of the company's stock valued at $803,000 after buying an additional 8,703 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in shares of Lineage by 16.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 175,000 shares of the company's stock valued at $10,250,000 after buying an additional 25,000 shares during the period. Finally, Mariner LLC acquired a new position in shares of Lineage in the fourth quarter valued at approximately $548,000.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Robert W. Baird lowered their price objective on Lineage from $70.00 to $64.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Barclays cut their target price on Lineage from $59.00 to $52.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Evercore ISI lowered their price target on Lineage from $68.00 to $59.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. Citigroup lowered their target price on Lineage from $64.00 to $49.00 and set a "neutral" rating on the stock in a research note on Thursday, June 12th. Finally, The Goldman Sachs Group reduced their target price on Lineage from $74.00 to $63.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $61.15.

Insider Transactions at Lineage

In related news, insider Sudarsan V. Thattai purchased 4,420 shares of Lineage stock in a transaction dated Monday, May 5th. The stock was purchased at an average cost of $45.23 per share, with a total value of $199,916.60. Following the transaction, the insider owned 4,420 shares in the company, valued at approximately $199,916.60. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Adam Matthew Schwartz Forste purchased 10,949 shares of Lineage stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average cost of $44.93 per share, with a total value of $491,938.57. Following the acquisition, the chairman directly owned 35,266 shares in the company, valued at $1,584,501.38. This trade represents a 45.03% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 26,869 shares of company stock worth $1,194,980. 71.90% of the stock is currently owned by company insiders.

Lineage Stock Performance

LINE stock traded up $0.34 during trading on Friday, reaching $43.60. The stock had a trading volume of 677,940 shares, compared to its average volume of 1,069,032. The stock's 50 day moving average is $44.00 and its two-hundred day moving average is $51.64. The firm has a market cap of $9.97 billion and a PE ratio of -13.54. Lineage, Inc. has a 52 week low of $40.49 and a 52 week high of $89.85. 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 (NASDAQ:LINE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The business 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 company's quarterly revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, June 30th were issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Monday, June 30th. Lineage's dividend payout ratio (DPR) is -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.