Raymond James Financial Inc. Makes New $3.39 Million Investment in Lineage, Inc. $LINE

Raymond James Financial Inc. bought a new stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 57,731 shares of the company's stock, valued at approximately $3,385,000.

Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. increased its position in shares of Lineage by 1,396.7% during the first quarter. American Century Companies Inc. now owns 230,847 shares of the company's stock valued at $13,535,000 after acquiring an additional 215,423 shares in the last quarter. XTX Topco Ltd increased its position in shares of Lineage by 419.2% during the first quarter. XTX Topco Ltd now owns 30,733 shares of the company's stock valued at $1,802,000 after acquiring an additional 24,814 shares in the last quarter. Lunate Capital Ltd bought a new stake in shares of Lineage during the first quarter valued at approximately $35,178,000. GAMMA Investing LLC increased its position in shares of Lineage by 3,141.4% during the first quarter. GAMMA Investing LLC now owns 14,716 shares of the company's stock valued at $863,000 after acquiring an additional 14,262 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Lineage by 8.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 566,040 shares of the company's stock valued at $33,187,000 after acquiring an additional 43,242 shares in the last quarter.

Insider Activity at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti bought 12,345 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $40.44 per share, with a total value of $499,231.80. Following the purchase, the chairman directly owned 74,668 shares in the company, valued at approximately $3,019,573.92. This represents a 19.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sudarsan V. Thattai acquired 3,563 shares of the company's stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the transaction, the insider owned 7,983 shares in the company, valued at approximately $338,878.35. The trade was a 80.61% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 39,448 shares of company stock worth $1,645,752. 71.90% of the stock is owned by insiders.

Lineage Stock Performance

LINE traded up $0.73 on Thursday, reaching $42.69. The stock had a trading volume of 1,093,974 shares, compared to its average volume of 1,028,867. Lineage, Inc. has a 12-month low of $38.83 and a 12-month high of $84.86. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. The business's 50-day moving average price is $41.92 and its two-hundred day moving average price is $48.03. The company has a market cap of $9.77 billion, a P/E ratio of -15.31 and a beta of -0.22.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.33 billion. The company's revenue was up .9% compared to the same quarter last year. Sell-side analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Monday, June 30th. Lineage's dividend payout ratio is presently -75.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LINE shares. Morgan Stanley downgraded shares of Lineage from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $75.00 to $50.00 in a research report on Monday, June 23rd. Scotiabank cut their target price on shares of Lineage from $49.00 to $43.00 and set a "sector perform" rating for the company in a research report on Friday, September 5th. JPMorgan Chase & Co. cut shares of Lineage from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $55.00 to $50.00 in a research note on Monday, June 23rd. Wells Fargo & Company decreased their price target on shares of Lineage from $48.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. Finally, Piper Sandler decreased their price target on shares of Lineage from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $52.79.

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.