Renaissance Capital LLC Sells 44,775 Shares of Lineage, Inc. $LINE

Key Points

• Renaissance Capital cut its stake in Lineage by 49.9%, selling 44,775 shares and leaving it with 44,964 shares valued at about $1.57 million.
• Lineage reported a sharp earnings miss (EPS $0.03 vs. $0.73 expected), has negative net margin and ROE, and carries a MarketBeat consensus rating of "Reduce" with an average price target of $43.06.
• The company raised its quarterly dividend to $0.5325 (annualized $2.13, ~5.7% yield), while Chairman Kevin Marchetti bought 13,300 shares and insiders now own about 71.9% of the stock.

Renaissance Capital LLC lowered its stake in Lineage, Inc. (NASDAQ:LINE - Free Report) by 49.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,964 shares of the company's stock after selling 44,775 shares during the quarter. Lineage comprises 1.1% of Renaissance Capital LLC's portfolio, making the stock its 24th biggest holding. Renaissance Capital LLC's holdings in Lineage were worth $1,574,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in shares of Lineage by 82.2% in the third quarter. Jones Financial Companies Lllp now owns 665 shares of the company's stock worth $25,000 after buying an additional 300 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Lineage by 172.4% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company's stock worth $25,000 after purchasing an additional 362 shares in the last quarter. Caitlin John LLC purchased a new stake in shares of Lineage during the third quarter worth about $31,000. Exchange Traded Concepts LLC purchased a new stake in shares of Lineage during the third quarter worth about $45,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Lineage during the third quarter worth about $45,000.

Analyst Ratings Changes

Several research firms recently issued reports on LINE. Scotiabank increased their target price on Lineage from $39.00 to $42.00 and gave the stock a "hold" rating in a research report on Wednesday, March 11th. Royal Bank Of Canada increased their target price on Lineage from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Monday, March 2nd. Wells Fargo & Company increased their target price on Lineage from $32.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Monday, March 2nd. Zacks Research upgraded Lineage from a "strong sell" rating to a "hold" rating in a research report on Monday, March 9th. Finally, Truist Financial increased their target price on Lineage from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Lineage has a consensus rating of "Reduce" and an average price target of $43.06.

Lineage Stock Performance

NASDAQ LINE opened at $37.14 on Monday. The stock has a market capitalization of $8.43 billion, a PE ratio of -86.37 and a beta of 0.10. The business has a 50 day simple moving average of $36.60 and a two-hundred day simple moving average of $36.57. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.80 and a quick ratio of 0.71. Lineage, Inc. has a 1-year low of $31.33 and a 1-year high of $57.20.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.70). The firm had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.38 billion. Lineage had a negative net margin of 1.87% and a negative return on equity of 1.06%. The business's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS. On average, research analysts predict that Lineage, Inc. will post 2.42 EPS for the current fiscal year.

Lineage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 21st. Stockholders of record on Tuesday, March 31st were issued a $0.5325 dividend. This is a positive change from Lineage's previous quarterly dividend of $0.53. The ex-dividend date was Tuesday, March 31st. This represents a $2.13 dividend on an annualized basis and a dividend yield of 5.7%. Lineage's dividend payout ratio (DPR) is presently -495.35%.

Insider Activity at Lineage

In related news, Chairman Kevin Patrick Marchetti bought 13,300 shares of the company's stock in a transaction dated Thursday, March 12th. The stock was purchased at an average price of $37.50 per share, for a total transaction of $498,750.00. Following the acquisition, the chairman owned 113,690 shares in the company, valued at $4,263,375. This trade represents a 13.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 71.90% of the company's stock.

Lineage Company Profile

Lineage Logistics, Inc NASDAQ: LINE is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage's core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.

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