Resolute Capital Asset Partners LLC Buys New Stake in Lineage, Inc. $LINE

Key Points

• Resolute Capital Asset Partners LLC has acquired a new stake in Lineage, Inc., purchasing 60,000 shares valued at approximately $3.5 million, making Lineage 2.0% of their portfolio.
• Insider Sudarsan V. Thattai and Chairman Kevin Patrick Marchetti have both significantly increased their holdings in Lineage, acquiring shares valued at over $650,000 collectively in recent transactions.
• Analyst price targets for Lineage's stock have been revised downwards by several firms, with the average target currently at $53.53, reflecting a cautious outlook on the company's performance.

Resolute Capital Asset Partners LLC bought a new stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 60,000 shares of the company's stock, valued at approximately $3,518,000. Lineage makes up approximately 2.0% of Resolute Capital Asset Partners LLC's portfolio, making the stock its 19th largest position.

Other institutional investors also recently bought and sold shares of the company. Costello Asset Management INC purchased a new position in Lineage during the first quarter valued at $29,000. Salomon & Ludwin LLC purchased a new position in shares of Lineage in the 1st quarter worth $34,000. PNC Financial Services Group Inc. grew its stake in shares of Lineage by 170.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company's stock worth $43,000 after buying an additional 460 shares in the last quarter. Quarry LP purchased a new position in shares of Lineage in the 4th quarter worth $50,000. Finally, Global X Japan Co. Ltd. purchased a new position in shares of Lineage in the 1st quarter worth $74,000.

Insider Transactions at Lineage

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

Analysts Set New Price Targets

A number of equities analysts have commented on LINE shares. Royal Bank Of Canada dropped their price objective on shares of Lineage from $64.00 to $51.00 and set an "outperform" rating for the company in a research note on Monday, August 18th. Citigroup dropped their price objective on shares of Lineage from $64.00 to $49.00 and set a "neutral" rating for the company in a research note on Thursday, June 12th. Morgan Stanley cut shares of Lineage from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $75.00 to $50.00 in a research note on Monday, June 23rd. Bank of America reissued an "underperform" rating and issued a $42.00 price objective (down from $47.00) on shares of Lineage in a research note on Monday, August 11th. Finally, The Goldman Sachs Group dropped their price target on shares of Lineage from $57.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $53.53.

Lineage Price Performance

LINE stock opened at $40.28 on Friday. Lineage, Inc. has a 12 month low of $38.83 and a 12 month high of $86.60. 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 company has a 50-day moving average price of $42.74 and a 200 day moving average price of $49.39. The stock has a market cap of $9.21 billion and a PE ratio of -14.44.

Lineage (NASDAQ:LINE - Get Free Report) last announced 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 analyst estimates of $1.33 billion. The business's revenue was up .9% compared to the same quarter last year. Equities research analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were issued a dividend of $0.5275 per share. The ex-dividend date was Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a yield of 5.2%. Lineage's dividend payout ratio (DPR) is presently -75.63%.

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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