SG Americas Securities LLC Acquires New Position in Lineage, Inc. (NASDAQ:LINE)

SG Americas Securities LLC bought a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 29,041 shares of the company's stock, valued at approximately $1,703,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. FIL Ltd purchased a new stake in shares of Lineage during the fourth quarter worth $29,000. Quarry LP purchased a new stake in Lineage during the 4th quarter worth about $50,000. Parallel Advisors LLC acquired a new stake in Lineage in the 1st quarter valued at about $151,000. Stifel Financial Corp boosted its stake in shares of Lineage by 30.5% in the 4th quarter. Stifel Financial Corp now owns 3,509 shares of the company's stock valued at $206,000 after buying an additional 821 shares during the period. Finally, Franklin Resources Inc. purchased a new position in shares of Lineage in the 4th quarter valued at about $208,000.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LINE. Barclays began coverage on shares of Lineage in a research note on Wednesday, April 9th. They set an "overweight" rating and a $59.00 target price on the stock. Piper Sandler dropped their price objective on shares of Lineage from $75.00 to $60.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Wells Fargo & Company reduced their price objective on shares of Lineage from $64.00 to $48.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. UBS Group lowered their target price on shares of Lineage from $62.00 to $49.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, Royal Bank of Canada dropped their target price on Lineage from $81.00 to $74.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lineage has an average rating of "Hold" and an average target price of $65.55.

Insider Buying and Selling

In other news, insider Sudarsan V. Thattai bought 4,420 shares of Lineage stock in a transaction dated Monday, May 5th. The stock was bought at an average price of $45.23 per share, for a total transaction of $199,916.60. Following the purchase, the insider now owns 4,420 shares of the company's stock, valued at approximately $199,916.60. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Adam Matthew Schwartz Forste bought 10,949 shares of the stock in a transaction dated Thursday, May 8th. The stock was purchased at an average cost of $44.93 per share, for a total transaction of $491,938.57. Following the acquisition, the chairman now owns 35,266 shares of the company's stock, valued at approximately $1,584,501.38. This represents a 45.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 26,869 shares of company stock valued at $1,194,980 over the last quarter. 71.90% of the stock is currently owned by insiders.

Lineage Price Performance

Shares of NASDAQ LINE opened at $43.65 on Monday. The stock has a market cap of $9.98 billion and a P/E ratio of -13.56. Lineage, Inc. has a twelve month low of $41.88 and a twelve month high of $89.85. The stock has a 50 day moving average of $48.52 and a two-hundred day moving average of $55.10. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly 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 firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.34 billion. The business's revenue for the quarter was down 2.7% on a year-over-year basis. On average, research analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were paid a dividend of $0.5275 per share. The ex-dividend date was Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 4.83%. Lineage's dividend payout ratio (DPR) is -65.53%.

About Lineage

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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