Squarepoint Ops LLC Takes $1.81 Million Position in Lineage, Inc. $LINE

Key Points

• Squarepoint Ops LLC acquired 41,921 Lineage shares worth approximately $1.81 million during the second quarter. Several other institutional investors also increased or initiated positions.
• Analyst sentiment remains mixed, with five Buy, nine Hold and three Sell ratings; the average price target is $44.20 compared with the stock’s reported price of $38.49.
• Lineage exceeded quarterly earnings expectations, reporting $0.76 in EPS and $1.36 billion in revenue, while declaring a quarterly dividend of $0.5325 per share, implying a 5.5% annualized yield.

Squarepoint Ops LLC acquired a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 41,921 shares of the company's stock, valued at approximately $1,813,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LINE. Allworth Financial LP increased its holdings in Lineage by 172.3% in the second quarter. Allworth Financial LP now owns 7,290 shares of the company's stock valued at $315,000 after buying an additional 4,613 shares during the last quarter. Waverly Advisors LLC purchased a new stake in Lineage during the 2nd quarter worth about $280,000. Paragon Capital Management Ltd purchased a new stake in Lineage during the 2nd quarter worth about $252,000. Amundi boosted its position in shares of Lineage by 7.3% during the 2nd quarter. Amundi now owns 41,081 shares of the company's stock worth $1,777,000 after acquiring an additional 2,798 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Lineage by 6.1% during the 2nd quarter. HighTower Advisors LLC now owns 2,286,166 shares of the company's stock worth $98,877,000 after acquiring an additional 130,895 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Truist Financial raised their target price on Lineage from $44.00 to $46.00 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Morgan Stanley upped their price target on Lineage from $39.00 to $47.00 and gave the company an "equal weight" rating in a report on Tuesday, June 2nd. Wall Street Zen upgraded shares of Lineage from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Piper Sandler cut their price objective on shares of Lineage from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Thursday, August 27th. Finally, Royal Bank Of Canada boosted their price objective on shares of Lineage from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Monday, August 17th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $44.20.

Lineage Stock Performance

Shares of LINE stock opened at $38.49 on Wednesday. The stock's 50-day moving average is $41.26 and its two-hundred day moving average is $39.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78. Lineage, Inc. has a 1 year low of $31.33 and a 1 year high of $45.75. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of -53.46 and a beta of 0.82.

Lineage (NASDAQ:LINE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.98. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%.The business's quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 EPS. Analysts predict that Lineage, Inc. will post 2.5 earnings per share for the current year.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.5325 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.13 annualized dividend and a yield of 5.5%. Lineage's payout ratio is -295.83%.

Insider Buying and Selling

In other news, CFO Robb LeMasters acquired 20,000 shares of Lineage stock in a transaction on Friday, August 7th. The stock was bought at an average price of $41.33 per share, for a total transaction of $826,600.00. Following the completion of the purchase, the chief financial officer owned 49,500 shares in the company, valued at $2,045,835. This represents a 67.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Kevin Marchetti acquired 25,000 shares of the firm's stock in a transaction dated Friday, August 28th. The stock was purchased at an average cost of $39.50 per share, with a total value of $987,500.00. Following the completion of the acquisition, the chairman directly owned 138,690 shares of the company's stock, valued at approximately $5,478,255. This trade represents a 21.99% increase in their position. The SEC filing for this purchase provides additional information. 71.60% of the stock is currently owned by insiders.

Lineage Profile

Lineage, Inc NASDAQ: LINE is a global real estate investment trust focused on temperature-controlled industrial properties and the food supply chain. The company owns, operates and develops a network of cold-storage facilities designed to preserve perishable products, including frozen and refrigerated food, from production through distribution and retail.

Lineage provides temperature-controlled warehousing, inventory management, transportation coordination and related supply-chain services.

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