Stevens Capital Management LP Lowers Position in Lineage, Inc. (NASDAQ:LINE)

Key Points

• Stevens Capital Management LP has sold 15,117 shares of Lineage, Inc., reducing its stake by 65.5% to 7,969 shares, valued at approximately $467,000.
• Analysts have recently cut their price targets for Lineage, with Robert W. Baird lowering it from $70 to $64 and Wells Fargo from $64 to $48, amid a mixed analyst consensus rating of "Hold."
• Insider trading activity saw Chairman Kevin Patrick Marchetti purchase 11,500 shares at $43.75 each, increasing his stake by over 70%, while insiders collectively acquired 26,869 shares worth about $1.2 million.

Stevens Capital Management LP cut its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 65.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,969 shares of the company's stock after selling 15,117 shares during the quarter. Stevens Capital Management LP's holdings in Lineage were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in Lineage by 12.4% in the 4th quarter. American Century Companies Inc. now owns 15,424 shares of the company's stock valued at $903,000 after buying an additional 1,697 shares in the last quarter. Vanguard Group Inc. grew its holdings in Lineage by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company's stock valued at $562,003,000 after purchasing an additional 408,526 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Lineage during the fourth quarter valued at approximately $289,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Lineage by 4.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 39,819 shares of the company's stock worth $2,349,000 after acquiring an additional 1,559 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in Lineage by 3.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 92,644 shares of the company's stock worth $5,426,000 after purchasing an additional 3,496 shares during the period.

Lineage Trading Up 0.2%

Shares of LINE stock traded up $0.08 during mid-day trading on Wednesday, reaching $44.16. 133,093 shares of the stock traded hands, compared to its average volume of 990,630. The stock's fifty day simple moving average is $43.90 and its two-hundred day simple moving average is $51.52. Lineage, Inc. has a 1-year low of $40.49 and a 1-year high of $89.85. The company has a market cap of $10.09 billion and a price-to-earnings ratio of -13.72. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative return on equity of 7.24% and a negative net margin of 11.88%. Lineage's revenue was down 2.7% compared to the same quarter last year. On average, research analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, June 30th were given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Monday, June 30th. Lineage's payout ratio is -65.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Citigroup cut their price objective on Lineage from $64.00 to $49.00 and set a "neutral" rating for the company in a report on Thursday, June 12th. UBS Group lowered their target price on Lineage from $49.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Robert W. Baird lowered their target price on Lineage from $70.00 to $64.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut Lineage from a "neutral" rating to an "underweight" rating and lowered their target price for the stock from $55.00 to $50.00 in a research note on Monday, June 23rd. Finally, BNP Paribas set a $42.00 price target on shares of Lineage in a research note on Thursday, June 12th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $61.15.

Insider Transactions at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti acquired 11,500 shares of Lineage stock in a transaction on Tuesday, May 6th. The stock was purchased at an average price of $43.75 per share, for a total transaction of $503,125.00. Following the purchase, the chairman directly owned 27,733 shares of the company's stock, valued at $1,213,318.75. This trade represents a 70.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Adam Matthew Schwartz Forste acquired 10,949 shares of Lineage stock in a transaction on Thursday, May 8th. The stock was acquired at an average price of $44.93 per share, with a total value of $491,938.57. Following the purchase, the chairman directly owned 35,266 shares in the company, valued at approximately $1,584,501.38. This trade represents a 45.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 26,869 shares of company stock valued at $1,194,980 over the last ninety days. 71.90% of the stock is owned by company insiders.

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.