Freestone Grove Partners LP Invests $10.25 Million in Lineage, Inc. (NASDAQ:LINE)

Freestone Grove Partners LP purchased a new stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 175,000 shares of the company's stock, valued at approximately $10,250,000. Freestone Grove Partners LP owned 0.08% of Lineage as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LINE. Norges Bank purchased a new position in Lineage in the fourth quarter worth $681,572,000. D1 Capital Partners L.P. increased its stake in shares of Lineage by 257.5% in the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock worth $219,848,000 after acquiring an additional 2,703,598 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Lineage in the third quarter worth about $173,115,000. Baillie Gifford & Co. raised its position in shares of Lineage by 80.8% in the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock worth $181,484,000 after acquiring an additional 1,384,481 shares during the period. Finally, Capital Research Global Investors grew its stake in Lineage by 100.0% in the 4th quarter. Capital Research Global Investors now owns 2,000,433 shares of the company's stock valued at $117,165,000 after acquiring an additional 1,000,433 shares during the period.

Insider Transactions at Lineage

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the purchase, the chairman now owns 24,317 shares of the company's stock, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.40% of the company's stock.

Analyst Ratings Changes

LINE has been the topic of a number of research reports. Evercore ISI decreased their target price on shares of Lineage from $68.00 to $59.00 and set an "in-line" rating on the stock in a research note on Thursday, May 1st. BNP Paribas initiated coverage on shares of Lineage in a research report on Tuesday, January 14th. They set a "neutral" rating and a $61.00 price objective for the company. Citigroup started coverage on shares of Lineage in a research note on Friday, March 28th. They set a "neutral" rating and a $64.00 price target on the stock. Mizuho cut their price target on Lineage from $86.00 to $67.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Finally, Robert W. Baird decreased their price objective on shares of Lineage from $70.00 to $64.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lineage presently has an average rating of "Moderate Buy" and an average price target of $70.79.

Lineage Stock Down 1.1 %

Shares of NASDAQ LINE traded down $0.50 during mid-day trading on Tuesday, reaching $43.78. The company had a trading volume of 2,074,084 shares, compared to its average volume of 1,270,276. Lineage, Inc. has a twelve month low of $42.15 and a twelve month high of $89.85. The stock's 50 day moving average is $56.29 and its 200-day moving average is $60.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. The stock has a market capitalization of $9.99 billion and a PE ratio of -13.60.

Lineage (NASDAQ:LINE - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. Lineage's revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were issued a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.82%. Lineage's payout ratio is presently -65.53%.

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.