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Lineage, Inc. (NASDAQ:LINE) Chairman Purchases $995,271.20 in Stock

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Key Points

  • Chairman Kevin Patrick Marchetti of Lineage, Inc. purchased 23,540 shares of stock, totaling approximately $995,271.20, resulting in a 60.70% increase in his ownership position.
  • The company reported $1.35 billion in revenue for the last quarter, surpassing analysts' expectations, and posted an earnings per share of $0.81.
  • Lineage, Inc. recently declared a quarterly dividend of $0.5275 per share, reflecting a 5.3% yield, while the company currently has a negative dividend payout ratio of -75.63%.
  • Looking to export and analyze Lineage data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Lineage, Inc. (NASDAQ:LINE - Get Free Report) Chairman Kevin Patrick Marchetti acquired 23,540 shares of Lineage stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $42.28 per share, for a total transaction of $995,271.20. Following the completion of the purchase, the chairman owned 62,323 shares of the company's stock, valued at approximately $2,635,016.44. The trade was a 60.70% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lineage Stock Performance

NASDAQ LINE traded down $1.55 on Monday, reaching $40.09. 1,392,957 shares of the stock were exchanged, compared to its average volume of 1,025,567. Lineage, Inc. has a one year low of $40.06 and a one year high of $88.07. The company's 50-day simple moving average is $43.60 and its two-hundred day simple moving average is $50.61. 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 firm has a market capitalization of $9.16 billion and a PE ratio of -14.37.

Lineage (NASDAQ:LINE - Get Free Report) last posted 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. The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.33 billion. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The company's revenue for the quarter was up .9% compared to the same quarter last year. Analysts expect that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, June 30th were given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Monday, June 30th. Lineage's dividend payout ratio is presently -75.63%.

Institutional Trading of Lineage

Several hedge funds have recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Lineage by 4.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 8,910 shares of the company's stock valued at $526,000 after acquiring an additional 340 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Lineage by 132.3% during the second quarter. Signaturefd LLC now owns 648 shares of the company's stock valued at $28,000 after acquiring an additional 369 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Lineage by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 30,095 shares of the company's stock valued at $1,764,000 after acquiring an additional 371 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Lineage by 170.4% during the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company's stock valued at $43,000 after acquiring an additional 460 shares in the last quarter. Finally, Strs Ohio increased its holdings in shares of Lineage by 0.5% during the second quarter. Strs Ohio now owns 98,088 shares of the company's stock valued at $4,269,000 after acquiring an additional 488 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently commented on LINE shares. Barclays reduced their target price on shares of Lineage from $59.00 to $52.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Piper Sandler reduced their price objective on shares of Lineage from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday. UBS Group dropped their price objective on shares of Lineage from $49.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. KeyCorp restated a "sector weight" rating and issued a $84.00 price objective on shares of Lineage in a research report on Tuesday, July 1st. Finally, Citigroup lowered their price objective on shares of Lineage from $64.00 to $49.00 and set a "neutral" rating for the company in a report on Thursday, June 12th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Lineage presently has an average rating of "Hold" and a consensus target price of $59.85.

View Our Latest Report on Lineage

Lineage Company Profile

(Get Free Report)

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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