Ghisallo Capital Management LLC Acquires 200,000 Shares of Lineage, Inc. (NASDAQ:LINE)

Ghisallo Capital Management LLC boosted its position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 20.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,200,100 shares of the company's stock after acquiring an additional 200,000 shares during the quarter. Lineage accounts for 4.1% of Ghisallo Capital Management LLC's portfolio, making the stock its 3rd biggest holding. Ghisallo Capital Management LLC owned 0.53% of Lineage worth $70,290,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Lineage during the fourth quarter valued at approximately $681,572,000. D1 Capital Partners L.P. lifted its holdings in Lineage by 257.5% during the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock valued at $219,848,000 after purchasing an additional 2,703,598 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Lineage during the third quarter valued at approximately $173,115,000. Baillie Gifford & Co. lifted its holdings in Lineage by 80.8% during the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock valued at $181,484,000 after purchasing an additional 1,384,481 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in Lineage by 100.0% during the fourth quarter. Capital Research Global Investors now owns 2,000,433 shares of the company's stock valued at $117,165,000 after purchasing an additional 1,000,433 shares in the last quarter.

Lineage Price Performance

Lineage stock traded down $1.29 during midday trading on Thursday, reaching $46.94. The company had a trading volume of 799,664 shares, compared to its average volume of 997,906. Lineage, Inc. has a 12-month low of $46.30 and a 12-month high of $89.85. The firm's fifty day simple moving average is $56.90 and its 200-day simple moving average is $60.88. 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 issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share 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 net margin of 12.18% and a negative return on equity of 9.89%. Lineage's quarterly revenue was down 2.7% compared to the same quarter last year. On average, analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were paid a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date was Monday, March 31st.

Insiders Place Their Bets

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm's stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the purchase, the chairman now directly owns 24,317 shares of the company's stock, valued at $1,471,178.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on LINE shares. BNP Paribas began coverage on shares of Lineage in a report on Tuesday, January 14th. They set a "neutral" rating and a $61.00 price target on the stock. Mizuho decreased their price target on shares of Lineage from $86.00 to $67.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group cut their price objective on shares of Lineage from $89.00 to $77.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. Evercore ISI reduced their price objective on shares of Lineage from $68.00 to $59.00 and set an "in-line" rating for the company in a research note on Thursday. Finally, Barclays started coverage on Lineage in a research report on Wednesday, April 9th. They set an "overweight" rating and a $59.00 price target on the stock. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.32.

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.