Envestnet Asset Management Inc. Sells 5,313 Shares of Lineage, Inc. (NASDAQ:LINE)

Envestnet Asset Management Inc. trimmed its position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 21.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,563 shares of the company's stock after selling 5,313 shares during the period. Envestnet Asset Management Inc.'s holdings in Lineage were worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LINE. GAMMA Investing LLC grew its position in shares of Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company's stock valued at $27,000 after acquiring an additional 448 shares during the period. Franklin Resources Inc. acquired a new stake in Lineage in the 4th quarter valued at about $208,000. EntryPoint Capital LLC bought a new position in Lineage during the fourth quarter worth about $289,000. M&T Bank Corp increased its position in Lineage by 9.7% during the fourth quarter. M&T Bank Corp now owns 4,987 shares of the company's stock worth $292,000 after buying an additional 439 shares during the last quarter. Finally, EPIQ Capital Group LLC raised its stake in Lineage by 10.9% in the fourth quarter. EPIQ Capital Group LLC now owns 5,100 shares of the company's stock valued at $301,000 after buying an additional 500 shares during the period.

Lineage Trading Down 4.1 %

Shares of LINE stock traded down $1.94 during mid-day trading on Friday, reaching $45.28. The stock had a trading volume of 2,083,929 shares, compared to its average volume of 1,265,458. The stock's 50-day moving average price is $56.55 and its two-hundred day moving average price is $60.46. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. Lineage, Inc. has a 52-week low of $44.95 and a 52-week high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. The firm's revenue for the quarter was down 2.7% compared to the same quarter last year. Equities research analysts expect that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were given a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend was Monday, March 31st.

Analyst Upgrades and Downgrades

LINE has been the topic of a number of recent analyst reports. Robert W. Baird decreased their target price on Lineage from $70.00 to $64.00 and set an "outperform" rating on the stock in a report on Thursday. Evercore ISI decreased their price objective on shares of Lineage from $68.00 to $59.00 and set an "in-line" rating on the stock in a report on Thursday. UBS Group cut their target price on shares of Lineage from $62.00 to $49.00 and set a "neutral" rating for the company in a research note on Friday. BNP Paribas assumed coverage on shares of Lineage in a research note on Tuesday, January 14th. They issued a "neutral" rating and a $61.00 price target on the stock. Finally, Scotiabank restated a "sector perform" rating and set a $56.00 price objective (down from $74.00) on shares of Lineage in a research report on Thursday, April 10th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lineage has a consensus rating of "Moderate Buy" and a consensus target price of $74.26.

Insider Buying and Selling

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the business's stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the acquisition, the chairman now owns 24,317 shares in the company, valued at $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% 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.