Balyasny Asset Management L.P. Cuts Stock Holdings in Lineage, Inc. (NASDAQ:LINE)

Balyasny Asset Management L.P. trimmed its stake in Lineage, Inc. (NASDAQ:LINE - Free Report) by 51.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 499,367 shares of the company's stock after selling 534,486 shares during the period. Balyasny Asset Management L.P. owned about 0.22% of Lineage worth $29,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Lineage by 7,466.7% during 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 in the last quarter. FIL Ltd purchased a new stake in Lineage during the 4th quarter valued at about $29,000. Quarry LP purchased a new position in Lineage during the 4th quarter worth approximately $50,000. Stifel Financial Corp boosted its holdings in Lineage by 30.5% in the fourth quarter. Stifel Financial Corp now owns 3,509 shares of the company's stock valued at $206,000 after purchasing an additional 821 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new position in Lineage during the fourth quarter valued at approximately $208,000.

Wall Street Analysts Forecast Growth

LINE has been the topic of several recent analyst reports. Scotiabank reissued a "sector perform" rating and set a $56.00 target price (down from $74.00) on shares of Lineage in a research note on Thursday, April 10th. Royal Bank of Canada dropped their price target on Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Citigroup started coverage on shares of Lineage in a report on Friday, March 28th. They issued a "neutral" rating and a $64.00 target price on the stock. Evercore ISI reduced 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, May 1st. Finally, Robert W. Baird lowered their price target on 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $70.79.

Lineage Stock Up 2.0 %

Shares of NASDAQ LINE traded up $0.91 during mid-day trading on Friday, reaching $45.62. The company had a trading volume of 944,468 shares, compared to its average volume of 1,268,537. Lineage, Inc. has a 52-week low of $42.05 and a 52-week high of $89.85. The stock has a market cap of $10.41 billion and a P/E ratio of -14.17. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The firm has a 50 day simple moving average of $55.05 and a two-hundred day simple moving average of $59.33.

Lineage (NASDAQ:LINE - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.34 billion. The firm's revenue for the quarter was down 2.7% on a year-over-year basis. Sell-side analysts predict that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were given a $0.5275 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 4.63%. Lineage's dividend payout ratio (DPR) is -65.53%.

Insider Transactions at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the transaction, the chairman now directly owns 24,317 shares of the company's stock, valued at approximately $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sudarsan V. Thattai purchased 4,420 shares of the stock in a transaction dated Monday, May 5th. The stock was acquired at an average price of $45.23 per share, for a total transaction of $199,916.60. Following the completion of the transaction, the insider now directly owns 4,420 shares of the company's stock, valued at approximately $199,916.60. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 40,237 shares of company stock worth $2,174,220 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

Lineage 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.