Lineage, Inc. (NASDAQ:LINE) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. trimmed its holdings in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 51.7% in the 4th quarter, according to the company in its most recent 13F 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 quarter. Balyasny Asset Management L.P. owned approximately 0.22% of Lineage worth $29,248,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in LINE. GAMMA Investing LLC raised its stake in shares of Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $27,000 after buying an additional 448 shares during the period. FIL Ltd acquired a new position in shares of Lineage during the 4th quarter worth approximately $29,000. Quarry LP acquired a new position in shares of Lineage during the 4th quarter worth approximately $50,000. Stifel Financial Corp raised its stake in shares of Lineage by 30.5% during the 4th quarter. Stifel Financial Corp now owns 3,509 shares of the company's stock worth $206,000 after buying an additional 821 shares during the period. Finally, Franklin Resources Inc. acquired a new position in shares of Lineage during the 4th quarter worth approximately $208,000.

Lineage Trading Up 5.0%

Shares of NASDAQ LINE traded up $2.29 during mid-day trading on Monday, reaching $47.91. 289,967 shares of the company's stock were exchanged, compared to its average volume of 1,263,728. The firm has a market capitalization of $10.95 billion and a price-to-earnings ratio of -14.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. Lineage, Inc. has a 52-week low of $42.05 and a 52-week high of $89.85. The company's 50-day moving average is $55.05 and its 200-day moving average is $59.07.

Lineage (NASDAQ:LINE - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.34 billion. Lineage's revenue for the quarter was down 2.7% 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 announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend was Monday, March 31st. Lineage's dividend payout ratio (DPR) is -65.53%.

Insider Activity at Lineage

In related news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the purchase, the chairman now owns 24,317 shares of the company's stock, valued at $1,471,178.50. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Kevin Patrick Marchetti bought 11,500 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average cost of $43.75 per share, for a total transaction of $503,125.00. Following the transaction, the chairman now directly owns 27,733 shares in the company, valued at approximately $1,213,318.75. This represents a 70.84% increase in their position. The disclosure for this purchase can be found here. Insiders bought 40,237 shares of company stock worth $2,174,220 in the last three months. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Scotiabank reaffirmed 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. UBS Group dropped their price target on Lineage from $62.00 to $49.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Piper Sandler dropped their price target on Lineage from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Robert W. Baird dropped 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. Finally, Barclays began coverage on Lineage in a research report on Wednesday, April 9th. They set an "overweight" rating and a $59.00 price target for the company. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lineage presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.79.

About Lineage

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.