Alyeska Investment Group L.P. Increases Stake in Lineage, Inc. (NASDAQ:LINE)

Alyeska Investment Group L.P. grew its holdings in Lineage, Inc. (NASDAQ:LINE - Free Report) by 70.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,196,848 shares of the company's stock after purchasing an additional 492,680 shares during the period. Alyeska Investment Group L.P. owned about 0.52% of Lineage worth $70,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in Lineage by 7,466.7% in 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 purchased a new position in shares of Lineage during the fourth quarter worth approximately $29,000. Quarry LP bought a new stake in shares of Lineage during the fourth quarter valued at approximately $50,000. Stifel Financial Corp boosted its holdings in shares of 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 period. Finally, Franklin Resources Inc. bought a new position in Lineage in the fourth quarter worth approximately $208,000.

Insider Activity

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the company's stock in a transaction dated 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 acquisition, the chairman now directly owns 24,317 shares of the company's stock, valued at approximately $1,471,178.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company's stock.

Lineage Stock Down 2.2 %

Shares of LINE traded down $1.00 during mid-day trading on Monday, hitting $44.28. 1,397,658 shares of the company traded hands, compared to its average volume of 1,266,154. The company has a market capitalization of $10.10 billion and a PE ratio of -13.75. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average of $56.29 and a 200 day moving average of $60.01. Lineage, Inc. has a 1-year low of $44.00 and a 1-year high of $89.85.

Lineage (NASDAQ:LINE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating 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 company's revenue was down 2.7% compared to the same quarter last year. Equities research analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were paid a dividend of $0.5275 per share. The ex-dividend date was Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 4.77%. Lineage's payout ratio is presently -65.53%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BNP Paribas began coverage on Lineage in a report on Tuesday, January 14th. They issued a "neutral" rating and a $61.00 target price for the company. Robert W. Baird lowered their price objective on shares of Lineage from $70.00 to $64.00 and set an "outperform" rating for the company in a research note on Thursday. Barclays assumed coverage on shares of Lineage in a report on Wednesday, April 9th. They set an "overweight" rating and a $59.00 target price on the stock. Citigroup initiated coverage on shares of Lineage in a report on Friday, March 28th. They issued a "neutral" rating and a $64.00 price target for the company. Finally, Piper Sandler dropped their price objective on shares of Lineage from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $73.47.

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.