Lineage (NASDAQ:LINE) Hits New 52-Week Low - What's Next?

Lineage, Inc. (NASDAQ:LINE - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $41.77 and last traded at $42.01, with a volume of 433319 shares. The stock had previously closed at $42.96.

Wall Street Analysts Forecast Growth

LINE has been the topic of several research reports. Citigroup decreased their target price on Lineage from $64.00 to $49.00 and set a "neutral" rating on the stock in a research note on Thursday, June 12th. Scotiabank decreased their target price on Lineage from $56.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. UBS Group decreased their target price on Lineage from $62.00 to $49.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. BNP Paribas Exane lowered Lineage from a "neutral" rating to an "underperform" rating and set a $42.00 target price on the stock. in a research note on Thursday, June 12th. Finally, Morgan Stanley lowered Lineage from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $75.00 to $50.00 in a research note on Monday, June 23rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $61.70.

Lineage Trading Up 1.5%

The firm has a market cap of $9.48 billion and a PE ratio of -12.88. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.66. The business has a fifty day moving average price of $44.43 and a 200 day moving average price of $52.30.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings data 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 7.24% and a negative net margin of 11.88%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.34 billion. The business's revenue was down 2.7% on a year-over-year basis. Analysts forecast that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be paid a dividend of $0.5275 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a yield of 5.09%. Lineage's dividend payout ratio is presently -65.53%.

Insider Buying and Selling

In other news, Chairman Adam Matthew Schwartz Forste purchased 10,949 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average price of $44.93 per share, for a total transaction of $491,938.57. Following the purchase, the chairman directly owned 35,266 shares of the company's stock, valued at $1,584,501.38. This represents a 45.03% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sudarsan V. Thattai purchased 4,420 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were purchased at an average price of $45.23 per share, for a total transaction of $199,916.60. Following the purchase, the insider directly owned 4,420 shares in the company, valued at $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 26,869 shares of company stock worth $1,194,980 in the last quarter. 71.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LINE. Norges Bank purchased a new position in Lineage during the 4th quarter worth approximately $681,572,000. D1 Capital Partners L.P. grew its stake in shares of Lineage by 257.5% in the 4th 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 during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Lineage by 75.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company's stock valued at $255,903,000 after purchasing an additional 1,880,587 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Lineage by 92.1% in the 4th quarter. Janus Henderson Group PLC now owns 3,233,219 shares of the company's stock valued at $189,380,000 after purchasing an additional 1,550,478 shares during the last quarter. Finally, Darlington Partners Capital Management LP purchased a new position in shares of Lineage in the 4th quarter valued at approximately $90,491,000.

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.