Lineage (NASDAQ:LINE) Reaches New 1-Year Low - Should You Sell?

Lineage, Inc. (NASDAQ:LINE - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $42.05 and last traded at $43.78, with a volume of 2076996 shares changing hands. The stock had previously closed at $44.28.

Analysts Set New Price Targets

LINE has been the subject of a number of recent research reports. Evercore ISI lowered their price target on shares of Lineage from $68.00 to $59.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. Bank of America downgraded shares of Lineage from a "buy" rating to a "neutral" rating and set a $49.00 price objective on the stock. in a research report on Tuesday. The Goldman Sachs Group lowered their target price on shares of Lineage from $89.00 to $77.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Citigroup began coverage on shares of Lineage in a research note on Friday, March 28th. They issued a "neutral" rating and a $64.00 price objective for the company. Finally, BNP Paribas started coverage on shares of Lineage in a report on Tuesday, January 14th. They issued a "neutral" rating and a $61.00 target price for the company. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Lineage has a consensus rating of "Moderate Buy" and a consensus target price of $70.79.

Lineage Trading Up 2.0 %

The company has a market capitalization of $10.41 billion and a PE 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 business's 50-day simple moving average is $55.05 and its two-hundred day simple moving average is $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, beating analysts' consensus estimates of $0.82 by $0.04. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. Lineage's revenue was down 2.7% on a year-over-year basis. On average, analysts predict that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

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

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LINE. Barclays PLC bought a new stake in shares of Lineage during the 3rd quarter worth $13,928,000. Principal Financial Group Inc. purchased a new position in shares of Lineage in the third quarter worth approximately $173,115,000. JPMorgan Chase & Co. acquired a new stake in shares of Lineage during the third quarter valued at approximately $12,542,000. GAMMA Investing LLC lifted 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 in the last quarter. Finally, Oak Thistle LLC purchased a new stake in shares of Lineage in the fourth quarter valued at $391,000.

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.