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

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Lineage from $62.00 to $49.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Citigroup initiated coverage on shares of Lineage in a report on Friday, March 28th. They set a "neutral" rating and a $64.00 price target for the company. BNP Paribas assumed coverage on shares of Lineage in a research note on Tuesday, January 14th. They set a "neutral" rating and a $61.00 price objective for the company. Barclays initiated coverage on shares of Lineage in a research note on Wednesday, April 9th. They set an "overweight" rating and a $59.00 price objective on the stock. Finally, Bank of America cut shares of Lineage from a "buy" rating to a "neutral" rating and set a $49.00 target price on the stock. in a report on Tuesday, May 6th. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $70.79.

Lineage Price Performance

The company has a market cap of $10.93 billion and a price-to-earnings ratio of -14.85. 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 company's fifty day moving average price is $55.05 and its two-hundred day moving average price is $59.07.

Lineage (NASDAQ:LINE - Get Free Report) last announced its quarterly earnings data 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 return on equity of 9.89% and a negative net margin of 12.18%. The company had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.34 billion. The business's quarterly revenue was down 2.7% on a year-over-year basis. On average, equities research analysts forecast that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were given a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.41%. Lineage's dividend payout ratio (DPR) is -65.53%.

Insiders Place Their Bets

In other news, insider Sudarsan V. Thattai purchased 4,420 shares of the company's stock in a transaction dated Monday, May 5th. The shares were purchased at an average price of $45.23 per share, with a total value of $199,916.60. Following the transaction, the insider now directly owns 4,420 shares of the company's stock, valued at approximately $199,916.60. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the company's stock in a transaction dated Friday, February 28th. The shares were purchased 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 in the company, valued at approximately $1,471,178.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 40,237 shares of company stock worth $2,174,220. 1.40% of the stock is owned by corporate insiders.

Institutional Trading of Lineage

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in Lineage in the 4th quarter worth about $681,572,000. D1 Capital Partners L.P. lifted 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 period. Janus Henderson Group PLC lifted 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 period. Darlington Partners Capital Management LP bought a new position in Lineage during the 4th quarter valued at approximately $90,491,000. Finally, Baillie Gifford & Co. increased its position in Lineage by 80.8% during the 4th quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock valued at $181,484,000 after buying an additional 1,384,481 shares in the last quarter.

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.