Sudarsan V. Thattai Acquires 3,563 Shares of Lineage, Inc. (NASDAQ:LINE) Stock

Key Points

• Insider Sudarsan V. Thattai acquired 3,563 shares of Lineage, Inc. at an average cost of $42.45 per share, increasing their total holdings by 80.61%.
• Lineage's recent quarterly earnings exceeded expectations with an EPS of $0.81, while the company's revenue reached $1.35 billion, showing a 0.9% year-over-year growth.
• The company announced a quarterly dividend of $0.5275, which translates to an annualized dividend yield of 5.3%.

Lineage, Inc. (NASDAQ:LINE - Get Free Report) insider Sudarsan V. Thattai purchased 3,563 shares of the stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the acquisition, the insider owned 7,983 shares of the company's stock, valued at $338,878.35. The trade was a 80.61% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Lineage Price Performance

Shares of Lineage stock traded down $1.55 on Monday, hitting $40.09. 1,392,957 shares of the company were exchanged, compared to its average volume of 1,025,567. Lineage, Inc. has a 1-year low of $40.06 and a 1-year high of $88.07. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $9.16 billion and a price-to-earnings ratio of -14.37. The company has a 50-day moving average price of $43.60 and a 200 day moving average price of $50.61.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%. The firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.33 billion. Lineage's quarterly revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts predict that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were issued a $0.5275 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.3%. Lineage's payout ratio is -75.63%.

Institutional Investors Weigh In On Lineage

Several large investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Lineage by 339.1% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 20,183 shares of the company's stock valued at $878,000 after acquiring an additional 15,587 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Lineage by 110.2% in the second quarter. Rockefeller Capital Management L.P. now owns 22,927 shares of the company's stock valued at $998,000 after buying an additional 12,021 shares during the last quarter. Creative Planning raised its stake in Lineage by 15.8% in the second quarter. Creative Planning now owns 12,946 shares of the company's stock valued at $563,000 after buying an additional 1,762 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Lineage by 175.1% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 55,221 shares of the company's stock worth $2,403,000 after buying an additional 35,145 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Lineage by 23.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,763 shares of the company's stock valued at $468,000 after acquiring an additional 2,056 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LINE shares. Piper Sandler lowered their target price on Lineage from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday. KeyCorp reaffirmed a "sector weight" rating and set a $84.00 price objective on shares of Lineage in a research note on Tuesday, July 1st. Bank of America reiterated an "underperform" rating and issued a $42.00 target price (down from $47.00) on shares of Lineage in a research note on Monday. Morgan Stanley lowered shares of Lineage from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $75.00 to $50.00 in a research report on Monday, June 23rd. Finally, The Goldman Sachs Group lowered their target price on shares of Lineage from $74.00 to $63.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $59.85.

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.

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