Tudor Investment Corp ET AL Acquires New Shares in Lineage, Inc. (NASDAQ:LINE)

Tudor Investment Corp ET AL purchased a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 20,826 shares of the company's stock, valued at approximately $1,220,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Lineage in the 4th quarter valued at about $681,572,000. Vanguard Group Inc. increased its holdings in shares of Lineage by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company's stock valued at $562,003,000 after purchasing an additional 408,526 shares in the last quarter. D1 Capital Partners L.P. raised its position in Lineage by 257.5% in the 4th quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company's stock worth $219,848,000 after purchasing an additional 2,703,598 shares during the last quarter. Baillie Gifford & Co. boosted its position in Lineage by 80.8% in 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 during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Lineage by 36.9% in the 4th quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company's stock valued at $180,811,000 after buying an additional 831,533 shares during the last quarter.

Lineage Stock Performance

LINE stock traded up $0.91 during midday trading on Friday, reaching $45.62. 944,468 shares of the company were exchanged, compared to its average volume of 1,268,537. Lineage, Inc. has a one year low of $42.05 and a one year high of $89.85. The firm has a market capitalization of $10.41 billion and a price-to-earnings ratio of -14.17. The business has a 50-day moving average price of $55.05 and a two-hundred day moving average price of $59.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage (NASDAQ:LINE - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The business's revenue was down 2.7% compared to the same quarter last year. Equities research analysts forecast that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were paid 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 4.63%. Lineage's dividend payout ratio (DPR) is currently -65.53%.

Insider Buying and Selling

In related news, Chairman Kevin Patrick Marchetti purchased 11,500 shares of Lineage stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $43.75 per share, with a total value of $503,125.00. Following the completion of the transaction, the chairman now directly owns 27,733 shares of the company's stock, valued at $1,213,318.75. This represents a 70.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sudarsan V. Thattai acquired 4,420 shares of the company's stock in a transaction on Monday, May 5th. The stock was bought at an average cost of $45.23 per share, with a total value of $199,916.60. Following the completion of the acquisition, the insider now directly owns 4,420 shares in the company, valued at approximately $199,916.60. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 40,237 shares of company stock valued at $2,174,220. Insiders own 1.40% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. BNP Paribas initiated coverage on shares of Lineage in a report on Tuesday, January 14th. They issued a "neutral" rating and a $61.00 price objective on the stock. Scotiabank restated a "sector perform" rating and issued a $56.00 price target (down from $74.00) on shares of Lineage in a research report on Thursday, April 10th. Citigroup initiated coverage on Lineage in a report on Friday, March 28th. They issued a "neutral" rating and a $64.00 price objective for the company. Bank of America cut Lineage from a "buy" rating to a "neutral" rating and set a $49.00 target price on the stock. in a report on Tuesday. Finally, Robert W. Baird lowered their price target on Lineage from $70.00 to $64.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $70.79.

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.