Lineage (NASDAQ:LINE) Chairman Buys $498,750.00 in Stock

Lineage, Inc. (NASDAQ:LINE) Chairman Kevin Patrick Marchetti acquired 13,300 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average cost of $37.50 per share, for a total transaction of $498,750.00. Following the acquisition, the chairman owned 113,690 shares in the company, valued at $4,263,375. This represents a 13.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Kevin Patrick Marchetti also recently made the following trade(s):

• On Monday, March 9th, Kevin Patrick Marchetti acquired 11,222 shares of Lineage stock. The shares were purchased at an average price of $39.05 per share, for a total transaction of $438,219.10.

Lineage Price Performance

LINE traded up $0.82 on Monday, reaching $37.25. The stock had a trading volume of 835,012 shares, compared to its average volume of 1,470,226. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of -86.63 and a beta of -0.43. Lineage, Inc. has a fifty-two week low of $32.46 and a fifty-two week high of $61.01. The firm has a 50-day moving average of $37.54 and a 200-day moving average of $37.73.

Lineage (NASDAQ:LINE) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.70). Lineage had a negative net margin of 1.87% and a negative return on equity of 1.06%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the business posted $0.83 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.5325 per share. This represents a $2.13 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from Lineage’s previous quarterly dividend of $0.53. Lineage’s payout ratio is presently -490.70%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Lineage during the second quarter worth $606,642,000. Darlington Partners Capital Management LP lifted its holdings in Lineage by 45.5% in the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock valued at $198,332,000 after buying an additional 1,605,810 shares during the period. Morgan Stanley boosted its position in Lineage by 378.6% during the fourth quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock valued at $175,607,000 after acquiring an additional 3,968,958 shares during the last quarter. Capital Research Global Investors boosted its position in Lineage by 4.0% during the third quarter. Capital Research Global Investors now owns 3,152,949 shares of the company’s stock valued at $121,830,000 after acquiring an additional 120,616 shares during the last quarter. Finally, State Street Corp grew its holdings in Lineage by 8.9% during the 2nd quarter. State Street Corp now owns 1,780,270 shares of the company’s stock worth $78,402,000 after acquiring an additional 145,742 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LINE shares. Wells Fargo & Company raised their price target on shares of Lineage from $32.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. Citigroup boosted their price objective on shares of Lineage from $38.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Robert W. Baird restated a “neutral” rating and issued a $39.00 price objective (down from $45.00) on shares of Lineage in a report on Thursday, December 18th. Royal Bank Of Canada raised their target price on Lineage from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Finally, Morgan Stanley cut their target price on Lineage from $46.00 to $39.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 16th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $43.18.

Lineage Company Profile

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.