Short Interest in Lineage, Inc. (NASDAQ:LINE) Drops By 27.6%

Lineage, Inc. (NASDAQ:LINE) was the target of a large drop in short interest in February. As of February 27th, there was short interest totaling 6,954,589 shares, a drop of 27.6% from the February 12th total of 9,609,402 shares. Based on an average daily trading volume, of 1,631,824 shares, the short-interest ratio is currently 4.3 days. Currently, 10.9% of the shares of the stock are short sold. Currently, 10.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,631,824 shares, the short-interest ratio is currently 4.3 days.

Analyst Ratings Changes

LINE has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on shares of Lineage from $32.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. UBS Group reduced their price objective on Lineage from $41.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. JPMorgan Chase & Co. lowered their price objective on Lineage from $43.00 to $38.00 and set an “underweight” rating for the company in a research note on Friday, November 14th. Morgan Stanley dropped their target price on Lineage from $46.00 to $39.00 and set an “equal weight” rating for the company in a report on Tuesday, December 16th. Finally, Wall Street Zen downgraded Lineage from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $43.18.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti bought 11,222 shares of Lineage stock in a transaction dated Monday, March 9th. The shares were purchased at an average cost of $39.05 per share, for a total transaction of $438,219.10. Following the acquisition, the chairman directly owned 100,390 shares in the company, valued at approximately $3,920,229.50. This represents a 12.59% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 71.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lineage

A number of large investors have recently bought and sold shares of LINE. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of Lineage by 58.0% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 76,007 shares of the company’s stock worth $2,937,000 after purchasing an additional 27,905 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Lineage by 110.2% in the second quarter. Rockefeller Capital Management L.P. now owns 22,927 shares of the company’s stock worth $998,000 after purchasing an additional 12,021 shares during the last quarter. Waterfall Asset Management LLC purchased a new position in Lineage in the 3rd quarter worth about $6,275,000. Corient Private Wealth LLC increased its stake in Lineage by 590.5% in the 2nd quarter. Corient Private Wealth LLC now owns 88,680 shares of the company’s stock worth $3,859,000 after buying an additional 75,838 shares during the period. Finally, SCP Investment LP lifted its holdings in Lineage by 113.3% during the 3rd quarter. SCP Investment LP now owns 480,000 shares of the company’s stock valued at $18,547,000 after buying an additional 255,000 shares in the last quarter.

Lineage Trading Down 1.2%

NASDAQ:LINE traded down $0.44 during mid-day trading on Friday, hitting $36.43. 562,193 shares of the stock traded hands, compared to its average volume of 1,441,241. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of 0.79. Lineage has a 52 week low of $32.46 and a 52 week high of $61.01. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of 10.87 and a beta of -0.42. The firm’s 50 day moving average is $37.54 and its two-hundred day moving average is $37.76.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.70). Lineage had a negative return on equity of 1.06% and a negative net margin of 1.87%.The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business earned $0.83 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. On average, equities research analysts predict that Lineage will post 2.34 earnings per share for the current year.

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Wednesday, December 31st were paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Wednesday, December 31st. Lineage’s dividend payout ratio (DPR) is currently -490.70%.

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.