Lineage (NASDAQ:LINE) Chairman Adam Matthew Schwartz Forste Acquires 74,000 Shares of Stock

Lineage, Inc. (NASDAQ:LINE) Chairman Adam Matthew Schwartz Forste purchased 74,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average price of $33.83 per share, for a total transaction of $2,503,420.00. Following the purchase, the chairman owned 109,266 shares in the company, valued at $3,696,468.78. This represents a 209.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Lineage Stock Performance

LINE stock opened at $33.28 on Thursday. The stock has a market capitalization of $7.61 billion, a PE ratio of -42.13 and a beta of -0.19. Lineage, Inc. has a 12-month low of $33.13 and a 12-month high of $66.38. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76. The stock’s 50 day simple moving average is $39.56 and its 200 day simple moving average is $42.33.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, November 5th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.30%.The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 EPS. As a group, research analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Lineage’s dividend payout ratio (DPR) is presently -267.09%.

Institutional Investors Weigh In On Lineage

A number of hedge funds have recently modified their holdings of the business. Costello Asset Management INC purchased a new position in Lineage during the first quarter valued at $29,000. EverSource Wealth Advisors LLC increased its position in Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after buying an additional 362 shares in the last quarter. Signaturefd LLC increased its position in Lineage by 132.3% in the second quarter. Signaturefd LLC now owns 648 shares of the company’s stock worth $28,000 after buying an additional 369 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Lineage by 82.2% in the third quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after buying an additional 300 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Lineage by 170.4% in the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock worth $43,000 after buying an additional 460 shares during the period.

Wall Street Analyst Weigh In

LINE has been the topic of a number of research analyst reports. Truist Financial lowered their price objective on shares of Lineage from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, August 22nd. Bank of America reaffirmed an “underperform” rating and issued a $42.00 target price (down previously from $47.00) on shares of Lineage in a research report on Monday, August 11th. Morgan Stanley lowered their price target on Lineage from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Monday, September 22nd. The Goldman Sachs Group dropped their price target on Lineage from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lineage in a report on Friday, October 31st. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, Lineage currently has a consensus rating of “Reduce” and an average price target of $46.33.

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.