Optimize Financial Inc Purchases 2,125 Shares of Lineage, Inc. $LINE

Optimize Financial Inc raised its position in shares of Lineage, Inc. (NASDAQ:LINE) by 37.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,758 shares of the company’s stock after acquiring an additional 2,125 shares during the period. Optimize Financial Inc’s holdings in Lineage were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of LINE. Costello Asset Management INC bought a new position in shares of Lineage in the first quarter worth about $29,000. Salomon & Ludwin LLC bought a new position in shares of Lineage in the first quarter worth about $34,000. PNC Financial Services Group Inc. grew its holdings 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 purchasing an additional 460 shares during the last quarter. Global X Japan Co. Ltd. bought a new position in shares of Lineage in the first quarter worth about $74,000. Finally, Quarry LP grew its holdings in shares of Lineage by 168.4% in the first quarter. Quarry LP now owns 2,308 shares of the company’s stock worth $135,000 after purchasing an additional 1,448 shares during the last quarter.

Insider Activity at Lineage

In related news, Chairman Kevin Patrick Marchetti acquired 23,540 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $42.28 per share, with a total value of $995,271.20. Following the transaction, the chairman directly owned 62,323 shares of the company’s stock, valued at $2,635,016.44. This trade represents a 60.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sudarsan V. Thattai purchased 3,563 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the acquisition, the insider owned 7,983 shares in the company, valued at $338,878.35. This trade represents a 80.61% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 39,448 shares of company stock valued at $1,645,752 over the last ninety days. 71.90% of the stock is currently owned by insiders.

Lineage Stock Performance

Shares of Lineage stock opened at $39.97 on Tuesday. The firm has a market capitalization of $9.14 billion, a P/E ratio of -14.33 and a beta of -0.22. 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 company has a 50 day moving average price of $41.99 and a 200 day moving average price of $48.12. Lineage, Inc. has a 52 week low of $38.83 and a 52 week high of $84.86.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. Lineage’s revenue was up .9% compared to the same quarter last year. Sell-side analysts expect that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were given a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Monday, June 30th. Lineage’s dividend payout ratio (DPR) is presently -75.63%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wells Fargo & Company cut their price target on shares of Lineage from $48.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 27th. BNP Paribas Exane cut shares of Lineage from a “neutral” rating to an “underperform” rating and set a $42.00 target price on the stock. in a report on Thursday, June 12th. Robert W. Baird dropped their target price on shares of Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, August 13th. Citigroup decreased their price target on shares of Lineage from $64.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, June 12th. Finally, The Goldman Sachs Group decreased their price target on shares of Lineage from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $52.79.

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.