Lineage (NASDAQ:LINE) CFO Robert Crisci Acquires 10,000 Shares of Stock

Lineage, Inc. (NASDAQ:LINE) CFO Robert Crisci acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $34.56 per share, for a total transaction of $345,600.00. Following the purchase, the chief financial officer owned 107,859 shares of the company’s stock, valued at $3,727,607.04. This trade represents a 10.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Lineage Stock Performance

LINE stock traded down $0.85 during midday trading on Monday, reaching $33.77. The company had a trading volume of 1,866,060 shares, compared to its average volume of 1,071,071. The firm has a market capitalization of $7.73 billion, a PE ratio of -42.75 and a beta of -0.20. The stock has a 50 day moving average price of $40.00 and a 200 day moving average price of $42.70. Lineage, Inc. has a fifty-two week low of $33.30 and a fifty-two week high of $68.81. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.76.

Lineage (NASDAQ:LINE) last issued its earnings results on Wednesday, November 5th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.07. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.30%.The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company earned $0.90 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. Analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend was Tuesday, September 30th. Lineage’s payout ratio is presently -267.09%.

Institutional Trading of Lineage

A number of hedge funds and other institutional investors have recently modified their holdings of LINE. Norges Bank bought a new position in Lineage during the second quarter valued at about $606,642,000. Price T Rowe Associates Inc. MD lifted its holdings in Lineage by 75.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company’s stock valued at $255,903,000 after acquiring an additional 1,880,587 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Lineage during the 3rd quarter valued at about $43,804,000. Nuveen LLC acquired a new position in shares of Lineage in the 1st quarter worth approximately $37,468,000. Finally, Evergreen Capital Management LLC acquired a new position in shares of Lineage in the 2nd quarter worth approximately $13,501,000.

Analyst Ratings Changes

Several equities research analysts have commented on LINE shares. Truist Financial dropped their price target on shares of Lineage from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. Royal Bank Of Canada lowered their target price on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, August 18th. Robert W. Baird cut their target price on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 13th. Wells Fargo & Company reduced their price target on Lineage from $48.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. Finally, 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. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, Lineage currently has an average rating of “Reduce” and an average price target of $47.00.

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.