First Pacific Financial Acquires 515 Shares of Lineage, Inc. $LINE

First Pacific Financial boosted its holdings in shares of Lineage, Inc. (NASDAQ:LINE) by 16.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,576 shares of the company’s stock after purchasing an additional 515 shares during the quarter. First Pacific Financial’s holdings in Lineage were worth $156,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LINE. GAMMA Investing LLC raised its stake in Lineage by 3,141.4% during the 1st quarter. GAMMA Investing LLC now owns 14,716 shares of the company’s stock valued at $863,000 after purchasing an additional 14,262 shares during the period. Parallel Advisors LLC purchased a new position in Lineage during the 1st quarter valued at approximately $151,000. SG Americas Securities LLC purchased a new position in Lineage during the 1st quarter valued at approximately $1,703,000. Sapient Capital LLC purchased a new position in Lineage during the 1st quarter valued at approximately $1,055,000. Finally, State of Alaska Department of Revenue grew its holdings in Lineage by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 30,095 shares of the company’s stock valued at $1,764,000 after buying an additional 371 shares in the last quarter.

Insider Buying and Selling

In other Lineage news, insider Sudarsan V. Thattai purchased 3,563 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $42.45 per share, with a total value of $151,249.35. Following the purchase, the insider owned 7,983 shares of the company’s stock, valued at approximately $338,878.35. The trade was a 80.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Kevin Patrick Marchetti purchased 12,345 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $40.44 per share, with a total value of $499,231.80. Following the completion of the purchase, the chairman directly owned 74,668 shares in the company, valued at $3,019,573.92. The trade was a 19.81% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 39,448 shares of company stock valued at $1,645,752 over the last three months. 71.90% of the stock is owned by corporate insiders.

Lineage Price Performance

Shares of Lineage stock opened at $39.54 on Thursday. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of -14.17 and a beta of -0.23. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.96. The stock has a 50 day moving average price of $41.17 and a 200-day moving average price of $46.09. Lineage, Inc. has a one year low of $36.66 and a one year high of $79.14.

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

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th will be paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Lineage’s dividend payout ratio (DPR) is currently -75.63%.

Analyst Upgrades and Downgrades

LINE has been the subject of several research analyst reports. UBS Group cut their price target on Lineage from $49.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, July 23rd. Robert W. Baird cut their price target on Lineage from $64.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, August 13th. Scotiabank cut their price target on Lineage from $49.00 to $43.00 and set a “sector perform” rating for the company in a report on Friday, September 5th. Evercore ISI raised their price target on Lineage from $43.00 to $45.00 and gave the company an “in-line” rating in a report on Monday, September 15th. Finally, Citigroup cut their price target on Lineage from $64.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, June 12th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Lineage has a consensus rating of “Hold” and an average price target of $50.11.

Lineage 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.