Insider Buying: Lineage (NASDAQ:LINE) CAO Acquires $16,780.00 in Stock

Lineage, Inc. (NASDAQ:LINE) CAO Abigail Fleming bought 500 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were bought at an average cost of $33.56 per share, for a total transaction of $16,780.00. Following the purchase, the chief accounting officer directly owned 5,862 shares in the company, valued at approximately $196,728.72. This represents a 9.32% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Lineage Price Performance

LINE stock opened at $35.82 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.99 and a quick ratio of 0.86. Lineage, Inc. has a 1 year low of $32.46 and a 1 year high of $65.69. The firm has a 50-day moving average of $38.06 and a 200 day moving average of $41.39. The company has a market cap of $8.18 billion, a P/E ratio of -45.34 and a beta of -0.19.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.85 earnings per share for the quarter, beating 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 business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the firm posted $0.90 EPS. The business’s revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts forecast that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th were paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Tuesday, September 30th. Lineage’s dividend payout ratio is presently -267.09%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Lineage during the second quarter valued at approximately $606,642,000. Price T Rowe Associates Inc. MD lifted its position 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 in the last quarter. Darlington Partners Capital Management LP boosted its stake in Lineage by 45.5% during the 3rd quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock valued at $198,332,000 after purchasing an additional 1,605,810 shares during the last quarter. HighTower Advisors LLC purchased a new stake in Lineage during the 3rd quarter valued at $43,804,000. Finally, Barclays PLC increased its holdings in shares of Lineage by 8,719.8% in the 3rd quarter. Barclays PLC now owns 1,022,125 shares of the company’s stock worth $39,495,000 after purchasing an additional 1,010,536 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages have commented on LINE. UBS Group lowered their price objective on Lineage from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Barclays lowered their price target on shares of Lineage from $51.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Royal Bank Of Canada cut their price objective on shares of Lineage from $51.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, November 12th. Bank of America reaffirmed an “underperform” rating and set a $42.00 target price (down previously from $47.00) on shares of Lineage in a research note on Monday, August 11th. Finally, Zacks Research cut Lineage from a “hold” rating to a “strong sell” rating in a research report on Monday, September 29th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, Lineage currently has a consensus rating of “Reduce” and an average target price of $45.17.

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.