Lineage, Inc. (NASDAQ:LINE) Sees Large Growth in Short Interest

Lineage, Inc. (NASDAQ:LINE) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 8,888,170 shares, a growth of 55.5% from the November 30th total of 5,716,855 shares. Based on an average daily volume of 1,448,456 shares, the days-to-cover ratio is presently 6.1 days. Currently, 13.9% of the shares of the company are short sold. Currently, 13.9% of the shares of the company are short sold. Based on an average daily volume of 1,448,456 shares, the days-to-cover ratio is presently 6.1 days.

Insider Activity

In related news, CFO Robb A. Lemasters bought 30,000 shares of the stock in a transaction dated Thursday, November 13th. The shares were purchased at an average price of $33.74 per share, with a total value of $1,012,200.00. Following the completion of the acquisition, the chief financial officer owned 60,000 shares of the company’s stock, valued at $2,024,400. This represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Crisci acquired 10,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was purchased at an average cost of $34.56 per share, with a total value 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. The trade was a 10.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 129,000 shares of company stock worth $4,366,940 in the last quarter. Corporate insiders own 71.90% of the company’s stock.

Institutional Trading of Lineage

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rockefeller Capital Management L.P. boosted its stake in Lineage by 110.2% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 22,927 shares of the company’s stock valued at $998,000 after purchasing an additional 12,021 shares during the last quarter. Strs Ohio purchased a new position in shares of Lineage during the 1st quarter valued at $5,722,000. Raymond James Financial Inc. purchased a new stake in Lineage during the first quarter valued at about $3,385,000. Corient Private Wealth LLC grew its stake in Lineage by 590.5% in the 2nd quarter. Corient Private Wealth LLC now owns 88,680 shares of the company’s stock valued at $3,859,000 after buying an additional 75,838 shares in the last quarter. Finally, MAI Capital Management grew its holdings in Lineage by 91,379.2% during the 1st quarter. MAI Capital Management now owns 65,865 shares of the company’s stock valued at $3,862,000 after buying an additional 65,793 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. UBS Group cut their price objective on shares of Lineage from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Scotiabank reduced their price target on Lineage from $42.00 to $37.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 12th. JPMorgan Chase & Co. lowered their target price on shares of Lineage from $43.00 to $38.00 and set an “underweight” rating for the company in a research note on Friday, November 14th. Zacks Research upgraded shares of Lineage from a “strong sell” rating to a “hold” rating in a research report on Monday, December 1st. Finally, Morgan Stanley cut their price target on Lineage from $46.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $42.78.

Lineage Trading Up 2.9%

LINE stock traded up $0.99 during midday trading on Tuesday, hitting $35.33. The stock had a trading volume of 775,798 shares, compared to its average volume of 1,169,853. The firm has a market cap of $8.06 billion, a PE ratio of -44.67 and a beta of -0.15. 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 has a 12-month low of $32.46 and a 12-month high of $62.30. The company’s 50-day moving average price is $36.02 and its 200 day moving average price is $39.75.

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

Lineage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Wednesday, December 31st. Lineage’s dividend payout ratio (DPR) is -267.09%.

About Lineage

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.