Lineage (NASDAQ:LINE) CFO Robb Lemasters Purchases 30,000 Shares of Stock

Lineage, Inc. (NASDAQ:LINE) CFO Robb Lemasters purchased 30,000 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were acquired at an average cost of $33.74 per share, for a total transaction of $1,012,200.00. Following the transaction, the chief financial officer owned 60,000 shares of the company’s stock, valued at $2,024,400. This trade 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 at the SEC website.

Lineage Price Performance

Shares of LINE opened at $33.66 on Tuesday. The stock has a 50 day simple moving average of $39.15 and a 200 day simple moving average of $41.87. Lineage, Inc. has a 52-week low of $32.65 and a 52-week high of $66.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 0.99. The firm has a market capitalization of $7.68 billion, a PE ratio of -42.61 and a beta of -0.20.

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 firm 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%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Sell-side analysts predict that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th were paid a $0.5275 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a yield of 6.3%. Lineage’s dividend payout ratio is presently -267.09%.

Analyst Ratings Changes

LINE has been the topic of a number of research reports. Truist Financial cut their price target on Lineage from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Zacks Research cut Lineage from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. Evercore ISI reduced their price target on Lineage from $44.00 to $38.00 and set an “in-line” rating for the company in a research report on Monday, November 10th. Barclays decreased their price target on shares of Lineage from $51.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Finally, Mizuho cut their price objective on shares of Lineage from $44.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Five 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. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $46.06.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp boosted its holdings in shares of Lineage by 82.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock valued at $25,000 after buying an additional 300 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Lineage by 1.6% in the third quarter. Public Employees Retirement System of Ohio now owns 22,626 shares of the company’s stock valued at $874,000 after acquiring an additional 350 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after acquiring an additional 362 shares during the last quarter. Signaturefd LLC grew its position in shares of Lineage by 132.3% in the 2nd quarter. Signaturefd LLC now owns 648 shares of the company’s stock valued at $28,000 after acquiring an additional 369 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Lineage by 170.4% during the 1st 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.

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.