Lineage (NASDAQ:LINE) Chairman Kevin Patrick Marchetti Acquires 25,000 Shares of Stock

Lineage, Inc. (NASDAQ:LINE) Chairman Kevin Patrick Marchetti acquired 25,000 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were bought at an average price of $39.50 per share, for a total transaction of $987,500.00. Following the completion of the acquisition, the chairman owned 138,690 shares in the company, valued at approximately $5,478,255. This trade represents a 21.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Lineage Price Performance

Lineage stock opened at $38.79 on Wednesday. Lineage, Inc. has a 1 year low of $31.33 and a 1 year high of $45.75. The firm has a 50 day moving average price of $42.34 and a 200 day moving average price of $39.84. The company has a market cap of $8.83 billion, a price-to-earnings ratio of -53.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.98. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.85%. Lineage’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 earnings per share. Sell-side analysts predict that Lineage, Inc. will post 2.51 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.5325 per share. This represents a $2.13 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Tuesday, June 30th. Lineage’s dividend payout ratio is presently -295.83%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LINE. Truist Financial lifted their target price on Lineage from $44.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Wells Fargo & Company raised their price objective on Lineage from $36.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday. Evercore set a $44.00 price objective on Lineage in a research note on Monday, June 8th. Weiss Ratings raised shares of Lineage from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group set a $53.00 price target on shares of Lineage in a report on Wednesday, August 12th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Lineage presently has a consensus rating of “Hold” and a consensus target price of $44.20.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Lineage by 11.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 926,149 shares of the company’s stock valued at $32,415,000 after buying an additional 93,188 shares in the last quarter. Norges Bank purchased a new stake in shares of Lineage during the 4th quarter valued at about $482,255,000. Legal & General Group Plc lifted its position in Lineage by 12.2% during the 4th quarter. Legal & General Group Plc now owns 428,280 shares of the company’s stock worth $14,990,000 after acquiring an additional 46,488 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Lineage during the 1st quarter worth approximately $2,009,000. Finally, BlackRock Inc. purchased a new position in Lineage in the 2nd quarter worth approximately $227,511,000.

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.