Arkadios Wealth Advisors Acquires New Holdings in Lineage, Inc. $LINE

Arkadios Wealth Advisors bought a new stake in Lineage, Inc. (NASDAQ:LINE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 21,434 shares of the company’s stock, valued at approximately $933,000.

Several other hedge funds also recently modified their holdings of the business. Costello Asset Management INC bought a new position in shares of Lineage during the 1st quarter valued at $29,000. Signaturefd LLC increased its position in Lineage by 132.3% during the second quarter. Signaturefd LLC now owns 648 shares of the company’s stock worth $28,000 after buying an additional 369 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Lineage by 170.4% during the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock valued at $43,000 after buying an additional 460 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Lineage by 29,300.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 882 shares of the company’s stock worth $38,000 after buying an additional 879 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Lineage by 168.4% during the 1st quarter. Quarry LP now owns 2,308 shares of the company’s stock worth $135,000 after acquiring an additional 1,448 shares in the last quarter.

Insider Buying and Selling

In other news, Chairman Kevin Patrick Marchetti bought 12,345 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average cost of $40.44 per share, for a total transaction of $499,231.80. Following the completion of the purchase, the chairman owned 74,668 shares of the company’s stock, valued at $3,019,573.92. This trade represents a 19.81% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sudarsan V. Thattai purchased 3,563 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were acquired at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the purchase, the insider directly owned 7,983 shares of the company’s stock, valued at approximately $338,878.35. This represents a 80.61% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 39,448 shares of company stock valued at $1,645,752 in the last quarter. Corporate insiders own 71.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Scotiabank cut their price objective on Lineage from $49.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Friday, September 5th. Barclays lowered their price target on Lineage from $51.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. Robert W. Baird dropped their price target on shares of Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 13th. Truist Financial decreased their price objective on shares of Lineage from $60.00 to $53.00 and set a “buy” rating for the company in a report on Friday, August 22nd. Finally, Royal Bank Of Canada lowered their target price on shares of Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, August 18th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Lineage presently has an average rating of “Hold” and a consensus price target of $49.61.

Lineage Trading Up 1.0%

Shares of LINE stock opened at $39.40 on Monday. The firm has a market capitalization of $9.01 billion, a P/E ratio of -14.12 and a beta of -0.20. Lineage, Inc. has a 1 year low of $36.66 and a 1 year high of $75.65. The firm’s fifty day simple moving average is $40.45 and its 200 day simple moving average is $43.37. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.06. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts predict 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. Shareholders of record on Tuesday, September 30th were issued a $0.5275 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.11 annualized dividend and a yield of 5.4%. Lineage’s dividend payout ratio is -75.63%.

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.