Lineage (NASDAQ:LINE) Chairman Adam Matthew Schwartz Forste Buys 74,000 Shares

Lineage, Inc. (NASDAQ:LINE) Chairman Adam Matthew Schwartz Forste purchased 74,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average price of $33.83 per share, for a total transaction of $2,503,420.00. Following the completion of the purchase, the chairman directly owned 109,266 shares of the company’s stock, valued at $3,696,468.78. This represents a 209.83% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Lineage Stock Performance

NASDAQ LINE traded down $1.27 during trading on Wednesday, reaching $33.28. The company’s stock had a trading volume of 1,039,525 shares, compared to its average volume of 1,071,265. Lineage, Inc. has a 12 month low of $33.13 and a 12 month high of $66.38. The firm has a 50 day moving average price of $39.71 and a 200 day moving average price of $42.39. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of -42.13 and a beta of -0.19. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.85 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the previous year, the company posted $0.90 earnings per share. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The business 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 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Lineage’s payout ratio is -267.09%.

Institutional Investors Weigh In On Lineage

Several institutional investors and hedge funds have recently made changes to their positions in LINE. American Century Companies Inc. raised its holdings in Lineage by 1,396.7% during the 1st quarter. American Century Companies Inc. now owns 230,847 shares of the company’s stock worth $13,535,000 after purchasing an additional 215,423 shares during the last quarter. XTX Topco Ltd increased its position in shares of Lineage by 419.2% during the first quarter. XTX Topco Ltd now owns 30,733 shares of the company’s stock worth $1,802,000 after buying an additional 24,814 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Lineage by 8.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 566,040 shares of the company’s stock worth $33,187,000 after buying an additional 43,242 shares during the last quarter. Nuveen LLC bought a new stake in Lineage during the first quarter valued at $37,468,000. Finally, Galvin Gaustad & Stein LLC grew its holdings in Lineage by 20.9% during the 1st quarter. Galvin Gaustad & Stein LLC now owns 192,786 shares of the company’s stock worth $11,303,000 after acquiring an additional 33,360 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have commented on LINE. The Goldman Sachs Group decreased their target price on shares of Lineage from $57.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Zacks Research cut Lineage from a “hold” rating to a “strong sell” rating in a report on Monday, September 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lineage in a research report on Friday, October 31st. Truist Financial decreased their price target on shares of Lineage from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of Lineage from $48.00 to $43.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 27th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $46.33.

About Lineage

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.