Lineage (NASDAQ:LINE) Chairman Kevin Patrick Marchetti Acquires 14,500 Shares

Lineage, Inc. (NASDAQ:LINE) Chairman Kevin Patrick Marchetti bought 14,500 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average price of $33.72 per share, with a total value of $488,940.00. Following the acquisition, the chairman directly owned 89,168 shares in the company, valued at $3,006,744.96. The trade was a 19.42% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Kevin Patrick Marchetti also recently made the following trade(s):

• On Tuesday, August 19th, Kevin Patrick Marchetti purchased 12,345 shares of Lineage stock. The shares were purchased at an average price of $40.44 per share, for a total transaction of $499,231.80.

Lineage Trading Down 3.7%

Shares of NASDAQ LINE opened at $33.28 on Thursday. Lineage, Inc. has a twelve month low of $33.13 and a twelve month high of $66.38. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $39.56 and a 200-day simple moving average of $42.33. The stock has a market capitalization of $7.61 billion, a PE ratio of -42.13 and a beta of -0.19.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, November 5th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 1.85% and a negative net margin of 3.30%.Lineage’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. On average, equities analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

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

Analyst Upgrades and Downgrades

LINE has been the topic of several recent research reports. Barclays cut their target price on shares of Lineage from $51.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 22nd. Truist Financial cut their price objective on Lineage from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, August 22nd. Robert W. Baird reduced their price objective on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 13th. Mizuho lowered their target price on Lineage from $44.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Finally, Evercore ISI cut their price target on Lineage from $44.00 to $38.00 and set an “in-line” rating on the stock in a report on Monday. 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 MarketBeat.com, Lineage presently has a consensus rating of “Reduce” and an average price target of $46.33.

Institutional Investors Weigh In On Lineage

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its stake in Lineage by 82.2% during the third quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Lineage by 172.4% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after purchasing an additional 362 shares in the last quarter. Signaturefd LLC lifted its position in shares of Lineage by 132.3% during the 2nd 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. Costello Asset Management INC purchased a new stake in shares of Lineage during the 1st quarter worth approximately $29,000. Finally, Caitlin John LLC acquired a new position in shares of Lineage in the 3rd quarter valued at $31,000.

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.