Lineage (NASDAQ:LINE) Chairman Kevin Patrick Marchetti Buys 13,300 Shares

Lineage, Inc. (NASDAQ:LINE) Chairman Kevin Patrick Marchetti bought 13,300 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average price of $37.50 per share, for a total transaction of $498,750.00. Following the transaction, the chairman owned 113,690 shares in the company, valued at $4,263,375. This represents a 13.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, March 9th, Kevin Patrick Marchetti bought 11,222 shares of Lineage stock. The shares were acquired at an average cost of $39.05 per share, with a total value of $438,219.10.

Lineage Trading Up 2.3%

LINE stock traded up $0.82 during mid-day trading on Monday, reaching $37.25. The company’s stock had a trading volume of 835,012 shares, compared to its average volume of 1,470,226. Lineage, Inc. has a 12 month low of $32.46 and a 12 month high of $61.01. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average price is $37.54 and its 200 day moving average price is $37.73. The company has a market cap of $8.46 billion, a price-to-earnings ratio of -86.63 and a beta of -0.43.

Lineage (NASDAQ:LINE) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.70). The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.38 billion. Lineage had a negative return on equity of 1.06% and a negative net margin of 1.87%.Lineage’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share. On average, equities research analysts predict that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, March 31st will be paid a dividend of $0.5325 per share. This is a boost from Lineage’s previous quarterly dividend of $0.53. This represents a $2.13 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Lineage’s payout ratio is currently -490.70%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Lineage in the second quarter valued at $606,642,000. Darlington Partners Capital Management LP grew its holdings in shares of Lineage by 45.5% during the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock valued at $198,332,000 after buying an additional 1,605,810 shares during the last quarter. Morgan Stanley increased its position in shares of Lineage by 378.6% during the fourth quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock worth $175,607,000 after acquiring an additional 3,968,958 shares in the last quarter. Capital Research Global Investors increased its position in shares of Lineage by 4.0% during the third quarter. Capital Research Global Investors now owns 3,152,949 shares of the company’s stock worth $121,830,000 after acquiring an additional 120,616 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Lineage by 8.9% in the 2nd quarter. State Street Corp now owns 1,780,270 shares of the company’s stock worth $78,402,000 after acquiring an additional 145,742 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have weighed in on LINE. Scotiabank lifted their price target on shares of Lineage from $39.00 to $42.00 and gave the company a “hold” rating in a research note on Wednesday, March 11th. The Goldman Sachs Group cut their price objective on shares of Lineage from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, November 25th. Wall Street Zen downgraded Lineage from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Citigroup boosted their target price on Lineage from $38.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Finally, Piper Sandler upped their price target on Lineage from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, February 27th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $43.18.

Lineage Company Profile

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.