GCM Grosvenor Holdings LLC Takes Position in Lineage, Inc. $LINE

by · The Cerbat Gem

GCM Grosvenor Holdings LLC bought a new position in shares of Lineage, Inc. (NASDAQ:LINE – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 302,079 shares of the company’s stock, valued at approximately $13,146,000. Lineage accounts for about 1.9% of GCM Grosvenor Holdings LLC’s holdings, making the stock its 9th largest position. GCM Grosvenor Holdings LLC owned about 0.13% of Lineage at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in Lineage by 172.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after buying an additional 362 shares during the period. Signaturefd LLC raised its stake in shares of Lineage by 132.3% in the second quarter. Signaturefd LLC now owns 648 shares of the company’s stock valued at $28,000 after acquiring an additional 369 shares in the last quarter. Allworth Financial LP boosted its holdings in Lineage by 426.4% in the second quarter. Allworth Financial LP now owns 758 shares of the company’s stock valued at $33,000 after purchasing an additional 614 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Lineage by 29,300.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 882 shares of the company’s stock valued at $38,000 after purchasing an additional 879 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Lineage by 170.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock worth $43,000 after purchasing an additional 460 shares in the last quarter.

Lineage Stock Performance

Shares of LINE opened at $36.82 on Friday. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of -46.61 and a beta of -0.16. Lineage, Inc. has a 52-week low of $32.46 and a 52-week high of $62.40. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average price of $37.26 and a 200 day moving average price of $40.55.

Lineage (NASDAQ:LINE – Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.07. Lineage had a negative net margin of 3.30% and a negative return on equity of 1.85%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the firm earned $0.90 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. Research analysts predict that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Insider Activity at Lineage

In other news, Chairman Kevin Patrick Marchetti bought 14,500 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $33.72 per share, for a total transaction of $488,940.00. Following the completion of the transaction, the chairman owned 89,168 shares of the company’s stock, valued at approximately $3,006,744.96. This trade represents a 19.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robb A. Lemasters bought 30,000 shares of Lineage stock in a transaction dated Thursday, November 13th. The stock was purchased at an average cost of $33.74 per share, with a total value of $1,012,200.00. Following the completion of the acquisition, the chief financial officer directly owned 60,000 shares in the company, valued at approximately $2,024,400. The trade was a 100.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 129,000 shares of company stock valued at $4,366,940 in the last ninety days. 71.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LINE shares. JPMorgan Chase & Co. reduced their price target on Lineage from $43.00 to $38.00 and set an “underweight” rating on the stock in a research report on Friday, November 14th. Weiss Ratings restated a “sell (d)” rating on shares of Lineage in a research note on Monday. Royal Bank Of Canada reduced their target price on shares of Lineage from $51.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, November 12th. Barclays decreased their price target on shares of Lineage from $51.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Finally, Scotiabank dropped their price objective on shares of Lineage from $42.00 to $37.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 12th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lineage has a consensus rating of “Hold” and an average target price of $44.56.

Check Out Our Latest Report on Lineage

About Lineage

(Free Report)

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.

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