Robb Lemasters Acquires 30,000 Shares of Lineage (NASDAQ:LINE) Stock

by · The Markets Daily

Lineage, Inc. (NASDAQ:LINE – Get Free Report) CFO Robb Lemasters acquired 30,000 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average price of $33.74 per share, with a total value of $1,012,200.00. Following the acquisition, the chief financial officer owned 60,000 shares in the company, valued at $2,024,400. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lineage Trading Up 0.7%

LINE stock traded up $0.25 during midday trading on Monday, reaching $33.66. The company’s stock had a trading volume of 1,020,455 shares, compared to its average volume of 1,072,392. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 0.99. The stock has a fifty day simple moving average of $39.27 and a two-hundred day simple moving average of $41.97. Lineage, Inc. has a 1 year low of $32.65 and a 1 year high of $66.38. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of -42.61 and a beta of -0.19.

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

Lineage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders 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 was Tuesday, September 30th. Lineage’s dividend payout ratio is currently -267.09%.

Institutional Trading of Lineage

A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in Lineage by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 269,663 shares of the company’s stock valued at $15,810,000 after acquiring an additional 2,879 shares in the last quarter. CWM LLC lifted its stake in shares of Lineage by 3,508.2% during the 1st quarter. CWM LLC now owns 2,634 shares of the company’s stock worth $154,000 after purchasing an additional 2,561 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Lineage during the 1st quarter worth $269,000. Oak Thistle LLC boosted its position in Lineage by 201.6% during the first quarter. Oak Thistle LLC now owns 20,112 shares of the company’s stock valued at $1,179,000 after purchasing an additional 13,443 shares in the last quarter. Finally, Machina Capital S.A.S. purchased a new position in Lineage in the first quarter valued at about $513,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LINE. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lineage in a research report on Friday, October 31st. Evercore ISI reduced their price objective on Lineage from $44.00 to $38.00 and set an “in-line” rating on the stock in a report on Monday, November 10th. Piper Sandler reiterated a “neutral” rating and issued a $41.00 target price (down from $55.00) on shares of Lineage in a report on Thursday, November 6th. Bank of America reissued an “underperform” rating and set a $42.00 price target (down previously from $47.00) on shares of Lineage in a research report on Monday, August 11th. Finally, The Goldman Sachs Group cut their price target on Lineage from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $46.06.

Check Out Our Latest Analysis on Lineage

About Lineage

(Get 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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