Lineage (NASDAQ:LINE) Sees Unusually-High Trading Volume – Here’s Why

by · The Markets Daily

Lineage, Inc. (NASDAQ:LINE – Get Free Report) shares saw an uptick in trading volume on Thursday . 1,445,474 shares changed hands during mid-day trading, an increase of 107% from the previous session’s volume of 698,527 shares.The stock last traded at $55.20 and had previously closed at $54.65.

Analyst Ratings Changes

A number of research firms recently commented on LINE. Evercore ISI decreased their price target on Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. The Goldman Sachs Group decreased their target price on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, January 17th. JPMorgan Chase & Co. downgraded Lineage from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Mizuho decreased their target price on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Robert W. Baird decreased their target price on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.88.

View Our Latest Research Report on Lineage

Lineage Trading Down 1.5 %

The company has a fifty day moving average of $57.94 and a 200 day moving average of $69.42. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st were issued a dividend of $0.5275 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.11 annualized dividend and a yield of 3.92%.

Institutional Investors Weigh In On Lineage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its holdings in Lineage by 1.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company’s stock worth $595,000 after purchasing an additional 185 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Lineage by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company’s stock worth $1,740,000 after purchasing an additional 291 shares in the last quarter. US Bancorp DE bought a new stake in Lineage during the third quarter worth approximately $25,000. Nissay Asset Management Corp Japan ADV raised its holdings in Lineage by 4.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 8,910 shares of the company’s stock worth $526,000 after purchasing an additional 340 shares in the last quarter. Finally, Larson Financial Group LLC bought a new position in shares of Lineage in the third quarter valued at $34,000.

Lineage Company Profile

(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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