Insider Buying: Lineage (NASDAQ:LINE) Chairman Acquires $498,750.00 in Stock

Lineage, Inc. (NASDAQ:LINE) Chairman Kevin Patrick Marchetti purchased 13,300 shares of Lineage stock in a transaction dated Thursday, March 12th. The stock was bought at an average cost of $37.50 per share, with a total value of $498,750.00. Following the completion of the purchase, the chairman owned 113,690 shares in the company, valued at approximately $4,263,375. This trade represents a 13.25% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

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

Lineage Price Performance

NASDAQ LINE opened at $37.82 on Thursday. Lineage, Inc. has a 12 month low of $32.46 and a 12 month high of $60.96. The firm has a market capitalization of $8.59 billion, a PE ratio of -87.95 and a beta of -0.42. The company’s 50 day simple moving average is $37.69 and its 200 day simple moving average is $37.68. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.80 and a quick ratio of 0.71.

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

Lineage Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Stockholders of record on Tuesday, March 31st will be issued a $0.5325 dividend. This represents a $2.13 annualized dividend and a dividend yield of 5.6%. This is a positive change from Lineage’s previous quarterly dividend of $0.53. The ex-dividend date is Tuesday, March 31st. Lineage’s payout ratio is currently -490.70%.

Institutional Investors Weigh In On Lineage

Hedge funds have recently modified their holdings of the stock. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Lineage by 58.0% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 76,007 shares of the company’s stock worth $2,937,000 after buying an additional 27,905 shares during the period. Rockefeller Capital Management L.P. lifted its stake in Lineage by 110.2% during the second quarter. Rockefeller Capital Management L.P. now owns 22,927 shares of the company’s stock valued at $998,000 after buying an additional 12,021 shares in the last quarter. Waterfall Asset Management LLC acquired a new position in shares of Lineage in the third quarter worth about $6,275,000. Corient Private Wealth LLC boosted its holdings in shares of Lineage by 590.5% in the second quarter. Corient Private Wealth LLC now owns 88,680 shares of the company’s stock worth $3,859,000 after buying an additional 75,838 shares during the period. Finally, SCP Investment LP increased its position in shares of Lineage by 113.3% in the third quarter. SCP Investment LP now owns 480,000 shares of the company’s stock worth $18,547,000 after acquiring an additional 255,000 shares in the last quarter.

Analyst Upgrades and Downgrades

LINE has been the topic of a number of research analyst reports. Zacks Research raised Lineage from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Compass Point assumed coverage on shares of Lineage in a report on Wednesday. They issued a “buy” rating and a $47.00 price target for the company. The Goldman Sachs Group reduced their price objective on shares of Lineage from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, November 25th. Piper Sandler boosted their target price on shares of Lineage from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, February 27th. Finally, Morgan Stanley cut their target price on shares of Lineage from $46.00 to $39.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 16th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $43.39.

About Lineage

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.