Paralel Advisors LLC Sells 24,400 Shares of Lineage, Inc. $LINE

Paralel Advisors LLC cut its stake in shares of Lineage, Inc. (NASDAQ:LINE) by 97.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 600 shares of the company’s stock after selling 24,400 shares during the period. Paralel Advisors LLC’s holdings in Lineage were worth $26,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Lineage during the fourth quarter worth approximately $482,255,000. BlackRock Inc. bought a new stake in Lineage in the 2nd quarter valued at $227,511,000. Morgan Stanley grew its holdings in Lineage by 378.6% in the 4th quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock valued at $175,607,000 after buying an additional 3,968,958 shares in the last quarter. Bank of America Corp DE acquired a new position in Lineage in the 2nd quarter valued at $156,045,000. Finally, Darlington Partners Capital Management LP increased its position in Lineage by 45.5% during the 3rd quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock worth $198,332,000 after buying an additional 1,605,810 shares during the period.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Kevin Marchetti purchased 25,000 shares of the stock in a transaction dated Friday, August 28th. The stock was bought at an average price of $39.50 per share, with a total value of $987,500.00. Following the acquisition, the chairman owned 138,690 shares of the company’s stock, valued at approximately $5,478,255. This represents a 21.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robb LeMasters acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $41.33 per share, with a total value of $826,600.00. Following the completion of the transaction, the chief financial officer owned 49,500 shares in the company, valued at $2,045,835. The trade was a 67.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 71.60% of the company’s stock.

Lineage Stock Performance

Shares of Lineage stock opened at $38.17 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84. The company has a market cap of $8.69 billion, a PE ratio of -53.01 and a beta of 0.82. The company has a 50 day moving average of $42.09 and a 200-day moving average of $39.85. Lineage, Inc. has a 1-year low of $31.33 and a 1-year high of $45.75.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.98. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.85%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the firm posted $0.81 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts forecast that Lineage, Inc. will post 2.51 earnings per share for the current fiscal year.

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, June 30th were paid a $0.5325 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.13 annualized dividend and a dividend yield of 5.6%. Lineage’s dividend payout ratio (DPR) is presently -295.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LINE shares. Morgan Stanley lifted their target price on Lineage from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 2nd. Royal Bank Of Canada upped their price target on shares of Lineage from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, August 17th. UBS Group raised their price target on shares of Lineage from $35.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. Scotiabank reiterated a “sector perform” rating and issued a $45.00 price objective on shares of Lineage in a research note on Thursday, June 18th. Finally, Piper Sandler cut their price objective on shares of Lineage from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, August 27th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lineage currently has an average rating of “Hold” and an average target price of $44.20.

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.