Kevin Patrick Marchetti Acquires 25,000 Shares of Lineage (NASDAQ:LINE) Stock

Lineage, Inc. (NASDAQ:LINE) Chairman Kevin Patrick Marchetti purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were purchased at an average price of $39.50 per share, for a total transaction of $987,500.00. Following the completion of the transaction, the chairman directly owned 138,690 shares of the company’s stock, valued at $5,478,255. This represents a 21.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lineage Stock Down 1.2%

LINE traded down $0.46 during trading on Tuesday, reaching $38.79. The stock had a trading volume of 695,115 shares, compared to its average volume of 1,124,088. 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 capitalization of $8.83 billion, a price-to-earnings ratio of -53.87 and a beta of 0.84. The stock’s 50 day moving average is $42.38 and its two-hundred day moving average is $39.84. Lineage, Inc. has a one year low of $31.33 and a one year high of $45.75.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results 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. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.85%. Lineage’s revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. As a group, analysts expect that Lineage, Inc. will post 2.51 earnings per share for the current year.

Lineage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Investors 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 5.5%. Lineage’s dividend payout ratio is presently -295.83%.

Hedge Funds Weigh In On Lineage

A number of institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in Lineage by 172.4% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after acquiring an additional 362 shares during the last quarter. Rothschild Investment LLC lifted its stake in shares of Lineage by 575.2% in the 4th quarter. Rothschild Investment LLC now owns 736 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares during the period. Paralel Advisors LLC purchased a new position in shares of Lineage in the second quarter worth approximately $26,000. Allworth Financial LP grew its position in Lineage by 106.6% during the fourth quarter. Allworth Financial LP now owns 940 shares of the company’s stock valued at $33,000 after buying an additional 485 shares during the period. Finally, Aew Capital Management L P bought a new stake in Lineage during the fourth quarter valued at approximately $42,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada raised their price target on Lineage from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, August 17th. Morgan Stanley upped their price target on shares of Lineage from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 2nd. Citigroup increased their price objective on shares of Lineage from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Wells Fargo & Company increased their price target on shares of Lineage from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Scotiabank restated a “sector perform” rating and issued a $45.00 price objective on shares of Lineage in a report on Thursday, June 18th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $44.20.

Lineage Company Profile

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.