Envestnet Asset Management Inc. Sells 5,313 Shares of Lineage, Inc. (NASDAQ:LINE)

Envestnet Asset Management Inc. lowered its holdings in Lineage, Inc. (NASDAQ:LINE) by 21.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,563 shares of the company’s stock after selling 5,313 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Lineage were worth $1,146,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Lineage by 7,466.7% during the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after buying an additional 448 shares during the last quarter. Franklin Resources Inc. bought a new stake in Lineage during the fourth quarter worth about $208,000. EntryPoint Capital LLC bought a new stake in Lineage during the fourth quarter worth about $289,000. M&T Bank Corp grew its stake in Lineage by 9.7% during the fourth quarter. M&T Bank Corp now owns 4,987 shares of the company’s stock worth $292,000 after buying an additional 439 shares during the last quarter. Finally, EPIQ Capital Group LLC grew its stake in Lineage by 10.9% during the fourth quarter. EPIQ Capital Group LLC now owns 5,100 shares of the company’s stock worth $301,000 after buying an additional 500 shares during the last quarter.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the purchase, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Lineage Stock Down 14.6 %

Shares of NASDAQ LINE opened at $48.23 on Thursday. The company’s 50 day simple moving average is $56.90 and its 200 day simple moving average is $60.88. Lineage, Inc. has a fifty-two week low of $46.63 and a fifty-two week high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage (NASDAQ:LINE) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts anticipate that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were paid a $0.5275 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 4.37%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LINE shares. Royal Bank of Canada decreased their price objective on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Citigroup started coverage on shares of Lineage in a research note on Friday, March 28th. They set a “neutral” rating and a $64.00 price objective on the stock. Scotiabank reiterated a “sector perform” rating and set a $56.00 target price (down from $74.00) on shares of Lineage in a research report on Thursday, April 10th. Robert W. Baird reduced their target price on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group reduced their target price on shares of Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lineage has an average rating of “Moderate Buy” and an average price target of $77.63.

Lineage Profile

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.