SG Americas Securities LLC Takes $1.70 Million Position in Lineage, Inc. (NASDAQ:LINE)

SG Americas Securities LLC acquired a new position in shares of Lineage, Inc. (NASDAQ:LINE) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 29,041 shares of the company’s stock, valued at approximately $1,703,000.

Several other large investors have also recently bought and sold shares of LINE. Cbre Investment Management Listed Real Assets LLC boosted its position in shares of Lineage by 10.5% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 602,803 shares of the company’s stock worth $35,306,000 after purchasing an additional 57,302 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Lineage by 130.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,070,915 shares of the company’s stock worth $62,723,000 after buying an additional 605,670 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Lineage by 16.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 175,000 shares of the company’s stock worth $10,250,000 after buying an additional 25,000 shares during the period. Mariner LLC acquired a new position in Lineage during the fourth quarter worth about $548,000. Finally, Rhumbline Advisers increased its holdings in Lineage by 7.3% in the fourth quarter. Rhumbline Advisers now owns 65,495 shares of the company’s stock valued at $3,836,000 after buying an additional 4,462 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LINE. Piper Sandler decreased their price target on Lineage from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Bank of America cut Lineage from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a research report on Tuesday, May 6th. UBS Group decreased their price objective on shares of Lineage from $62.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Barclays initiated coverage on shares of Lineage in a research note on Wednesday, April 9th. They issued an “overweight” rating and a $59.00 price objective on the stock. Finally, BNP Paribas cut shares of Lineage from a “hold” rating to a “strong sell” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $65.55.

Insider Buying and Selling

In other news, Chairman Adam Matthew Schwartz Forste acquired 10,949 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was acquired at an average cost of $44.93 per share, for a total transaction of $491,938.57. Following the acquisition, the chairman now directly owns 35,266 shares in the company, valued at approximately $1,584,501.38. This represents a 45.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Kevin Patrick Marchetti bought 11,500 shares of Lineage stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average price of $43.75 per share, for a total transaction of $503,125.00. Following the acquisition, the chairman now directly owns 27,733 shares of the company’s stock, valued at $1,213,318.75. The trade was a 70.84% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 26,869 shares of company stock valued at $1,194,980. Insiders own 71.90% of the company’s stock.

Lineage Trading Down 3.9%

Shares of LINE opened at $43.65 on Monday. Lineage, Inc. has a fifty-two week low of $41.88 and a fifty-two week high of $89.85. The company has a market capitalization of $9.98 billion and a PE ratio of -13.56. The stock has a fifty day moving average of $48.52 and a two-hundred day moving average of $55.10. 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 released its earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.34 billion. The firm’s revenue was down 2.7% compared to the same quarter last year. As a group, analysts forecast that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were issued a dividend of $0.5275 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 4.83%. Lineage’s payout ratio is currently -65.53%.

About Lineage

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.