BNP Paribas Financial Markets Sells 9,752 Shares of Lineage, Inc. (NASDAQ:LINE)

BNP Paribas Financial Markets trimmed its holdings in shares of Lineage, Inc. (NASDAQ:LINE) by 25.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,431 shares of the company’s stock after selling 9,752 shares during the period. BNP Paribas Financial Markets’ holdings in Lineage were worth $1,665,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. FIL Ltd bought a new stake in shares of Lineage during the fourth quarter worth approximately $29,000. Quarry LP bought a new stake in shares of Lineage during the fourth quarter worth approximately $50,000. Stifel Financial Corp grew its holdings in Lineage by 30.5% during the fourth quarter. Stifel Financial Corp now owns 3,509 shares of the company’s stock valued at $206,000 after purchasing an additional 821 shares during the period. Franklin Resources Inc. acquired a new position in Lineage during the fourth quarter valued at approximately $208,000. Finally, Sterling Capital Management LLC grew its holdings in Lineage by 61.8% during the fourth quarter. Sterling Capital Management LLC now owns 3,703 shares of the company’s stock valued at $217,000 after purchasing an additional 1,415 shares during the period.

Lineage Stock Performance

Shares of LINE opened at $47.63 on Monday. Lineage, Inc. has a 12 month low of $42.05 and a 12 month high of $89.85. The firm has a fifty day simple moving average of $53.69 and a 200 day simple moving average of $58.07. The stock has a market capitalization of $10.89 billion and a price-to-earnings ratio of -14.79. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

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

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were issued a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 4.43%. The ex-dividend date was Monday, March 31st. Lineage’s payout ratio is -65.53%.

Insider Buying and Selling

In other Lineage news, Chairman Kevin Patrick Marchetti bought 11,500 shares of Lineage stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average price of $43.75 per share, for a total transaction of $503,125.00. Following the completion of the acquisition, the chairman now owns 27,733 shares of the company’s stock, valued at $1,213,318.75. This trade represents a 70.84% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Adam Matthew Schwartz Forste bought 10,949 shares of Lineage stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average price of $44.93 per share, with a total value of $491,938.57. Following the acquisition, the chairman now directly owns 35,266 shares of the company’s stock, valued at $1,584,501.38. The trade was a 45.03% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 51,186 shares of company stock worth $2,666,159. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

LINE has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price objective on shares of Lineage from $74.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Robert W. Baird decreased their price objective on shares of Lineage from $70.00 to $64.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Piper Sandler decreased their price objective on shares of Lineage from $75.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Bank of America cut shares of Lineage from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a report on Tuesday, May 6th. Finally, UBS Group decreased their price objective on shares of Lineage from $62.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.74.

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.