GAMMA Investing LLC Acquires 14,262 Shares of Lineage, Inc. (NASDAQ:LINE)

GAMMA Investing LLC boosted its stake in Lineage, Inc. (NASDAQ:LINE) by 3,141.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,716 shares of the company’s stock after purchasing an additional 14,262 shares during the quarter. GAMMA Investing LLC’s holdings in Lineage were worth $863,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Van ECK Associates Corp boosted its stake in shares of Lineage by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 11,759 shares of the company’s stock worth $689,000 after buying an additional 1,089 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of Lineage by 6.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 89,566 shares of the company’s stock worth $5,284,000 after buying an additional 5,429 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Lineage by 47.4% in the fourth quarter. Vontobel Holding Ltd. now owns 19,287 shares of the company’s stock valued at $1,130,000 after acquiring an additional 6,200 shares during the last quarter. Rhumbline Advisers increased its stake 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 acquiring an additional 4,462 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in Lineage in the fourth quarter valued at $447,000.

Lineage Stock Up 1.0%

Shares of NASDAQ LINE opened at $44.12 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $10.09 billion and a PE ratio of -13.70. Lineage, Inc. has a 12-month low of $41.88 and a 12-month high of $89.85. The stock’s fifty day simple moving average is $48.20 and its two-hundred day simple moving average is $54.88.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Lineage had a negative return on equity of 7.24% and a negative net margin of 11.88%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, analysts expect that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley cut their price objective on Lineage from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 1st. BNP Paribas set a $42.00 price target on Lineage in a report on Thursday, June 12th. Bank of America cut Lineage from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research report on Tuesday, May 6th. BNP Paribas Exane cut Lineage from a “neutral” rating to an “underperform” rating and set a $42.00 price target for the company. in a research report on Thursday, June 12th. Finally, The Goldman Sachs Group dropped their price objective on Lineage from $74.00 to $63.00 and set a “buy” rating for the company in a research note on Wednesday, May 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $64.60.

Insider Activity at Lineage

In other news, insider Sudarsan V. Thattai purchased 4,420 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were bought at an average cost of $45.23 per share, for a total transaction of $199,916.60. Following the completion of the purchase, the insider now directly owns 4,420 shares of the company’s stock, valued at approximately $199,916.60. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Adam Matthew Schwartz Forste acquired 10,949 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were bought at an average cost of $44.93 per share, for a total transaction of $491,938.57. Following the transaction, the chairman now directly owns 35,266 shares of the company’s stock, valued at approximately $1,584,501.38. This trade represents a 45.03% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 26,869 shares of company stock worth $1,194,980 in the last 90 days. Corporate insiders own 71.90% of the company’s stock.

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.