Lineage, Inc. $LINE Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its holdings in shares of Lineage, Inc. (NASDAQ:LINE) by 1,396.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 230,847 shares of the company’s stock after buying an additional 215,423 shares during the period. American Century Companies Inc. owned approximately 0.10% of Lineage worth $13,535,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. XTX Topco Ltd boosted its stake in shares of Lineage by 419.2% during the first quarter. XTX Topco Ltd now owns 30,733 shares of the company’s stock worth $1,802,000 after buying an additional 24,814 shares during the period. Lunate Capital Ltd acquired a new stake in shares of Lineage during the first quarter worth about $35,178,000. GAMMA Investing LLC boosted its stake in shares of Lineage by 3,141.4% during the first quarter. GAMMA Investing LLC now owns 14,716 shares of the company’s stock worth $863,000 after buying an additional 14,262 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Lineage by 8.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 566,040 shares of the company’s stock worth $33,187,000 after acquiring an additional 43,242 shares during the period. Finally, M&T Bank Corp lifted its stake in shares of Lineage by 174.5% in the 1st quarter. M&T Bank Corp now owns 13,690 shares of the company’s stock worth $803,000 after acquiring an additional 8,703 shares during the period.

Lineage Stock Up 3.7%

Shares of NASDAQ LINE opened at $41.77 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72. Lineage, Inc. has a 52 week low of $38.83 and a 52 week high of $86.60. The firm has a 50-day moving average price of $42.70 and a 200 day moving average price of $49.15. The stock has a market capitalization of $9.56 billion and a price-to-earnings ratio of -14.97.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. Lineage had a negative net margin of 10.57% and a negative return on equity of 5.76%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were paid a $0.5275 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.11 annualized dividend and a dividend yield of 5.1%. Lineage’s dividend payout ratio (DPR) is -75.63%.

Insider Activity

In other Lineage news, Chairman Kevin Patrick Marchetti bought 23,540 shares of the company’s stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $42.28 per share, for a total transaction of $995,271.20. Following the acquisition, the chairman owned 62,323 shares of the company’s stock, valued at $2,635,016.44. The trade was a 60.70% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sudarsan V. Thattai bought 3,563 shares of the company’s stock in a transaction on Friday, August 8th. The shares were acquired at an average price of $42.45 per share, with a total value of $151,249.35. Following the completion of the acquisition, the insider directly owned 7,983 shares in the company, valued at $338,878.35. This represents a 80.61% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 39,448 shares of company stock valued at $1,645,752 over the last 90 days. 71.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on LINE. Barclays reduced their target price on shares of Lineage from $59.00 to $52.00 and set an “overweight” rating for the company in a research note on Monday, July 21st. JPMorgan Chase & Co. cut shares of Lineage from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $55.00 to $50.00 in a research note on Monday, June 23rd. BNP Paribas set a $42.00 target price on shares of Lineage in a research note on Thursday, June 12th. Piper Sandler reduced their target price on shares of Lineage from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Finally, Scotiabank reduced their target price on shares of Lineage from $56.00 to $50.00 and set a “sector perform” rating for the company in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $53.53.

Lineage Company 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.