Lineage, Inc. $LINE Shares Sold by Amundi

Amundi lowered its position in shares of Lineage, Inc. (NASDAQ:LINE) by 29.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 35,816 shares of the company’s stock after selling 15,125 shares during the quarter. Amundi’s holdings in Lineage were worth $2,020,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV lifted its position in Lineage by 4.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 8,910 shares of the company’s stock worth $526,000 after acquiring an additional 340 shares during the period. State of Alaska Department of Revenue lifted its position in Lineage by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 30,095 shares of the company’s stock worth $1,764,000 after acquiring an additional 371 shares during the period. PNC Financial Services Group Inc. lifted its position in Lineage by 170.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock worth $43,000 after acquiring an additional 460 shares during the period. Costello Asset Management INC acquired a new stake in Lineage during the 1st quarter worth about $29,000. Finally, Aberdeen Group plc lifted its position in Lineage by 3.6% during the 1st quarter. Aberdeen Group plc now owns 16,568 shares of the company’s stock worth $971,000 after acquiring an additional 580 shares during the period.

Insider Activity at Lineage

In other news, Chairman Kevin Patrick Marchetti acquired 12,345 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was bought at an average cost of $40.44 per share, for a total transaction of $499,231.80. Following the purchase, the chairman owned 74,668 shares in the company, valued at approximately $3,019,573.92. This represents a 19.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sudarsan V. Thattai acquired 3,563 shares of the business’s stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $42.45 per share, with a total value of $151,249.35. Following the completion of the purchase, the insider 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. Over the last quarter, insiders have acquired 39,448 shares of company stock valued at $1,645,752. 71.90% of the stock is owned by company insiders.

Lineage Stock Performance

NASDAQ LINE opened at $42.39 on Friday. The stock has a market capitalization of $9.70 billion, a price-to-earnings ratio of -15.19 and a beta of -0.22. Lineage, Inc. has a twelve month low of $38.83 and a twelve month high of $84.86. The company has a current ratio of 0.96, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average of $41.90 and a 200 day moving average of $47.95.

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

Lineage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 5.0%. Lineage’s dividend payout ratio (DPR) is currently -75.63%.

Wall Street Analyst Weigh In

A number of brokerages have commented on LINE. BNP Paribas set a $42.00 price target on Lineage in a research report on Thursday, June 12th. Truist Financial decreased their price objective on Lineage from $60.00 to $53.00 and set a “buy” rating for the company in a report on Friday, August 22nd. The Goldman Sachs Group decreased their price objective on Lineage from $57.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, August 12th. UBS Group decreased their price objective on Lineage from $49.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company decreased their price objective on Lineage from $48.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th. 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $52.79.

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.