Lineage, Inc. $LINE Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lowered its holdings in Lineage, Inc. (NASDAQ:LINE) by 22.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,715 shares of the company’s stock after selling 12,021 shares during the quarter. Allianz Asset Management GmbH’s holdings in Lineage were worth $1,772,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Lineage by 75.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company’s stock valued at $255,903,000 after acquiring an additional 1,880,587 shares during the period. Nuveen LLC purchased a new position in Lineage during the first quarter worth approximately $37,468,000. Lunate Capital Ltd purchased a new position in Lineage during the first quarter worth approximately $35,178,000. American Century Companies Inc. grew its holdings in Lineage by 1,396.7% in the first quarter. American Century Companies Inc. now owns 230,847 shares of the company’s stock valued at $13,535,000 after purchasing an additional 215,423 shares during the period. Finally, Millennium Management LLC increased its position in shares of Lineage by 197.0% in the first quarter. Millennium Management LLC now owns 288,518 shares of the company’s stock valued at $16,916,000 after buying an additional 191,362 shares in the last quarter.

Lineage Price Performance

Shares of LINE stock opened at $40.68 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.96 and a quick ratio of 0.83. The company has a market capitalization of $9.31 billion, a PE ratio of -14.58 and a beta of -0.23. The firm’s 50-day moving average is $40.44 and its two-hundred day moving average is $44.01. Lineage, Inc. has a 12 month low of $36.66 and a 12 month high of $78.61.

Lineage (NASDAQ:LINE) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. The business’s quarterly revenue was up .9% compared to the same quarter last year. Analysts predict that Lineage, Inc. will post 2.34 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Tuesday, September 30th were given a dividend of $0.5275 per share. The ex-dividend date was Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.2%. Lineage’s payout ratio is -75.63%.

Insider Transactions at Lineage

In related news, Chairman Kevin Patrick Marchetti acquired 12,345 shares of Lineage stock in a transaction on Tuesday, August 19th. The stock was purchased at an average cost of $40.44 per share, with a total value of $499,231.80. Following the purchase, the chairman directly owned 74,668 shares in the company, valued at approximately $3,019,573.92. The trade was a 19.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sudarsan V. Thattai bought 3,563 shares of the stock in a transaction on Friday, August 8th. The stock was bought at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the purchase, the insider directly owned 7,983 shares in the company, valued at approximately $338,878.35. The trade was a 80.61% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 39,448 shares of company stock worth $1,645,752 in the last quarter. Insiders own 71.90% of the company’s stock.

Analyst Upgrades and Downgrades

LINE has been the topic of several research reports. The Goldman Sachs Group decreased their target price on Lineage from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Scotiabank decreased their price objective on Lineage from $49.00 to $43.00 and set a “sector perform” rating on the stock in a report on Friday, September 5th. JPMorgan Chase & Co. dropped their target price on shares of Lineage from $44.00 to $43.00 and set an “underweight” rating for the company in a report on Tuesday, September 23rd. KeyCorp reiterated a “sector weight” rating and issued a $84.00 target price on shares of Lineage in a research report on Tuesday, July 1st. Finally, Bank of America reissued an “underperform” rating and issued a $42.00 price target (down from $47.00) on shares of Lineage in a research note on Monday, August 11th. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, Lineage has a consensus rating of “Hold” and an average target price of $49.61.

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.