Kevin Patrick Marchetti Acquires 13,300 Shares of Lineage (NASDAQ:LINE) Stock

Lineage, Inc. (NASDAQ:LINE) Chairman Kevin Patrick Marchetti purchased 13,300 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was bought at an average cost of $37.50 per share, for a total transaction of $498,750.00. Following the acquisition, the chairman directly owned 113,690 shares of the company’s stock, valued at $4,263,375. This represents a 13.25% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Kevin Patrick Marchetti also recently made the following trade(s):

• On Monday, March 9th, Kevin Patrick Marchetti bought 11,222 shares of Lineage stock. The stock was purchased at an average price of $39.05 per share, with a total value of $438,219.10.

Lineage Stock Up 3.6%

NASDAQ:LINE opened at $38.60 on Wednesday. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of -89.77 and a beta of -0.42. Lineage, Inc. has a 1-year low of $32.46 and a 1-year high of $61.01. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. The business’s fifty day moving average price is $37.63 and its 200 day moving average price is $37.68.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.70). Lineage had a negative return on equity of 1.06% and a negative net margin of 1.87%.The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. Lineage’s revenue was down .2% on a year-over-year basis. On average, sell-side analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, March 31st will be issued a $0.5325 dividend. This is a boost from Lineage’s previous quarterly dividend of $0.53. This represents a $2.13 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Tuesday, March 31st. Lineage’s dividend payout ratio is currently -490.70%.

Analyst Upgrades and Downgrades

LINE has been the topic of several recent analyst reports. Wall Street Zen lowered Lineage from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. The Goldman Sachs Group lowered their price objective on shares of Lineage from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Zacks Research upgraded shares of Lineage from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Truist Financial increased their price target on shares of Lineage from $41.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Finally, Robert W. Baird restated a “neutral” rating and issued a $39.00 price target (down from $45.00) on shares of Lineage in a research report on Thursday, December 18th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Lineage has an average rating of “Hold” and an average price target of $43.18.

Institutional Investors Weigh In On Lineage

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Lineage in the 2nd quarter valued at approximately $606,642,000. Darlington Partners Capital Management LP grew its holdings in Lineage by 45.5% during the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock valued at $198,332,000 after purchasing an additional 1,605,810 shares during the period. Morgan Stanley increased its stake in Lineage by 378.6% in the fourth quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock valued at $175,607,000 after purchasing an additional 3,968,958 shares in the last quarter. Capital Research Global Investors raised its holdings in Lineage by 4.0% in the third quarter. Capital Research Global Investors now owns 3,152,949 shares of the company’s stock worth $121,830,000 after purchasing an additional 120,616 shares during the period. Finally, State Street Corp raised its holdings in Lineage by 8.9% in the second quarter. State Street Corp now owns 1,780,270 shares of the company’s stock worth $78,402,000 after purchasing an additional 145,742 shares during the period.

Lineage Company Profile

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.