Kevin Patrick Marchetti Acquires 14,500 Shares of Lineage (NASDAQ:LINE) Stock

Lineage, Inc. (NASDAQ:LINE) Chairman Kevin Patrick Marchetti acquired 14,500 shares of Lineage stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average cost of $33.72 per share, with a total value of $488,940.00. Following the completion of the acquisition, the chairman owned 89,168 shares of the company’s stock, valued at $3,006,744.96. The trade was a 19.42% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, August 19th, Kevin Patrick Marchetti bought 12,345 shares of Lineage stock. The stock was purchased at an average cost of $40.44 per share, for a total transaction of $499,231.80.

Lineage Trading Up 0.2%

Shares of LINE stock opened at $33.36 on Friday. The stock has a market cap of $7.63 billion, a P/E ratio of -42.23 and a beta of -0.19. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.76. Lineage, Inc. has a fifty-two week low of $32.80 and a fifty-two week high of $66.38. The business has a fifty day simple moving average of $39.42 and a 200-day simple moving average of $42.27.

Lineage (NASDAQ:LINE) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. Lineage had a negative net margin of 3.30% and a negative return on equity of 1.85%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the firm earned $0.90 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, analysts forecast that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Tuesday, September 30th were given a $0.5275 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.11 annualized dividend and a dividend yield of 6.3%. Lineage’s dividend payout ratio is currently -267.09%.

Analyst Upgrades and Downgrades

LINE has been the subject of several research reports. Wells Fargo & Company cut their price objective on Lineage from $48.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. Royal Bank Of Canada cut their price target on Lineage from $51.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday. JPMorgan Chase & Co. decreased their price objective on Lineage from $44.00 to $43.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 23rd. Piper Sandler reissued a “neutral” rating and issued a $41.00 target price (down previously from $55.00) on shares of Lineage in a research note on Thursday, November 6th. Finally, Truist Financial reduced their target price on shares of Lineage from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $46.33.

Hedge Funds Weigh In On Lineage

Several large investors have recently added to or reduced their stakes in LINE. Costello Asset Management INC purchased a new stake in Lineage in the 1st quarter valued at about $29,000. EverSource Wealth Advisors LLC boosted its position in shares of Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after acquiring an additional 362 shares during the last quarter. Signaturefd LLC grew its holdings in Lineage by 132.3% in the second quarter. Signaturefd LLC now owns 648 shares of the company’s stock valued at $28,000 after purchasing an additional 369 shares during the period. Jones Financial Companies Lllp increased its position in Lineage by 82.2% during the third quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Lineage by 170.4% during the first quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock worth $43,000 after purchasing an additional 460 shares during the period.

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.