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

Lineage, Inc. (NASDAQ:LINE) Chairman Kevin Patrick Marchetti purchased 13,300 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was acquired at an average price of $37.50 per share, with a total value of $498,750.00. Following the purchase, the chairman directly owned 113,690 shares of the company’s stock, valued at approximately $4,263,375. The trade was a 13.25% increase in their ownership of the stock. The acquisition 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 Monday, March 9th, Kevin Patrick Marchetti acquired 11,222 shares of Lineage stock. The shares were acquired at an average cost of $39.05 per share, for a total transaction of $438,219.10.

Lineage Price Performance

NASDAQ LINE opened at $37.25 on Tuesday. Lineage, Inc. has a one year low of $32.46 and a one year high of $61.01. The stock has a 50-day moving average of $37.58 and a 200 day moving average of $37.70. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of -86.63 and a beta of -0.43. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.71 and a current ratio of 0.80.

Lineage (NASDAQ:LINE) last posted its earnings results 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). The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.38 billion. Lineage had a negative net margin of 1.87% and a negative return on equity of 1.06%. Lineage’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 EPS. On average, sell-side analysts forecast that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, March 31st will be given a dividend of $0.5325 per share. This represents a $2.13 dividend on an annualized basis and a yield of 5.7%. This is a positive change from Lineage’s previous quarterly dividend of $0.53. The ex-dividend date is Tuesday, March 31st. Lineage’s payout ratio is currently -490.70%.

Institutional Trading of Lineage

Several large investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp raised its position in Lineage by 82.2% in the third quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after acquiring an additional 300 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Lineage by 1.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,626 shares of the company’s stock valued at $874,000 after acquiring an additional 350 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Lineage by 172.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after purchasing an additional 362 shares in the last quarter. Allworth Financial LP increased its stake in shares of Lineage by 106.6% in the 4th quarter. Allworth Financial LP now owns 940 shares of the company’s stock worth $33,000 after purchasing an additional 485 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Lineage by 33.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,005 shares of the company’s stock worth $70,000 after purchasing an additional 502 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $39.00 target price (down from $45.00) on shares of Lineage in a research report on Thursday, December 18th. Wells Fargo & Company increased their price target on Lineage from $32.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Lineage in a research note on Monday, December 29th. The Goldman Sachs Group cut their price objective on Lineage from $50.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, November 25th. Finally, Morgan Stanley cut their price objective on Lineage from $46.00 to $39.00 and set an “equal weight” rating for the company in a report on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.18.

About Lineage

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.