Lineage, Inc. (NASDAQ:LINE) Chairman Buys $1,471,178.50 in Stock

Lineage, Inc. (NASDAQ:LINE) Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the business’s stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the purchase, the chairman now directly owns 24,317 shares in the company, valued at approximately $1,471,178.50. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lineage Price Performance

Shares of Lineage stock opened at $61.72 on Thursday. The business has a 50-day moving average of $57.80 and a 200 day moving average of $67.84. Lineage, Inc. has a 12 month low of $52.75 and a 12 month high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st were paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Tuesday, December 31st.

Analyst Ratings Changes

A number of brokerages have issued reports on LINE. Scotiabank cut their target price on Lineage from $76.00 to $73.00 and set a “sector outperform” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada cut their target price on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Robert W. Baird lowered their price target on Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $78.00 to $75.00 in a report on Friday, December 20th. Finally, BNP Paribas assumed coverage on Lineage in a report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.41.

Hedge Funds Weigh In On Lineage

Several hedge funds and other institutional investors have recently made changes to their positions in LINE. abrdn plc purchased a new position in shares of Lineage in the 3rd quarter valued at about $1,000,000. US Bancorp DE purchased a new position in shares of Lineage in the 3rd quarter valued at about $25,000. Janney Montgomery Scott LLC purchased a new position in shares of Lineage in the 3rd quarter valued at about $781,000. Van ECK Associates Corp purchased a new position in shares of Lineage in the 3rd quarter valued at about $833,000. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Lineage in the 3rd quarter valued at about $6,595,000.

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.