Stevens Capital Management LP Makes New Investment in Lineage, Inc. (NASDAQ:LINE)

Stevens Capital Management LP bought a new position in shares of Lineage, Inc. (NASDAQ:LINE) in the 4th quarter, HoldingsChannel reports. The fund bought 23,086 shares of the company’s stock, valued at approximately $1,352,000.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Lineage by 7,466.7% during the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after buying an additional 448 shares during the period. Larson Financial Group LLC purchased a new position in Lineage during the third quarter worth about $34,000. Stifel Financial Corp purchased a new position in Lineage during the third quarter worth about $211,000. MetLife Investment Management LLC purchased a new position in Lineage during the third quarter worth about $226,000. Finally, M&T Bank Corp boosted its stake in Lineage by 9.7% during the fourth quarter. M&T Bank Corp now owns 4,987 shares of the company’s stock worth $292,000 after buying an additional 439 shares during the period.

Insider Activity at Lineage

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the purchase, the chairman now owns 24,317 shares of the company’s stock, valued at $1,471,178.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LINE. BNP Paribas assumed coverage on shares of Lineage in a research note on Tuesday, January 14th. They set a “neutral” rating and a $61.00 target price for the company. Robert W. Baird reduced their price target on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Mizuho reduced their price target on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada reduced their price target on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, Piper Sandler reduced their price target on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

Lineage Stock Performance

NASDAQ:LINE opened at $58.40 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Lineage, Inc. has a 52-week low of $52.75 and a 52-week high of $89.85. The stock has a fifty day simple moving average of $58.23 and a 200-day simple moving average of $65.66.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, March 31st.

Lineage Profile

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.