Cinctive Capital Management LP Acquires Shares of 41,006 Lineage, Inc. (NASDAQ:LINE)

Cinctive Capital Management LP bought a new stake in shares of Lineage, Inc. (NASDAQ:LINE) in the fourth quarter, Holdings Channel reports. The firm bought 41,006 shares of the company’s stock, valued at approximately $2,402,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Charles Schwab Investment Management Inc. purchased a new stake in shares of Lineage during the third quarter worth $13,786,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Lineage during the 3rd quarter worth about $2,612,000. Quantbot Technologies LP acquired a new stake in shares of Lineage during the 3rd quarter valued at about $323,000. BNP Paribas Financial Markets bought a new stake in shares of Lineage in the 3rd quarter valued at approximately $2,993,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Lineage in the 3rd quarter valued at approximately $226,000.

Lineage Stock Up 2.8 %

Shares of NASDAQ LINE opened at $58.53 on Thursday. Lineage, Inc. has a one year low of $52.75 and a one year 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. The business has a fifty day simple moving average of $58.48 and a 200 day simple moving average of $64.35.

Lineage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Monday, March 31st.

Insider Activity

In related news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the acquisition, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on LINE shares. Royal Bank of Canada cut their price objective 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. Mizuho cut their price target on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird decreased their price objective on shares of 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. lowered Lineage from an “overweight” rating to a “neutral” rating and cut their target price for the company from $78.00 to $75.00 in a report on Friday, December 20th. Finally, Citigroup began coverage on Lineage in a research note on Friday, March 28th. They set a “neutral” rating and a $64.00 price target for the company. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.67.

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.