Graham Capital Management L.P. Invests $247,000 in Lineage, Inc. (NASDAQ:LINE)

Graham Capital Management L.P. acquired a new stake in shares of Lineage, Inc. (NASDAQ:LINE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,220 shares of the company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fairview Capital Investment Management LLC purchased a new stake in shares of Lineage in the fourth quarter worth $11,768,000. Darlington Partners Capital Management LP bought a new stake in shares of Lineage in the 4th quarter worth about $90,491,000. DigitalBridge Group Inc. bought a new stake in shares of Lineage in the 4th quarter worth about $5,195,000. Ameriprise Financial Inc. lifted its holdings in shares of Lineage by 35.6% in the 4th quarter. Ameriprise Financial Inc. now owns 84,805 shares of the company’s stock worth $4,967,000 after acquiring an additional 22,265 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in Lineage by 70.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,196,848 shares of the company’s stock valued at $70,099,000 after buying an additional 492,680 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LINE. UBS Group cut their target price on shares of Lineage from $62.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group dropped their target price on shares of Lineage from $74.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Evercore ISI dropped their target price on shares of Lineage from $68.00 to $59.00 and set an “in-line” rating on the stock in a research report on Thursday, May 1st. Citigroup began coverage on shares of Lineage in a research note on Friday, March 28th. They set a “neutral” rating and a $64.00 price objective for the company. Finally, Scotiabank decreased their target price on shares of Lineage from $56.00 to $50.00 and set a “sector perform” rating for the company in a research note on Thursday. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.74.

Lineage Price Performance

NASDAQ:LINE opened at $47.63 on Monday. The business’s 50-day moving average price is $53.69 and its 200 day moving average price is $58.07. The firm has a market cap of $10.89 billion and a P/E ratio of -14.79. Lineage, Inc. has a 52-week low of $42.05 and a 52-week high of $89.85. 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 (NASDAQ:LINE) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.34 billion. The business’s revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts predict that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were paid a $0.5275 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 4.43%. Lineage’s dividend payout ratio is currently -65.53%.

Insider Buying and Selling

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired 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 represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sudarsan V. Thattai acquired 4,420 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average cost of $45.23 per share, for a total transaction of $199,916.60. Following the purchase, the insider now directly owns 4,420 shares in the company, valued at $199,916.60. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 51,186 shares of company stock worth $2,666,159 in the last three months. Insiders own 1.40% of the company’s stock.

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.