Lineage, Inc. (NASDAQ:LINE) Chairman Adam Matthew Schwartz Forste Purchases 24,317 Shares

Lineage, Inc. (NASDAQ:LINE) Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $60.50 per share, for a total transaction 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. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lineage Stock Performance

NASDAQ:LINE opened at $59.97 on Tuesday. The stock has a 50-day moving average price of $57.74 and a 200 day moving average price of $68.18. Lineage, Inc. has a 12-month low of $52.75 and a 12-month high of $89.85. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Tuesday, December 31st.

Hedge Funds Weigh In On Lineage

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE bought a new position in shares of Lineage during the 3rd quarter valued at about $25,000. Larson Financial Group LLC bought a new stake in Lineage in the 3rd quarter worth approximately $34,000. GAMMA Investing LLC raised its holdings in shares of Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after acquiring an additional 448 shares in the last quarter. FIL Ltd bought a new position in shares of Lineage during the 4th quarter valued at approximately $29,000. Finally, Quarry LP purchased a new position in shares of Lineage in the fourth quarter valued at $50,000.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LINE. Robert W. Baird lowered their price objective 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. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $78.00 to $75.00 in a report on Friday, December 20th. Mizuho cut their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Piper Sandler reduced their price objective on Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Royal Bank of Canada dropped their target price on Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lineage currently has an average rating of “Moderate Buy” and a consensus price target of $82.41.

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.