Alliancebernstein L.P. Has $6.21 Million Holdings in Lineage, Inc. (NASDAQ:LINE)

Alliancebernstein L.P. decreased its holdings in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 84.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,058 shares of the company's stock after selling 594,871 shares during the period. Alliancebernstein L.P.'s holdings in Lineage were worth $6,212,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. acquired a new stake in shares of Lineage during the 3rd quarter valued at approximately $12,542,000. Principal Financial Group Inc. acquired a new stake in Lineage in the 3rd quarter valued at about $173,115,000. Renaissance Capital LLC increased its holdings in Lineage by 25.6% during the 4th quarter. Renaissance Capital LLC now owns 83,446 shares of the company's stock valued at $4,887,000 after acquiring an additional 16,990 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its position in Lineage by 10.5% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 602,803 shares of the company's stock worth $35,306,000 after acquiring an additional 57,302 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Lineage by 7,466.7% in the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company's stock valued at $27,000 after purchasing an additional 448 shares in the last quarter.

Wall Street Analyst Weigh In

LINE has been the subject of several research reports. Citigroup began coverage on Lineage in a research report on Friday, March 28th. They set a "neutral" rating and a $64.00 price objective for the company. Scotiabank reaffirmed a "sector perform" rating and set a $56.00 price target (down from $74.00) on shares of Lineage in a research note on Thursday, April 10th. Morgan Stanley cut their price objective on shares of Lineage from $80.00 to $75.00 and set an "overweight" rating for the company in a research report on Tuesday, April 1st. BNP Paribas initiated coverage on shares of Lineage in a research report on Tuesday, January 14th. They set a "neutral" rating and a $61.00 target price on the stock. Finally, Robert W. Baird lowered their target price on shares of Lineage from $76.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Nine investment 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $77.63.

Remove Ads

Insider Activity at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of Lineage stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the transaction, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.

Lineage Price Performance

NASDAQ:LINE traded up $0.88 during mid-day trading on Wednesday, hitting $54.88. The stock had a trading volume of 487,918 shares, compared to its average volume of 1,272,198. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The company has a 50 day simple moving average of $57.10 and a 200-day simple moving average of $62.35. Lineage, Inc. has a 52 week low of $46.63 and a 52 week high of $89.85.

Lineage Dividend Announcement

The firm 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 $0.5275 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 3.84%.

Lineage Company 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.