Burkehill Global Management LP Invests $26.36 Million in Lineage, Inc. (NASDAQ:LINE)

Burkehill Global Management LP purchased a new stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 450,000 shares of the company's stock, valued at approximately $26,356,000. Lineage accounts for approximately 2.5% of Burkehill Global Management LP's portfolio, making the stock its 8th largest holding. Burkehill Global Management LP owned approximately 0.20% of Lineage as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. US Bancorp DE acquired a new stake in Lineage during the third quarter worth about $25,000. Janney Montgomery Scott LLC acquired a new stake in Lineage during the third quarter valued at approximately $781,000. Amalgamated Bank bought a new stake in shares of Lineage in the 3rd quarter valued at approximately $255,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Lineage in the 3rd quarter worth approximately $2,145,000. Finally, Baillie Gifford & Co. bought a new position in shares of Lineage during the 3rd quarter worth approximately $134,351,000.

Lineage Trading Up 3.2 %

NASDAQ:LINE traded up $1.80 on Friday, reaching $58.58. The company's stock had a trading volume of 918,781 shares, compared to its average volume of 994,737. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The business's 50-day moving average price is $57.94 and its two-hundred day moving average price is $66.81. Lineage, Inc. has a 1-year low of $52.75 and a 1-year high of $89.85.

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Analyst Upgrades and Downgrades

Several research firms have issued reports on LINE. The Goldman Sachs Group dropped their price objective on Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Mizuho cut their price target on shares of Lineage from $86.00 to $67.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada decreased their price objective on shares of Lineage from $81.00 to $74.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. BNP Paribas assumed coverage on Lineage in a report on Tuesday, January 14th. They set a "neutral" rating and a $61.00 price target for the company. Finally, Piper Sandler cut 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. Seven equities 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 data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $82.06.

Insider Transactions at Lineage

In other news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the company's stock in a transaction on Friday, February 28th. The shares were 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 directly owns 24,317 shares of the company's stock, valued at $1,471,178.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by insiders.

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.