Cinctive Capital Management LP Invests $2.40 Million in Lineage, Inc. (NASDAQ:LINE)

Cinctive Capital Management LP bought a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 41,006 shares of the company's stock, valued at approximately $2,402,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LINE. Norges Bank acquired a new position in shares of Lineage during the fourth quarter worth $681,572,000. Vanguard Group Inc. raised its position in Lineage by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company's stock worth $562,003,000 after purchasing an additional 408,526 shares during the last quarter. Wellington Management Group LLP acquired a new position in Lineage during the 3rd quarter worth about $265,895,000. Baillie Gifford & Co. grew its position in shares of Lineage by 80.8% in the 4th quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock valued at $181,484,000 after buying an additional 1,384,481 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Lineage by 36.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company's stock valued at $180,811,000 after buying an additional 831,533 shares during the period.

Analyst Ratings Changes

A number of equities analysts recently commented on LINE shares. Piper Sandler cut their price objective on Lineage from $90.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Scotiabank boosted their price target on shares of Lineage from $73.00 to $74.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 10th. 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 research report on Thursday, February 27th. The Goldman Sachs Group lowered their target price on shares of Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Finally, BNP Paribas began coverage on shares of Lineage in a research report on Tuesday, January 14th. They set a "neutral" rating and a $61.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lineage currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.67.

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Lineage Stock Down 2.5 %

LINE stock traded down $1.27 during trading on Tuesday, reaching $49.98. 442,942 shares of the stock were exchanged, compared to its average volume of 1,279,277. The firm's 50 day moving average is $58.13 and its 200 day moving average is $63.62. 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, Inc. has a twelve month low of $49.20 and a twelve month high of $89.85.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Monday, March 31st.

Insider Buying and Selling

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the transaction, the chairman now directly owns 24,317 shares in the company, valued at approximately $1,471,178.50. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 1.40% of the stock is owned by company 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.