Daiwa Securities Group Inc. Grows Holdings in Lineage, Inc. (NASDAQ:LINE)

Daiwa Securities Group Inc. raised its stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 130.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,070,915 shares of the company's stock after purchasing an additional 605,670 shares during the quarter. Daiwa Securities Group Inc. owned 0.47% of Lineage worth $62,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its position in Lineage by 1.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company's stock valued at $595,000 after purchasing an additional 185 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Lineage by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company's stock valued at $1,740,000 after purchasing an additional 291 shares during the last quarter. US Bancorp DE bought a new stake in Lineage during the third quarter valued at approximately $25,000. Larson Financial Group LLC bought a new stake in Lineage during the third quarter valued at approximately $34,000. Finally, M&T Bank Corp lifted its position in Lineage by 9.7% during the fourth quarter. M&T Bank Corp now owns 4,987 shares of the company's stock valued at $292,000 after purchasing an additional 439 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LINE. BNP Paribas began coverage on shares of Lineage in a report on Tuesday, January 14th. They issued a "neutral" rating and a $61.00 price objective for the company. The Goldman Sachs Group lowered their price objective on shares of Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a report on Friday, January 17th. Scotiabank boosted their price objective on shares of Lineage from $73.00 to $74.00 and gave the stock a "sector outperform" rating in a report on Monday. JPMorgan Chase & Co. lowered shares of Lineage from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $78.00 to $75.00 in a report on Friday, December 20th. Finally, Robert W. Baird lowered their price objective on shares of Lineage from $76.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $82.06.

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Lineage Trading Down 0.7 %

Lineage stock traded down $0.42 during mid-day trading on Wednesday, reaching $57.77. 885,835 shares of the company traded hands, compared to its average volume of 996,871. 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 firm's 50 day moving average price is $57.99 and its 200 day moving average price is $66.94. Lineage, Inc. has a 52-week low of $52.75 and a 52-week high of $89.85.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of Lineage stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the transaction, the chairman now directly owns 24,317 shares of the company's stock, valued at $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company's stock.

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.