Lineage, Inc. (NASDAQ:LINE) Chairman Acquires $1,471,178.50 in Stock

Lineage, Inc. (NASDAQ:LINE - Get Free Report) 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 price of $60.50 per share, for a total transaction 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. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lineage Trading Up 0.6 %

LINE stock traded up $0.35 during midday trading on Friday, hitting $61.35. The company's stock had a trading volume of 391,991 shares, compared to its average volume of 969,696. The company's fifty day moving average price is $57.91 and its 200 day moving average price is $67.75. 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 $52.75 and a twelve month high of $89.85.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st were paid a $0.5275 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.11 annualized dividend and a dividend yield of 3.44%.

Institutional Trading of Lineage

Several institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased 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 worth $595,000 after acquiring an additional 185 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Lineage by 1.0% in 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 buying an additional 291 shares during the period. US Bancorp DE bought a new position in Lineage during the 3rd quarter worth $25,000. Nissay Asset Management Corp Japan ADV lifted its position in Lineage by 4.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 8,910 shares of the company's stock worth $526,000 after purchasing an additional 340 shares during the period. Finally, Larson Financial Group LLC bought a new position in Lineage in the third quarter valued at approximately $34,000.

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Wall Street Analyst Weigh In

LINE has been the topic of several research reports. Evercore ISI dropped their price objective on shares of Lineage from $88.00 to $78.00 and set an "in-line" rating on the stock in a research note on Thursday, November 7th. Piper Sandler cut their price objective on Lineage from $90.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Mizuho reduced their price target on Lineage from $86.00 to $67.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Scotiabank cut their price objective on shares of Lineage from $76.00 to $73.00 and set a "sector outperform" rating on the stock in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group decreased 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. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $82.00.

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.