Lineage (NASDAQ:LINE) Sees Unusually-High Trading Volume - Should You Buy?

Lineage, Inc. (NASDAQ:LINE - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 2,772,609 shares were traded during trading, an increase of 192% from the previous session's volume of 951,083 shares.The stock last traded at $60.32 and had previously closed at $59.66.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Royal Bank of Canada reduced their target price on Lineage from $94.00 to $81.00 and set an "outperform" rating for the company in a report on Wednesday, November 13th. The Goldman Sachs Group reduced 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. Robert W. Baird lowered their target price on shares of Lineage from $76.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Scotiabank dropped their target price on shares of Lineage from $76.00 to $73.00 and set a "sector outperform" rating for the company in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. downgraded shares of Lineage from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. Seven 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $82.41.

Remove Ads

Lineage Stock Performance

The stock's 50-day simple moving average is $57.77 and its 200 day simple moving average is $68.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95.

Lineage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st were paid a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Tuesday, December 31st.

Insider Transactions at Lineage

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the acquisition, the chairman now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company's stock.

Hedge Funds Weigh In On Lineage

Institutional investors have recently bought and sold shares of the company. US Bancorp DE purchased a new position in shares of Lineage in the third quarter valued at approximately $25,000. Larson Financial Group LLC acquired a new position in shares of Lineage in the third quarter worth $34,000. GAMMA Investing LLC grew its stake in shares of Lineage by 7,466.7% in the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $27,000 after acquiring an additional 448 shares in the last quarter. FIL Ltd purchased a new stake in shares of Lineage during the fourth quarter worth $29,000. Finally, Quarry LP acquired a new stake in shares of Lineage in the fourth quarter valued at $50,000.

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.