310,000 Shares in Lineage, Inc. (NASDAQ:LINE) Acquired by Seven Grand Managers LLC

Seven Grand Managers LLC purchased a new position in Lineage, Inc. (NASDAQ:LINE - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 310,000 shares of the company's stock, valued at approximately $24,298,000. Lineage makes up 5.5% of Seven Grand Managers LLC's holdings, making the stock its 2nd largest holding. Seven Grand Managers LLC owned 0.13% of Lineage as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Lineage during the 3rd quarter valued at about $3,582,000. Vontobel Holding Ltd. bought a new position in shares of Lineage during the 3rd quarter valued at about $1,026,000. Renaissance Capital LLC bought a new position in shares of Lineage during the 3rd quarter valued at about $5,209,000. Perpetual Ltd bought a new position in shares of Lineage during the 3rd quarter valued at about $324,000. Finally, SG Americas Securities LLC bought a new position in shares of Lineage during the 3rd quarter valued at about $658,000. Hedge funds and other institutional investors own 3.35% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Capital One Financial assumed coverage on shares of Lineage in a report on Monday, September 16th. They set an "overweight" rating and a $91.00 price objective for the company. Truist Financial started coverage on shares of Lineage in a report on Monday, August 19th. They issued a "buy" rating and a $94.00 price target for the company. Wells Fargo & Company increased their price target on shares of Lineage from $86.00 to $89.00 and gave the company an "equal weight" rating in a report on Wednesday, August 28th. UBS Group started coverage on shares of Lineage in a report on Monday, August 19th. They issued a "neutral" rating and a $88.00 price target for the company. Finally, Baird R W raised shares of Lineage to a "strong-buy" rating in a report on Monday, August 19th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $93.50.

Insider Activity

In related news, CFO Robert Crisci purchased 10,000 shares of the firm's stock in a transaction dated Friday, July 26th. The stock was purchased at an average price of $78.00 per share, with a total value of $780,000.00. Following the completion of the purchase, the chief financial officer now owns 10,000 shares of the company's stock, valued at approximately $780,000. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Robert Crisci purchased 10,000 shares of the firm's stock in a transaction dated Friday, July 26th. The stock was purchased at an average price of $78.00 per share, with a total value of $780,000.00. Following the completion of the purchase, the chief financial officer now owns 10,000 shares of the company's stock, valued at approximately $780,000. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey Alvarez Rivera purchased 600 shares of the firm's stock in a transaction dated Friday, July 26th. The shares were bought at an average cost of $78.00 per share, with a total value of $46,800.00. Following the purchase, the insider now directly owns 5,406 shares of the company's stock, valued at approximately $421,668. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 12,150 shares of company stock valued at $947,700. Corporate insiders own 1.40% of the company's stock.

Lineage Stock Performance

NASDAQ LINE traded down $0.27 during trading on Thursday, hitting $76.43. The stock had a trading volume of 585,483 shares, compared to its average volume of 1,595,615. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.10 and a quick ratio of 0.95. The stock has a market cap of $18.62 billion and a PE ratio of -5.59. Lineage, Inc. has a one year low of $73.16 and a one year high of $89.85. The firm's 50 day moving average price is $81.19.

Lineage Announces Dividend

The business also recently declared a -- dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, September 30th. Lineage's dividend payout ratio is presently -11.12%.

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.