SCP Investment LP Buys Shares of 180,000 Lineage, Inc. (NASDAQ:LINE)

SCP Investment LP purchased a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 180,000 shares of the company's stock, valued at approximately $10,543,000. Lineage makes up about 8.1% of SCP Investment LP's holdings, making the stock its 5th biggest position. SCP Investment LP owned about 0.08% of Lineage as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new position in Lineage in the 3rd quarter worth about $34,000. GAMMA Investing LLC raised its holdings in shares of Lineage by 7,466.7% during the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company's stock valued at $27,000 after acquiring an additional 448 shares during the period. Stifel Financial Corp acquired a new position in Lineage in the 3rd quarter worth approximately $211,000. MetLife Investment Management LLC purchased a new stake in shares of Lineage in the third quarter valued at $226,000. Finally, Quantbot Technologies LP purchased a new position in shares of Lineage during the third quarter valued at $323,000.

Insider Activity

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the purchase, the chairman now owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.

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Lineage Price Performance

LINE traded down $2.96 on Thursday, hitting $55.57. 482,939 shares of the company were exchanged, compared to its average volume of 1,273,341. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. Lineage, Inc. has a 12 month low of $52.75 and a 12 month high of $89.85. The stock's fifty day moving average is $58.48 and its 200-day moving average is $64.35.

Lineage Announces Dividend

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 issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Monday, March 31st.

Analyst Upgrades and Downgrades

LINE has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut shares of Lineage from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Citigroup initiated coverage on shares of Lineage in a research note on Friday, March 28th. They set a "neutral" rating and a $64.00 target price for the company. Morgan Stanley lowered their price target on Lineage from $80.00 to $75.00 and set an "overweight" rating on the stock in a research note on Tuesday. Royal Bank of Canada decreased their price objective on Lineage from $81.00 to $74.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Finally, Piper Sandler decreased their price target on Lineage from $90.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $79.67.

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.