Abigail Fleming Acquires 500 Shares of Lineage (NASDAQ:LINE) Stock

Key Points

  • Lineage CAO Abigail Fleming bought 500 shares on Nov. 21 at an average price of $33.56, increasing her stake to 5,862 shares (a 9.32% rise) in a transaction disclosed to the SEC.
  • Lineage beat Q3 estimates with $0.85 EPS (vs. $0.78 expected) and $1.38B revenue (up 3.1% YoY), but the company still reported a negative net margin and return on equity.
  • Dividend and analyst view: Lineage pays a $0.5275 quarterly dividend ($2.11 annual, ~6.1% yield) despite a negative payout ratio (-267%), and analysts have a consensus rating of "Reduce" with an average price target of $46.06.

Lineage, Inc. (NASDAQ:LINE - Get Free Report) CAO Abigail Fleming purchased 500 shares of the business's stock in a transaction dated Friday, November 21st. The shares were purchased at an average cost of $33.56 per share, with a total value of $16,780.00. Following the acquisition, the chief accounting officer owned 5,862 shares in the company, valued at $196,728.72. This trade represents a 9.32% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Lineage Stock Performance

Shares of NASDAQ:LINE opened at $34.80 on Tuesday. Lineage, Inc. has a 1 year low of $32.46 and a 1 year high of $66.38. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of -44.05 and a beta of -0.20. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.99 and a quick ratio of 0.86. The company's 50 day simple moving average is $38.32 and its 200 day simple moving average is $41.50.

Lineage (NASDAQ:LINE - Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.07. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.30%.The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the business posted $0.90 EPS. The company's revenue was up 3.1% compared to the same quarter last year. As a group, research analysts predict that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend




The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th were given a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date was Tuesday, September 30th. Lineage's payout ratio is currently -267.09%.

Hedge Funds Weigh In On Lineage

Several large investors have recently modified their holdings of LINE. Norges Bank bought a new stake in shares of Lineage in the second quarter worth $606,642,000. Darlington Partners Capital Management LP raised its position in Lineage by 45.5% during the 3rd quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company's stock worth $198,332,000 after purchasing an additional 1,605,810 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Lineage by 75.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company's stock worth $255,903,000 after buying an additional 1,880,587 shares during the period. Capital Research Global Investors grew its position in shares of Lineage by 4.0% in the 3rd quarter. Capital Research Global Investors now owns 3,152,949 shares of the company's stock valued at $121,830,000 after buying an additional 120,616 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Lineage by 8.9% in the second quarter. State Street Corp now owns 1,780,270 shares of the company's stock valued at $78,402,000 after buying an additional 145,742 shares during the period.

Analyst Upgrades and Downgrades

LINE has been the subject of a number of research reports. Royal Bank Of Canada dropped their target price on shares of Lineage from $51.00 to $45.00 and set an "outperform" rating for the company in a report on Wednesday, November 12th. Scotiabank dropped their price objective on shares of Lineage from $42.00 to $37.00 and set a "sector perform" rating for the company in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Lineage in a research note on Thursday. Bank of America reiterated an "underperform" rating and set a $42.00 price target (down from $47.00) on shares of Lineage in a report on Monday, August 11th. Finally, Zacks Research downgraded Lineage from a "hold" rating to a "strong sell" rating in a report on Monday, September 29th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company's stock. According to data from MarketBeat.com, Lineage has a consensus rating of "Reduce" and an average price target of $46.06.

Check Out Our Latest Analysis on LINE

About Lineage

(Get Free Report)

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.

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