Magnetar Financial LLC Has $499,000 Position in Lineage, Inc. (NASDAQ:LINE)

Magnetar Financial LLC lowered its stake in Lineage, Inc. (NASDAQ:LINE) by 17.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,528 shares of the company’s stock after selling 1,843 shares during the period. Magnetar Financial LLC’s holdings in Lineage were worth $499,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Larson Financial Group LLC acquired a new stake in Lineage during the 3rd quarter worth $34,000. GAMMA Investing LLC grew its holdings in Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after acquiring an additional 448 shares during the period. Stifel Financial Corp acquired a new stake in Lineage during the 3rd quarter worth $211,000. MetLife Investment Management LLC acquired a new stake in Lineage during the 3rd quarter worth $226,000. Finally, Quantbot Technologies LP acquired a new stake in Lineage during the 3rd quarter worth $323,000.

Insider Transactions at Lineage

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. lowered shares of Lineage from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $78.00 to $75.00 in a report on Friday, December 20th. Royal Bank of Canada lowered their target price on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. The Goldman Sachs Group lowered their target price 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. Piper Sandler reduced their price target on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Finally, Robert W. Baird reduced their price target on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Seven 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.com, Lineage has a consensus rating of “Moderate Buy” and an average target price of $82.06.

Lineage Stock Down 3.2 %

Lineage stock opened at $58.40 on Friday. The company’s 50-day moving average is $58.23 and its 200-day moving average is $65.66. Lineage, Inc. has a fifty-two week low of $52.75 and a fifty-two week high of $89.85. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a dividend of $0.5275 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 3.61%.

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.