Lineage, Inc. (NASDAQ:LINE) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its stake in shares of Lineage, Inc. (NASDAQ:LINE) by 26.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 177,864 shares of the company’s stock after selling 65,400 shares during the period. Sei Investments Co. owned approximately 0.08% of Lineage worth $10,418,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of Lineage by 12.4% during the fourth quarter. American Century Companies Inc. now owns 15,424 shares of the company’s stock worth $903,000 after purchasing an additional 1,697 shares during the last quarter. Quantbot Technologies LP increased its stake in Lineage by 1,178.3% in the 4th quarter. Quantbot Technologies LP now owns 52,654 shares of the company’s stock valued at $3,084,000 after buying an additional 48,535 shares during the period. Northwest & Ethical Investments L.P. purchased a new position in Lineage during the 4th quarter worth $2,159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Lineage by 86.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,076 shares of the company’s stock worth $1,176,000 after buying an additional 9,298 shares during the last quarter. Finally, Cibc World Markets Corp lifted its stake in shares of Lineage by 10.4% in the 4th quarter. Cibc World Markets Corp now owns 17,335 shares of the company’s stock worth $1,015,000 after acquiring an additional 1,640 shares during the period.

Wall Street Analysts Forecast Growth

LINE has been the subject of several analyst reports. The Goldman Sachs Group cut their price target 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. Mizuho reduced their price target on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Robert W. Baird decreased their price target on Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Citigroup initiated coverage on Lineage in a research report on Friday. They issued a “neutral” rating and a $64.00 price objective for the company. Finally, BNP Paribas initiated coverage on shares of Lineage in a research report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.06.

Lineage Stock Down 1.5 %

Shares of LINE opened at $58.98 on Friday. 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, Inc. has a 1-year low of $52.75 and a 1-year high of $89.85. The firm has a 50 day simple moving average of $58.57 and a 200-day simple moving average of $64.86.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be given a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 3.58%. The ex-dividend date is Monday, March 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 dated Friday, February 28th. The stock was acquired at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the transaction, the chairman now directly owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.

About Lineage

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.