Lineage, Inc. (NASDAQ:LINE) Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in Lineage, Inc. (NASDAQ:LINE) by 149.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 266,784 shares of the company’s stock after buying an additional 159,927 shares during the period. Bank of New York Mellon Corp’s holdings in Lineage were worth $15,626,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp bought a new position in Lineage in the 3rd quarter worth about $833,000. TOMS Capital Investment Management LP bought a new position in shares of Lineage in the third quarter valued at approximately $15,676,000. JPMorgan Chase & Co. bought a new position in shares of Lineage in the third quarter valued at approximately $12,542,000. Nicola Wealth Management LTD. bought a new position in shares of Lineage in the third quarter valued at approximately $658,000. Finally, Principal Financial Group Inc. bought a new position in shares of Lineage in the third quarter valued at approximately $173,115,000.

Insider Activity at Lineage

In related news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the business’s stock in a transaction on Friday, February 28th. The stock was bought at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the transaction, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by insiders.

Lineage Stock Performance

Shares of NASDAQ:LINE opened at $58.19 on Wednesday. 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 52 week low of $52.75 and a 52 week high of $89.85. The firm has a 50 day simple moving average of $57.99 and a 200 day simple moving average of $66.94.

Analyst Ratings Changes

Several research firms have recently issued reports on LINE. Mizuho decreased their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Scotiabank increased their price objective on shares of Lineage from $73.00 to $74.00 and gave the company a “sector outperform” rating in a report on Monday. Piper Sandler decreased their price objective on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. cut shares of Lineage from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $78.00 to $75.00 in a report on Friday, December 20th. Finally, Robert W. Baird cut their target price on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $82.06.

Lineage Company 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.