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

Magnetar Financial LLC lessened its holdings in shares of Lineage, Inc. (NASDAQ:LINE) by 17.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LINE. TOMS Capital Investment Management LP bought a new stake in shares of Lineage during the 3rd quarter worth approximately $15,676,000. JPMorgan Chase & Co. bought a new stake in shares of Lineage during the 3rd quarter worth approximately $12,542,000. Principal Financial Group Inc. bought a new stake in shares of Lineage during the 3rd quarter worth approximately $173,115,000. Renaissance Capital LLC lifted its holdings in shares of Lineage by 25.6% during the 4th quarter. Renaissance Capital LLC now owns 83,446 shares of the company’s stock worth $4,887,000 after acquiring an additional 16,990 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Lineage by 10.5% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 602,803 shares of the company’s stock worth $35,306,000 after acquiring an additional 57,302 shares during the period.

Lineage Stock Down 3.2 %

NASDAQ:LINE opened at $58.40 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. The firm has a fifty day simple moving average of $58.23 and a two-hundred day simple moving average of $65.66. Lineage, Inc. has a 12 month low of $52.75 and a 12 month high of $89.85.

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 issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Monday, March 31st.

Insiders Place Their Bets

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the company’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the purchase, the chairman now owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Royal Bank of Canada cut their price target 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 dropped their price objective on shares of Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, January 17th. 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 research note on Monday, March 10th. JPMorgan Chase & Co. downgraded shares of Lineage from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $78.00 to $75.00 in a research note on Friday, December 20th. Finally, BNP Paribas assumed coverage on shares of Lineage in a research note on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.06.

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.