Lineage (NASDAQ:LINE) Sees Large Volume Increase – What’s Next?

Shares of Lineage, Inc. (NASDAQ:LINE) saw an uptick in trading volume on Friday . 2,772,609 shares traded hands during trading, an increase of 192% from the previous session’s volume of 951,083 shares.The stock last traded at $60.32 and had previously closed at $59.66.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LINE. BNP Paribas began coverage on shares of Lineage in a research note on Tuesday, January 14th. They set a “neutral” rating and a $61.00 price target on the stock. Piper Sandler decreased their price target on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday. Royal Bank of Canada decreased their price target on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Robert W. Baird decreased their price target on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Mizuho cut their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.41.

Lineage Trading Up 1.0 %

The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company’s fifty day simple moving average is $57.74 and its two-hundred day simple moving average is $68.29.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st were issued a dividend of $0.5275 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.50%.

Institutional Investors Weigh In On Lineage

A number of hedge funds and other institutional investors have recently made changes to their positions in LINE. Norges Bank acquired a new stake in shares of Lineage during the fourth quarter worth $681,572,000. Wellington Management Group LLP bought a new position in Lineage in the third quarter valued at $265,895,000. D1 Capital Partners L.P. grew its position in Lineage by 257.5% in the fourth quarter. D1 Capital Partners L.P. now owns 3,753,598 shares of the company’s stock valued at $219,848,000 after purchasing an additional 2,703,598 shares in the last quarter. Victory Capital Management Inc. bought a new position in Lineage in the third quarter valued at $176,790,000. Finally, Principal Financial Group Inc. bought a new position in Lineage in the third quarter valued at $173,115,000.

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.