Lineage, Inc.’s (NASDAQ:LINE) Lock-Up Period Will End on January 21st

Lineage’s (NASDAQ:LINE) lock-up period is set to end on Tuesday, January 21st. Lineage had issued 56,882,051 shares in its public offering on July 25th. The total size of the offering was $4,436,799,978 based on an initial share price of $78.00. After the expiration of Lineage’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Ratings Changes

A number of equities research analysts recently commented on LINE shares. Royal Bank of Canada dropped their price objective on Lineage from $94.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Scotiabank cut their price target on shares of Lineage from $94.00 to $76.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, December 10th. Mizuho lowered their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. The Goldman Sachs Group reduced their target price on shares of Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Friday. Finally, Evercore ISI dropped their price target on Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Seven investment 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.06.

Lineage Price Performance

NASDAQ LINE opened at $58.18 on Friday. Lineage has a 12-month low of $52.75 and a 12-month high of $89.85. The firm has a 50-day simple moving average of $60.80. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. On average, research analysts predict that Lineage will post 2.33 EPS for the current year.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be paid a $0.5275 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.11 annualized dividend and a dividend yield of 3.63%.

Hedge Funds Weigh In On Lineage

A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP bought a new position in Lineage in the third quarter valued at about $265,895,000. Victory Capital Management Inc. bought a new stake in shares of Lineage during the 3rd quarter valued at approximately $176,790,000. Principal Financial Group Inc. bought a new stake in shares of Lineage during the 3rd quarter valued at approximately $173,115,000. Baillie Gifford & Co. acquired a new position in Lineage during the 3rd quarter worth approximately $134,351,000. Finally, Janus Henderson Group PLC bought a new position in Lineage in the 3rd quarter valued at approximately $131,875,000.

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.