Lineage (NASDAQ:LINE) Sees Unusually-High Trading Volume – Here’s Why

Shares of Lineage, Inc. (NASDAQ:LINE) saw strong trading volume on Thursday . 1,445,474 shares were traded during mid-day trading, an increase of 107% from the previous session’s volume of 698,527 shares.The stock last traded at $55.20 and had previously closed at $54.65.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. 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 report on Thursday, November 7th. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $78.00 to $75.00 in a report on Friday, December 20th. Mizuho dropped their price target on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Scotiabank dropped their price target on Lineage from $76.00 to $73.00 and set a “sector outperform” rating on the stock in a report on Monday, February 3rd. Finally, The Goldman Sachs Group cut their target price on shares of Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lineage presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.88.

Lineage Stock Performance

The firm’s fifty day moving average price is $57.94 and its 200 day moving average price is $69.42. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend was Tuesday, December 31st.

Hedge Funds Weigh In On Lineage

Several institutional investors and hedge funds have recently modified their holdings of LINE. US Bancorp DE bought a new stake in Lineage in the third quarter worth $25,000. Larson Financial Group LLC bought a new stake in Lineage in the third quarter worth $34,000. GAMMA Investing LLC boosted its holdings in Lineage by 7,466.7% in the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 448 shares in the last quarter. FIL Ltd bought a new stake in Lineage in the fourth quarter worth $29,000. Finally, Quarry LP bought a new stake in Lineage in the fourth quarter worth $50,000.

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.