Burkehill Global Management LP Takes $26.36 Million Position in Lineage, Inc. (NASDAQ:LINE)

Burkehill Global Management LP purchased a new position in Lineage, Inc. (NASDAQ:LINE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 450,000 shares of the company’s stock, valued at approximately $26,356,000. Lineage comprises approximately 2.5% of Burkehill Global Management LP’s portfolio, making the stock its 8th largest position. Burkehill Global Management LP owned 0.20% of Lineage as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in LINE. US Bancorp DE acquired a new stake in Lineage during the 3rd quarter worth $25,000. Janney Montgomery Scott LLC purchased a new position in shares of Lineage in the third quarter worth about $781,000. Amalgamated Bank acquired a new position in Lineage during the third quarter worth about $255,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Lineage during the 3rd quarter valued at about $2,145,000. Finally, Baillie Gifford & Co. acquired a new stake in Lineage in the 3rd quarter valued at about $134,351,000.

Lineage Stock Down 0.7 %

LINE opened at $57.77 on Thursday. Lineage, Inc. has a 52 week low of $52.75 and a 52 week high of $89.85. 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 business has a fifty day simple moving average of $57.99 and a 200-day simple moving average of $66.94.

Insider Buying and Selling

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the acquisition, the chairman now owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. 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 target price on the stock. JPMorgan Chase & Co. lowered Lineage from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. Scotiabank upped their target price on Lineage from $73.00 to $74.00 and gave the company a “sector outperform” rating in a report on Monday. Mizuho reduced 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. Finally, Robert W. Baird dropped their price objective on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.