Burkehill Global Management LP Purchases Shares of 450,000 Lineage, Inc. (NASDAQ:LINE)

Burkehill Global Management LP acquired a new position in shares of Lineage, Inc. (NASDAQ:LINE) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 450,000 shares of the company’s stock, valued at approximately $26,356,000. Lineage makes up approximately 2.5% of Burkehill Global Management LP’s investment portfolio, making the stock its 8th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE purchased a new position in Lineage in the third quarter worth approximately $25,000. GAMMA Investing LLC raised its holdings in shares of Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 448 shares in the last quarter. Larson Financial Group LLC purchased a new stake in shares of Lineage during the 3rd quarter worth $34,000. Stifel Financial Corp acquired a new position in shares of Lineage during the third quarter worth $211,000. Finally, MetLife Investment Management LLC acquired a new position in shares of Lineage during the third quarter worth $226,000.

Insider Buying and Selling

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the transaction, the chairman now directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LINE shares. Robert W. Baird cut their target price on Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. 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. The Goldman Sachs Group reduced their price objective on shares of Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research report on Friday, January 17th. JPMorgan Chase & Co. downgraded shares of Lineage from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $78.00 to $75.00 in a research report on Friday, December 20th. Finally, BNP Paribas initiated coverage on shares of Lineage in a research report on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price target for the company. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.06.

Lineage Price Performance

Shares of Lineage stock opened at $57.77 on Thursday. The company has a 50-day moving average of $57.99 and a two-hundred day moving average of $66.94. Lineage, Inc. has a 12-month low of $52.75 and a 12-month high of $89.85. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

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.