Apollo Management Holdings L.P. Grows Position in Lineage, Inc. $LINE

Key Points

• Apollo Management Holdings increased its Lineage position by 75.1% in the second quarter, acquiring 155,739 additional shares and holding 363,006 shares valued at approximately $15.7 million. Several other institutional investors also initiated or expanded positions.
• Lineage reported quarterly revenue of $1.36 billion and adjusted EPS of $0.76, significantly exceeding the consensus estimate of a $0.22 loss per share, while revenue grew 0.8% year over year.
• The company pays a quarterly dividend of $0.5325 per share, equivalent to an annualized yield of about 5.4%. Analysts maintain a consensus “Hold” rating with an average price target of $44.07, while CFO Robb Lemasters purchased 20,000 shares.

Apollo Management Holdings L.P. raised its holdings in Lineage, Inc. (NASDAQ:LINE - Free Report) by 75.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 363,006 shares of the company's stock after purchasing an additional 155,739 shares during the quarter. Apollo Management Holdings L.P. owned 0.16% of Lineage worth $15,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in LINE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Lineage by 2,845,507.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 398,385 shares of the company's stock worth $17,230,000 after buying an additional 398,371 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Lineage during the second quarter valued at approximately $5,582,000. United Capital Financial Advisors LLC bought a new position in Lineage during the 2nd quarter valued at about $755,000. Caitlin John LLC bought a new stake in shares of Lineage in the second quarter worth $83,000. Finally, Jefferies Financial Group Inc. bought a new stake in Lineage during the second quarter valued at approximately $436,000.

Lineage Price Performance

LINE stock opened at $39.32 on Monday. The company has a market capitalization of $8.95 billion, a P/E ratio of -54.61 and a beta of 0.84. The firm's fifty day simple moving average is $42.40 and its 200-day simple moving average is $39.85. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.78 and a quick ratio of 0.70. Lineage, Inc. has a 12 month low of $31.33 and a 12 month high of $45.75.

Lineage (NASDAQ:LINE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.98. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.85%. The firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the previous year, the business posted $0.81 EPS. The business's revenue was up .8% compared to the same quarter last year. As a group, equities research analysts forecast that Lineage, Inc. will post 2.51 earnings per share for the current year.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, June 30th were given a dividend of $0.5325 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.13 dividend on an annualized basis and a yield of 5.4%. Lineage's dividend payout ratio (DPR) is presently -295.83%.

Analysts Set New Price Targets

LINE has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Lineage from $39.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Monday, June 1st. Citigroup upped their price objective on Lineage from $42.00 to $43.00 and gave the company a "neutral" rating in a research report on Thursday, August 13th. Royal Bank Of Canada upped their target price on Lineage from $44.00 to $48.00 and gave the company an "outperform" rating in a research note on Monday, August 17th. UBS Group lifted their price target on shares of Lineage from $35.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, July 17th. Finally, Piper Sandler dropped their target price on Lineage from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $44.07.

Insider Buying and Selling at Lineage

In other news, CFO Robb A. Lemasters acquired 20,000 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average price of $41.33 per share, with a total value of $826,600.00. Following the completion of the acquisition, the chief financial officer owned 49,500 shares of the company's stock, valued at $2,045,835. This trade represents a 67.80% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 71.60% of the company's stock.

About Lineage

Lineage Logistics, Inc NASDAQ: LINE is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage's core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.

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