Lineage, Inc. $LINE Shares Sold by SCP Investment LP

Key Points

• SCP Investment LP cut its Lineage stake by 43.8% in the fourth quarter, selling 210,000 shares and leaving it with 270,000 shares worth about $9.45 million.
• Analyst sentiment on Lineage is cautious, with a consensus rating of “Reduce” and an average price target of $43.56. Recent moves included target hikes from Scotiabank and Evercore, but multiple firms still rate the stock Hold or Sell.
• Lineage reported better-than-expected EPS of $0.78 for the latest quarter versus an estimate of a loss, while revenue came in roughly in line at $1.30 billion. The company also boosted its quarterly dividend to $0.5325, equal to a 5.0% annualized yield.

SCP Investment LP reduced its stake in Lineage, Inc. (NASDAQ:LINE - Free Report) by 43.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 270,000 shares of the company's stock after selling 210,000 shares during the quarter. Lineage comprises approximately 7.7% of SCP Investment LP's portfolio, making the stock its 6th biggest holding. SCP Investment LP owned approximately 0.12% of Lineage worth $9,450,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in Lineage by 15.2% in the 1st quarter. Royal Bank of Canada now owns 4,956 shares of the company's stock valued at $290,000 after purchasing an additional 653 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Lineage during the 1st quarter worth about $886,000. Millennium Management LLC grew its holdings in shares of Lineage by 197.0% during the first quarter. Millennium Management LLC now owns 288,518 shares of the company's stock worth $16,916,000 after buying an additional 191,362 shares in the last quarter. Invesco Ltd. raised its position in shares of Lineage by 15.5% in the second quarter. Invesco Ltd. now owns 148,086 shares of the company's stock valued at $6,445,000 after buying an additional 19,927 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Lineage by 172.4% in the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after buying an additional 362 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LINE shares. Scotiabank raised their target price on shares of Lineage from $39.00 to $42.00 and gave the stock a "hold" rating in a research report on Wednesday, March 11th. Evercore set a $41.00 price target on Lineage in a report on Thursday, May 7th. Wall Street Zen raised Lineage from a "strong sell" rating to a "sell" rating in a research note on Tuesday, May 19th. Weiss Ratings restated a "sell (d)" rating on shares of Lineage in a report on Friday, March 27th. Finally, Zacks Research upgraded Lineage from a "strong sell" rating to a "hold" rating in a research note on Monday, March 9th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Lineage presently has a consensus rating of "Reduce" and an average target price of $43.56.

Lineage Trading Down 2.4%

NASDAQ LINE opened at $42.98 on Wednesday. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of -69.32 and a beta of 0.88. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.76 and a current ratio of 0.85. Lineage, Inc. has a one year low of $31.33 and a one year high of $46.99. The company's 50 day moving average price is $37.08 and its 200 day moving average price is $36.69.

Lineage (NASDAQ:LINE - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $1.01. Lineage had a negative net margin of 2.72% and a negative return on equity of 1.56%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The business's quarterly revenue was up .4% compared to the same quarter last year. On average, sell-side analysts predict that Lineage, Inc. will post 2.39 EPS for the current year.

Lineage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 21st. Investors of record on Tuesday, March 31st were issued a $0.5325 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $2.13 annualized dividend and a yield of 5.0%. This is an increase from Lineage's previous quarterly dividend of $0.53. Lineage's payout ratio is currently -343.55%.

Insider Buying and Selling

In related news, Chairman Kevin Patrick Marchetti acquired 13,300 shares of the business's stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $37.50 per share, with a total value of $498,750.00. Following the completion of the transaction, the chairman directly owned 113,690 shares of the company's stock, valued at $4,263,375. This trade represents a 13.25% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 71.60% of the stock is owned by company insiders.

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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