Y Intercept Hong Kong Ltd Buys New Position in Lineage, Inc. $LINE

Key Points

• Y Intercept Hong Kong Ltd disclosed a new first-quarter position in Lineage, buying 61,326 shares valued at about $2.0 million.
• Institutional interest in Lineage remains active, with several large investors making major moves; Norges Bank, Morgan Stanley, AQR Capital Management, and others all significantly increased or initiated stakes.
• Lineage reported mixed fundamentals: the stock was down 1.6%, but the company recently posted EPS of $0.78 versus estimates for a loss and announced a quarterly $0.5325 dividend, yielding about 4.9%.

Y Intercept Hong Kong Ltd purchased a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 61,326 shares of the company's stock, valued at approximately $2,009,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Lineage in the 4th quarter valued at $482,255,000. Morgan Stanley boosted its stake in Lineage by 378.6% during the 4th quarter. Morgan Stanley now owns 5,017,332 shares of the company's stock worth $175,607,000 after purchasing an additional 3,968,958 shares during the period. Darlington Partners Capital Management LP grew its position in Lineage by 45.5% during the 3rd quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company's stock worth $198,332,000 after purchasing an additional 1,605,810 shares during the last quarter. AQR Capital Management LLC increased its stake in Lineage by 636.1% in the fourth quarter. AQR Capital Management LLC now owns 1,330,439 shares of the company's stock valued at $46,273,000 after purchasing an additional 1,149,686 shares during the period. Finally, Barclays PLC raised its holdings in shares of Lineage by 8,719.8% in the third quarter. Barclays PLC now owns 1,022,125 shares of the company's stock valued at $39,495,000 after buying an additional 1,010,536 shares during the last quarter.

Lineage Stock Down 1.6%

LINE stock opened at $43.29 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.76 and a debt-to-equity ratio of 0.82. The company's 50-day moving average price is $41.53 and its 200 day moving average price is $38.20. Lineage, Inc. has a 52 week low of $31.33 and a 52 week high of $45.75. The company has a market cap of $9.86 billion, a P/E ratio of -69.82 and a beta of 0.85.

Lineage (NASDAQ:LINE - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.23) by $1.01. The company had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.31 billion. Lineage had a negative net margin of 2.72% and a negative return on equity of 1.56%. The firm's quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. On average, research analysts expect that Lineage, Inc. will post 2.44 earnings per share for the current fiscal year.

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, June 30th will be paid a $0.5325 dividend. This represents a $2.13 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Lineage's dividend payout ratio (DPR) is presently -343.55%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Weiss Ratings restated a "sell (d)" rating on shares of Lineage in a research report on Wednesday, June 24th. Scotiabank reiterated a "sector perform" rating and issued a $45.00 target price on shares of Lineage in a research note on Thursday, June 18th. Evercore set a $44.00 price target on Lineage in a research note on Monday, June 8th. Truist Financial lifted their price objective on shares of Lineage from $44.00 to $46.00 and gave the company a "buy" rating in a research report on Wednesday, June 17th. Finally, Compass Point assumed coverage on shares of Lineage in a research note on Wednesday, March 18th. They issued a "buy" rating and a $47.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $41.62.

Lineage Company Profile

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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