Moore Capital Management LP Invests $14.26 Million in Lineage, Inc. $LINE

Moore Capital Management LP purchased a new position in Lineage, Inc. (NASDAQ:LINE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 407,412 shares of the company’s stock, valued at approximately $14,259,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Lineage in the fourth quarter valued at $482,255,000. Darlington Partners Capital Management LP increased its stake in Lineage by 45.5% in the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock valued at $198,332,000 after purchasing an additional 1,605,810 shares during the last quarter. Morgan Stanley increased its stake in Lineage by 378.6% during the fourth quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock worth $175,607,000 after acquiring an additional 3,968,958 shares during the last quarter. Capital Research Global Investors increased its stake in Lineage by 4.0% during the third quarter. Capital Research Global Investors now owns 3,152,949 shares of the company’s stock worth $121,830,000 after acquiring an additional 120,616 shares during the last quarter. Finally, State Street Corp increased its stake in Lineage by 8.9% during the second quarter. State Street Corp now owns 1,780,270 shares of the company’s stock worth $78,402,000 after acquiring an additional 145,742 shares during the last quarter.

Lineage Stock Down 3.0%

LINE opened at $41.53 on Thursday. Lineage, Inc. has a 12 month low of $31.33 and a 12 month high of $46.61. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.85 and a quick ratio of 0.76. The stock has a market cap of $9.46 billion, a P/E ratio of -66.98 and a beta of 0.88. The stock’s 50 day moving average price is $39.41 and its 200 day moving average price is $37.45.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, May 6th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of ($0.23) by $1.01. Lineage had a negative return on equity of 1.56% and a negative net margin of 2.72%.The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm earned $0.86 EPS. The firm’s revenue was up .4% compared to the same quarter last year. As a group, research analysts predict that Lineage, Inc. will post 2.45 earnings per share for the current year.

Lineage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.5325 per share. This represents a $2.13 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Lineage’s dividend payout ratio (DPR) is presently -343.55%.

Analyst Upgrades and Downgrades

LINE has been the subject of several analyst reports. Citigroup upped their target price on Lineage from $38.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Barclays upped their target price on Lineage from $34.00 to $35.00 and gave the stock an “underweight” rating in a research report on Friday, May 15th. The Goldman Sachs Group increased their price target on Lineage from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, March 20th. Morgan Stanley increased their price target on Lineage from $39.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, June 2nd. Finally, Compass Point assumed coverage on Lineage in a report on Wednesday, March 18th. They issued a “buy” rating and a $47.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $43.94.

Lineage 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.