Waterfall Asset Management LLC Makes New Investment in Lineage, Inc. $LINE

Waterfall Asset Management LLC bought a new stake in shares of Lineage, Inc. (NASDAQ:LINE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 162,409 shares of the company’s stock, valued at approximately $6,275,000. Lineage accounts for about 0.7% of Waterfall Asset Management LLC’s investment portfolio, making the stock its 5th biggest position.

Other hedge funds have also recently made changes to their positions in the company. Caitlin John LLC purchased a new position in Lineage in the 3rd quarter worth about $31,000. Handelsbanken Fonder AB raised its stake in shares of Lineage by 42.0% during the third quarter. Handelsbanken Fonder AB now owns 24,000 shares of the company’s stock valued at $927,000 after acquiring an additional 7,100 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Lineage by 105.5% in the third quarter. US Bancorp DE now owns 4,310 shares of the company’s stock valued at $167,000 after purchasing an additional 2,213 shares during the period. Summer Road LLC grew its stake in Lineage by 21.7% in the third quarter. Summer Road LLC now owns 18,529 shares of the company’s stock worth $716,000 after purchasing an additional 3,300 shares in the last quarter. Finally, SCP Investment LP grew its stake in Lineage by 113.3% in the third quarter. SCP Investment LP now owns 480,000 shares of the company’s stock worth $18,547,000 after purchasing an additional 255,000 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Robert W. Baird reaffirmed a “neutral” rating and set a $39.00 target price (down from $45.00) on shares of Lineage in a research report on Thursday, December 18th. Wells Fargo & Company cut their price target on Lineage from $43.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 25th. The Goldman Sachs Group lowered their price objective on shares of Lineage from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Lineage in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lineage from $43.00 to $38.00 and set an “underweight” rating for the company in a report on Friday, November 14th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $42.18.

Lineage Price Performance

Shares of LINE stock opened at $40.52 on Monday. The stock’s 50-day moving average is $36.68 and its 200 day moving average is $37.81. Lineage, Inc. has a 1-year low of $32.46 and a 1-year high of $62.30. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.80 and a quick ratio of 0.71. The company has a market cap of $9.25 billion, a P/E ratio of -94.23 and a beta of -0.43.

Lineage (NASDAQ:LINE) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.70). The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.38 billion. Lineage had a negative net margin of 1.87% and a negative return on equity of 1.06%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.83 earnings per share. Research analysts predict that Lineage, Inc. will post 2.34 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Wednesday, December 31st were given a dividend of $0.5275 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.2%. Lineage’s dividend payout ratio is presently -490.70%.

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.