TOMS Capital Investment Management LP Invests $15.68 Million in Lineage, Inc. (NASDAQ:LINE)

TOMS Capital Investment Management LP acquired a new stake in Lineage, Inc. (NASDAQ:LINE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 200,000 shares of the company’s stock, valued at approximately $15,676,000. Lineage accounts for about 0.6% of TOMS Capital Investment Management LP’s investment portfolio, making the stock its 14th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp purchased a new stake in Lineage in the third quarter valued at $833,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Lineage during the 3rd quarter worth about $23,893,000. Nicola Wealth Management LTD. purchased a new stake in Lineage in the 3rd quarter valued at about $658,000. abrdn plc acquired a new position in Lineage in the third quarter valued at about $1,000,000. Finally, Baillie Gifford & Co. purchased a new position in Lineage during the third quarter worth about $134,351,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group initiated coverage on shares of Lineage in a research note on Monday, August 19th. They issued a “neutral” rating and a $88.00 price target on the stock. JPMorgan Chase & Co. started coverage on Lineage in a research note on Monday, August 19th. They set an “overweight” rating and a $93.00 price target on the stock. Evercore ISI lowered their price target on Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Robert W. Baird cut their price objective on Lineage from $91.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, Baird R W upgraded Lineage to a “strong-buy” rating in a report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Lineage has a consensus rating of “Moderate Buy” and a consensus target price of $90.75.

Lineage Trading Down 1.6 %

NASDAQ LINE opened at $63.42 on Monday. Lineage, Inc. has a 52 week low of $62.50 and a 52 week high of $89.85. The business’s 50 day moving average price is $72.26. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE) last issued its earnings results on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm posted $0.75 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. As a group, analysts predict that Lineage, Inc. will post 3 EPS for the current year.

Lineage Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, September 30th were issued a $0.38 dividend. The ex-dividend date of this dividend was Monday, September 30th.

Lineage Profile

Lineage, Inc is the world’s largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world’s largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.