Lindblad Expeditions (NASDAQ:LIND) Trading Down 8% – Here’s Why

Lindblad Expeditions (NASDAQ:LIND) dropped 8% during mid-day trading on Monday . The stock traded as low as $19.55 and last traded at $19.4060. Approximately 769,753 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 783,544 shares. The stock had previously closed at $21.10.

Analyst Ratings Changes

A number of analysts have commented on LIND shares. Zacks Research downgraded Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Lindblad Expeditions in a research note on Tuesday, April 21st. Wall Street Zen upgraded Lindblad Expeditions from a “hold” rating to a “buy” rating in a research report on Saturday. Benchmark increased their price target on shares of Lindblad Expeditions from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, Oppenheimer assumed coverage on shares of Lindblad Expeditions in a research report on Monday, March 16th. They set an “outperform” rating and a $25.00 price target for the company. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Lindblad Expeditions currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

Lindblad Expeditions Trading Down 7.7%

The firm has a 50-day simple moving average of $18.47 and a two-hundred day simple moving average of $16.07. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -36.07 and a beta of 2.21.

Lindblad Expeditions (NASDAQ:LIND) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.08. The company had revenue of $208.01 million during the quarter, compared to analyst estimates of $197.24 million. Equities research analysts anticipate that Lindblad Expeditions will post 0.09 EPS for the current year.

Insider Buying and Selling

In other Lindblad Expeditions news, Director Jr. Thomas S. Smith sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $17.57, for a total value of $983,920.00. Following the sale, the director owned 45,488 shares in the company, valued at approximately $799,224.16. This represents a 55.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John M. Fahey, Jr. sold 7,768 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $17.66, for a total transaction of $137,182.88. Following the sale, the director directly owned 122,986 shares in the company, valued at $2,171,932.76. The trade was a 5.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 34.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SG Americas Securities LLC increased its stake in shares of Lindblad Expeditions by 495.8% in the 3rd quarter. SG Americas Securities LLC now owns 81,089 shares of the company’s stock valued at $1,038,000 after purchasing an additional 67,480 shares in the last quarter. Black Diamond Financial LLC raised its stake in shares of Lindblad Expeditions by 13.6% during the 3rd quarter. Black Diamond Financial LLC now owns 1,068,362 shares of the company’s stock worth $13,675,000 after buying an additional 127,950 shares during the period. Pier Capital LLC purchased a new position in shares of Lindblad Expeditions during the 3rd quarter valued at approximately $6,076,000. Anchor Capital Management Company LLC lifted its position in shares of Lindblad Expeditions by 7.4% during the 3rd quarter. Anchor Capital Management Company LLC now owns 1,911,106 shares of the company’s stock valued at $24,462,000 after buying an additional 131,203 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in Lindblad Expeditions by 4.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 962,548 shares of the company’s stock valued at $12,321,000 after acquiring an additional 41,750 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

About Lindblad Expeditions

Lindblad Expeditions (NASDAQ: LIND) is a global leader in expedition cruising, specializing in immersive small-ship voyages to some of the world’s most remote and wildlife-rich regions. The company operates a fleet of purpose-built vessels designed to navigate challenging waters and shorelines, offering guests up-close encounters with natural environments such as the polar ice caps, the Galápagos Islands, Costa Rica’s rainforests and the waterways of Alaska, Patagonia and the Arctic.

Founded on the pioneering spirit of Lars-Eric Lindblad, regarded as the father of expedition travel, Lindblad Expeditions carries forward a legacy of discovery that dates back to the 1960s.