Lindblad Expeditions (NASDAQ:LIND) Lowered to “Hold” Rating by Zacks Research

Lindblad Expeditions (NASDAQ:LIND) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus set a $37.00 price target on shares of Lindblad Expeditions in a research report on Tuesday, August 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lindblad Expeditions in a research report on Friday, July 17th. Wall Street Zen downgraded Lindblad Expeditions from a “buy” rating to a “hold” rating in a research note on Saturday. Benchmark upped their target price on Lindblad Expeditions from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Finally, Texas Capital cut Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Lindblad Expeditions has a consensus rating of “Hold” and an average target price of $31.20.

Lindblad Expeditions Stock Performance

Lindblad Expeditions stock opened at $32.84 on Monday. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -86.42 and a beta of 2.24. Lindblad Expeditions has a 52-week low of $11.37 and a 52-week high of $34.95. The firm has a 50 day moving average price of $27.13 and a two-hundred day moving average price of $21.83.

Lindblad Expeditions (NASDAQ:LIND) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.08. Lindblad Expeditions had a negative net margin of 2.08% and a negative return on equity of 0.56%. The company had revenue of $199.25 million during the quarter, compared to analysts’ expectations of $185.86 million. As a group, equities research analysts predict that Lindblad Expeditions will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Lindblad Expeditions news, Director Michael Elliott Bisnow sold 44,642 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $24.21, for a total value of $1,080,782.82. Following the completion of the sale, the director directly owned 25,872 shares in the company, valued at approximately $626,361.12. This trade represents a 63.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John M. Fahey, Jr. sold 2,000 shares of Lindblad Expeditions stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $20.26, for a total transaction of $40,520.00. Following the completion of the sale, the director directly owned 112,486 shares of the company’s stock, valued at approximately $2,278,966.36. This trade represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 57,642 shares of company stock valued at $1,341,193 over the last ninety days. 26.10% of the stock is owned by corporate insiders.

Institutional Trading of Lindblad Expeditions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Lindblad Expeditions during the 2nd quarter worth approximately $122,583,000. Bank of New York Mellon Corp acquired a new stake in Lindblad Expeditions in the second quarter valued at approximately $19,362,000. Millennium Management LLC grew its stake in Lindblad Expeditions by 115.1% in the third quarter. Millennium Management LLC now owns 834,162 shares of the company’s stock valued at $10,677,000 after acquiring an additional 446,294 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Lindblad Expeditions by 44.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,272,909 shares of the company’s stock valued at $22,021,000 after acquiring an additional 393,359 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Lindblad Expeditions by 57.9% during the fourth quarter. UBS Group AG now owns 833,372 shares of the company’s stock valued at $12,017,000 after acquiring an additional 305,704 shares in the last quarter. 75.94% of the stock is owned by institutional investors.

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.