Lindblad Expeditions (NASDAQ:LIND) Trading Down 8.5% – Here’s What Happened

Shares of Lindblad Expeditions (NASDAQ:LIND) fell 8.5% during trading on Monday . The stock traded as low as $16.28 and last traded at $16.33. 179,551 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 827,615 shares. The stock had previously closed at $17.84.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Lindblad Expeditions from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, January 12th. Citigroup started coverage on Lindblad Expeditions in a research note on Tuesday, December 30th. They issued a “buy” rating for the company. Zacks Research downgraded Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Lindblad Expeditions in a report on Thursday, January 22nd. Finally, Benchmark boosted their price target on shares of Lindblad Expeditions from $18.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.33.

Lindblad Expeditions Stock Performance

The business has a 50-day simple moving average of $17.61 and a 200-day simple moving average of $14.57. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -27.17 and a beta of 2.20.

Lindblad Expeditions (NASDAQ:LIND) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.13). The firm had revenue of $183.18 million for the quarter, compared to analyst estimates of $167.66 million. Research analysts anticipate that Lindblad Expeditions will post -0.43 EPS for the current year.

Insider Activity

In other news, CEO Benjamin Bressler sold 222,386 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $16.08, for a total value of $3,575,966.88. Following the completion of the transaction, the chief executive officer owned 23,466 shares in the company, valued at approximately $377,333.28. This represents a 90.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sven-Olof Lindblad sold 233,505 shares of Lindblad Expeditions stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $17.27, for a total transaction of $4,032,631.35. Following the sale, the director owned 10,939,274 shares in the company, valued at $188,921,261.98. This represents a 2.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,782,351 shares of company stock valued at $29,808,188. Insiders own 34.00% of the company’s stock.

Hedge Funds Weigh In On Lindblad Expeditions

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC raised its position in 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Lindblad Expeditions by 8.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 578,809 shares of the company’s stock valued at $6,755,000 after purchasing an additional 46,284 shares during the period. Black Diamond Financial LLC increased its stake in Lindblad Expeditions by 13.6% in the third quarter. Black Diamond Financial LLC now owns 1,068,362 shares of the company’s stock valued at $13,675,000 after purchasing an additional 127,950 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Lindblad Expeditions by 108.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 592,985 shares of the company’s stock valued at $6,920,000 after buying an additional 308,463 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Lindblad Expeditions during the second quarter worth $512,000. Hedge funds and other institutional investors 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.