Lindblad Expeditions (NASDAQ:LIND) Shares Down 7.7% – Here’s What Happened

Lindblad Expeditions (NASDAQ:LIND) traded down 7.7% on Thursday . The stock traded as low as $16.36 and last traded at $16.3330. 23,157 shares were traded during mid-day trading, a decline of 97% from the average session volume of 805,447 shares. The stock had previously closed at $17.70.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Lindblad Expeditions in a research note on Thursday, January 22nd. Stifel Nicolaus raised their price objective on Lindblad Expeditions from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Benchmark lifted their price objective on Lindblad Expeditions from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Zacks Research cut Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, Citigroup initiated coverage on Lindblad Expeditions in a research note on Tuesday, December 30th. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.25.

Lindblad Expeditions Stock Down 2.7%

The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -27.44 and a beta of 2.25. The company’s 50-day moving average is $18.35 and its 200-day moving average is $14.97.

Lindblad Expeditions (NASDAQ:LIND) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.13). The business had revenue of $183.18 million for the quarter, compared to analysts’ expectations of $167.66 million. On average, research analysts forecast that Lindblad Expeditions will post -0.43 earnings per share for the current year.

Insider Activity at Lindblad Expeditions

In related news, CEO Benjamin Bressler sold 222,386 shares of the business’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $16.08, for a total value of $3,575,966.88. Following the sale, the chief executive officer owned 23,466 shares of the company’s stock, valued at $377,333.28. The trade was a 90.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sven-Olof Lindblad sold 233,505 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $17.27, for a total value of $4,032,631.35. Following the completion of the sale, the director owned 10,939,274 shares in the company, valued at $188,921,261.98. This trade represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,829,996 shares of company stock valued at $30,687,123 in the last 90 days. 34.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lindblad Expeditions

Several large investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in Lindblad Expeditions by 495.8% during 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. Black Diamond Financial LLC boosted its position 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 buying an additional 127,950 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Lindblad Expeditions by 108.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 592,985 shares of the company’s stock worth $6,920,000 after buying an additional 308,463 shares during the last quarter. Anchor Capital Management Company LLC increased its holdings in shares of Lindblad Expeditions by 7.4% during the third quarter. Anchor Capital Management Company LLC now owns 1,911,106 shares of the company’s stock worth $24,462,000 after buying an additional 131,203 shares in the last quarter. Finally, Pier Capital LLC acquired a new stake in shares of Lindblad Expeditions during the third quarter worth approximately $6,076,000. Institutional investors own 75.94% of the company’s stock.

Lindblad Expeditions Company Profile

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.