Lindblad Expeditions (NASDAQ:LIND) Trading Down 8% – Here’s Why
by Scott Moore · The Cerbat GemLindblad Expeditions (NASDAQ:LIND – Get Free Report) was down 8% on Monday . The company traded as low as $19.55 and last traded at $19.4060. Approximately 769,753 shares were traded during trading, a decline of 2% from the average daily volume of 783,544 shares. The stock had previously closed at $21.10.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on LIND shares. Zacks Research downgraded Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lindblad Expeditions in a report on Tuesday, April 21st. Oppenheimer initiated coverage on shares of Lindblad Expeditions in a report on Monday, March 16th. They issued an “outperform” rating and a $25.00 price target on the stock. Wall Street Zen raised shares of Lindblad Expeditions from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Benchmark increased their price target on shares of Lindblad Expeditions from $18.00 to $25.00 and gave the company a “buy” rating in a report on Friday, February 27th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.25.
Lindblad Expeditions Trading Down 0.7%
The stock’s 50-day simple moving average is $18.44 and its 200-day simple moving average is $16.27. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -34.96 and a beta of 2.21.
Lindblad Expeditions (NASDAQ:LIND – Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. The business had revenue of $208.01 million for the quarter, compared to analyst estimates of $197.24 million. On average, equities research analysts forecast that Lindblad Expeditions will post 0.09 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Jr. Thomas S. Smith sold 56,000 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $17.57, for a total transaction of $983,920.00. Following the sale, the director owned 45,488 shares in the company, valued at approximately $799,224.16. This trade represents a 55.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John M. Fahey, Jr. sold 3,500 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $20.04, for a total transaction of $70,140.00. Following the sale, the director owned 119,486 shares in the company, valued at $2,394,499.44. This represents a 2.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 94,728 shares of company stock worth $1,745,919. Corporate insiders own 26.10% of the company’s stock.
Institutional Trading of Lindblad Expeditions
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Lindblad Expeditions by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,332,262 shares of the company’s stock worth $29,853,000 after acquiring an additional 29,642 shares in the last quarter. Anchor Capital Management Company LLC boosted 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 worth $24,462,000 after acquiring an additional 131,203 shares in the last quarter. Principal Financial Group Inc. boosted its position in Lindblad Expeditions by 3.2% in the first quarter. Principal Financial Group Inc. now owns 1,529,868 shares of the company’s stock valued at $26,467,000 after buying an additional 46,955 shares in 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. Finally, Penn Capital Management Company LLC boosted its position in Lindblad Expeditions by 1.7% in the third quarter. Penn Capital Management Company LLC now owns 969,539 shares of the company’s stock valued at $12,423,000 after buying an additional 16,418 shares in the last quarter. 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.