Pinnacle Associates Ltd. Purchases 41,750 Shares of Lindblad Expeditions $LIND

Pinnacle Associates Ltd. raised its position in Lindblad Expeditions (NASDAQ:LIND) by 4.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 962,548 shares of the company’s stock after buying an additional 41,750 shares during the period. Pinnacle Associates Ltd.’s holdings in Lindblad Expeditions were worth $12,321,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Lindblad Expeditions by 1.3% during the third quarter. Vanguard Group Inc. now owns 2,332,262 shares of the company’s stock worth $29,853,000 after purchasing an additional 29,642 shares during the last quarter. Anchor Capital Management Company LLC increased its stake in shares of Lindblad Expeditions by 8.2% in the second quarter. Anchor Capital Management Company LLC now owns 1,779,903 shares of the company’s stock valued at $20,771,000 after buying an additional 135,000 shares during the period. Black Diamond Financial LLC raised its holdings in Lindblad Expeditions by 13.6% in the 3rd 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 during the last quarter. Geode Capital Management LLC boosted its position in Lindblad Expeditions by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 899,844 shares of the company’s stock worth $10,503,000 after buying an additional 18,638 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Lindblad Expeditions by 108.4% during the 2nd 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 period. 75.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lindblad Expeditions

In other news, CEO Benjamin Bressler sold 41,000 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $18.08, for a total transaction of $741,280.00. Following the completion of the sale, the chief executive officer directly owned 23,466 shares in the company, valued at $424,265.28. This represents a 63.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sven-Olof Lindblad sold 28,002 shares of Lindblad Expeditions stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $17.61, for a total transaction of $493,115.22. Following the transaction, the director directly owned 10,783,962 shares of the company’s stock, valued at $189,905,570.82. This represents a 0.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,782,351 shares of company stock valued at $29,808,188. 34.00% of the stock is currently owned by corporate insiders.

Lindblad Expeditions Price Performance

Shares of LIND stock opened at $17.84 on Monday. The stock has a market capitalization of $1.16 billion, a PE ratio of -28.32 and a beta of 2.20. The business’s 50 day simple moving average is $17.61 and its 200 day simple moving average is $14.57. Lindblad Expeditions has a one year low of $7.45 and a one year high of $21.23.

Lindblad Expeditions (NASDAQ:LIND) last released its quarterly earnings results 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 business had revenue of $183.18 million for the quarter, compared to analysts’ expectations of $167.66 million. As a group, research analysts expect that Lindblad Expeditions will post -0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Citigroup began coverage on shares of Lindblad Expeditions in a report on Tuesday, December 30th. They set a “buy” rating on the stock. Benchmark lifted 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. Zacks Research cut shares of 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 report on Thursday, January 22nd. Finally, Stifel Nicolaus raised their target price on Lindblad Expeditions from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Four 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, the stock has an average rating of “Moderate Buy” and an average target price of $21.33.

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.