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

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LIND. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lindblad Expeditions in a research report on Thursday, January 22nd. Stifel Nicolaus raised 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. Benchmark boosted their target price on shares of Lindblad Expeditions from $18.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Citigroup assumed coverage on shares of Lindblad Expeditions in a report on Tuesday, December 30th. They set a “buy” rating for the company. Finally, Zacks Research lowered shares of Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Lindblad Expeditions has a consensus rating of “Moderate Buy” and an average price target of $21.33.

Lindblad Expeditions Stock Down 0.9%

The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -28.02 and a beta of 2.20. The company has a 50 day simple moving average of $17.74 and a 200 day simple moving average of $14.62.

Lindblad Expeditions (NASDAQ:LIND) last announced 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 company had revenue of $183.18 million for the quarter, compared to the consensus estimate of $167.66 million. As a group, analysts predict that Lindblad Expeditions will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lindblad Expeditions news, CEO Benjamin Bressler sold 41,000 shares of the business’s 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 sale, the chief executive officer owned 23,466 shares of the company’s stock, valued at approximately $424,265.28. The trade was a 63.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sven-Olof Lindblad sold 28,002 shares of the company’s 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 owned 10,783,962 shares of the company’s stock, valued at $189,905,570.82. This trade represents a 0.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,782,351 shares of company stock worth $29,808,188. Insiders own 34.00% of the company’s stock.

Hedge Funds Weigh In On Lindblad Expeditions

Several large investors have recently bought and sold shares of LIND. Vanguard Group Inc. boosted its stake 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 valued at $29,853,000 after purchasing an additional 29,642 shares in the last quarter. Anchor Capital Management Company LLC increased its stake in shares of Lindblad Expeditions by 7.4% in the third quarter. Anchor Capital Management Company LLC now owns 1,911,106 shares of the company’s stock valued at $24,462,000 after buying an additional 131,203 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. Penn Capital Management Company LLC boosted its position in Lindblad Expeditions by 1.7% during the 3rd quarter. Penn Capital Management Company LLC now owns 969,539 shares of the company’s stock worth $12,423,000 after buying an additional 16,418 shares during the period. Finally, Pinnacle Associates Ltd. boosted its position in Lindblad Expeditions by 4.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 962,548 shares of the company’s stock worth $12,321,000 after buying an additional 41,750 shares during the period. 75.94% of the stock is currently owned by institutional investors.

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.