Lindblad Expeditions (NASDAQ:LIND) Sees Significant Drop in Short Interest

Lindblad Expeditions (NASDAQ:LIND) saw a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 3,911,326 shares, a decrease of 34.6% from the February 12th total of 5,983,245 shares. Currently, 9.1% of the shares of the stock are sold short. Based on an average trading volume of 824,459 shares, the short-interest ratio is presently 4.7 days. Based on an average trading volume of 824,459 shares, the short-interest ratio is presently 4.7 days. Currently, 9.1% of the shares of the stock are sold short.

Lindblad Expeditions Price Performance

Shares of NASDAQ:LIND traded down $0.64 on Friday, reaching $16.16. 833,148 shares of the company traded hands, compared to its average volume of 812,322. The stock has a market capitalization of $1.05 billion, a PE ratio of -25.65 and a beta of 2.20. The company’s 50 day moving average is $17.89 and its 200-day moving average is $14.66. Lindblad Expeditions has a fifty-two week low of $7.45 and a fifty-two week high of $21.23.

Lindblad Expeditions (NASDAQ:LIND) last announced its earnings results on Thursday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.13). The firm had revenue of $183.18 million during the quarter, compared to the consensus estimate of $167.66 million. As a group, analysts expect that Lindblad Expeditions will post -0.43 EPS for the current year.

Insider Activity at Lindblad Expeditions

In other news, CEO Benjamin Bressler sold 222,386 shares of the stock in a transaction that occurred 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 directly owned 23,466 shares in the company, valued at $377,333.28. This trade represents a 90.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sven-Olof Lindblad sold 233,505 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $17.27, for a total transaction of $4,032,631.35. Following the transaction, the director owned 10,939,274 shares in the company, valued at $188,921,261.98. This represents a 2.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,846,119 shares of company stock valued at $30,929,291 over the last quarter. Insiders own 34.00% of the company’s stock.

Institutional Trading of Lindblad Expeditions

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new stake in Lindblad Expeditions during the third quarter valued at about $35,000. Osaic Holdings Inc. increased its position in shares of Lindblad Expeditions by 58.1% in the second quarter. Osaic Holdings Inc. now owns 3,597 shares of the company’s stock worth $41,000 after acquiring an additional 1,322 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Lindblad Expeditions by 222.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,802 shares of the company’s stock worth $56,000 after acquiring an additional 3,311 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Lindblad Expeditions during the fourth quarter valued at approximately $57,000. Finally, CWM LLC raised its holdings in shares of Lindblad Expeditions by 188.1% during the third quarter. CWM LLC now owns 4,849 shares of the company’s stock valued at $62,000 after acquiring an additional 3,166 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup started coverage on Lindblad Expeditions in a research note on Tuesday, December 30th. They issued a “buy” rating on the stock. Zacks Research lowered Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. 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 report on Friday, February 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lindblad Expeditions in a report on Thursday, January 22nd. Finally, Stifel Nicolaus lifted their price objective on shares of Lindblad Expeditions from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Four investment 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’s stock. Based on data from MarketBeat.com, Lindblad Expeditions presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.33.

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.