Pier Capital LLC Acquires New Position in Lindblad Expeditions $LIND

Pier Capital LLC bought a new position in Lindblad Expeditions (NASDAQ:LIND) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 474,709 shares of the company’s stock, valued at approximately $6,076,000. Pier Capital LLC owned approximately 0.86% of Lindblad Expeditions at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in LIND. Arrowstreet Capital Limited Partnership boosted its holdings in shares of 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 purchasing an additional 308,463 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Lindblad Expeditions by 62.1% in the second quarter. Marshall Wace LLP now owns 568,241 shares of the company’s stock valued at $6,631,000 after purchasing an additional 217,638 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Lindblad Expeditions by 78.9% in the second quarter. JPMorgan Chase & Co. now owns 311,363 shares of the company’s stock valued at $3,634,000 after purchasing an additional 137,312 shares during the last quarter. Anchor Capital Management Company LLC lifted its position in Lindblad Expeditions by 8.2% during the second quarter. Anchor Capital Management Company LLC now owns 1,779,903 shares of the company’s stock worth $20,771,000 after buying an additional 135,000 shares in the last quarter. Finally, Black Diamond Financial LLC lifted its position in Lindblad Expeditions by 13.6% during the third quarter. Black Diamond Financial LLC now owns 1,068,362 shares of the company’s stock worth $13,675,000 after buying an additional 127,950 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lindblad Expeditions

In other Lindblad Expeditions news, Director John M. Fahey, Jr. sold 7,768 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $17.66, for a total value of $137,182.88. Following the transaction, the director owned 122,986 shares of the company’s stock, valued at $2,171,932.76. This represents a 5.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Benjamin Bressler sold 41,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $18.08, for a total transaction of $741,280.00. Following the transaction, the chief executive officer directly owned 23,466 shares of the company’s stock, valued at approximately $424,265.28. This trade represents a 63.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,846,119 shares of company stock valued at $30,929,291 in the last quarter. Corporate insiders own 34.00% of the company’s stock.

Lindblad Expeditions Stock Down 4.8%

LIND stock opened at $16.80 on Friday. Lindblad Expeditions has a 52-week low of $7.45 and a 52-week high of $21.23. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -26.67 and a beta of 2.20. The business has a fifty day moving average of $17.85 and a two-hundred day moving average of $14.65.

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

Analyst Ratings Changes

Several brokerages have issued reports on LIND. Zacks Research cut Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Benchmark lifted their price target on Lindblad Expeditions from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Stifel Nicolaus boosted their price target on shares of Lindblad Expeditions from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lindblad Expeditions in a report on Thursday, January 22nd. Finally, Citigroup started coverage on shares of Lindblad Expeditions in a research report on Tuesday, December 30th. They set a “buy” rating for the company. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.