Lindblad Expeditions (NASDAQ:LIND) Announces Earnings Results

Lindblad Expeditions (NASDAQ:LIND) released its earnings results on Monday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.08, Zacks reports.

Lindblad Expeditions Price Performance

Shares of LIND stock opened at $29.58 on Monday. The stock has a market capitalization of $1.94 billion, a PE ratio of -54.78 and a beta of 2.24. The business’s 50 day simple moving average is $25.55 and its 200 day simple moving average is $20.98. Lindblad Expeditions has a one year low of $11.37 and a one year high of $30.43.

Insider Transactions at Lindblad Expeditions

In other news, Director Michael Elliott Bisnow sold 44,642 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $24.21, for a total value of $1,080,782.82. Following the sale, the director directly owned 25,872 shares of the company’s stock, valued at approximately $626,361.12. This represents a 63.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Trey Byus sold 26,460 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $20.23, for a total transaction of $535,285.80. Following the sale, the insider owned 111,530 shares of the company’s stock, valued at approximately $2,256,251.90. This trade represents a 19.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 88,602 shares of company stock worth $1,966,009. Company insiders own 26.10% of the company’s stock.

Hedge Funds Weigh In On Lindblad Expeditions

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings 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 buying an additional 29,642 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Lindblad Expeditions by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 908,796 shares of the company’s stock valued at $13,107,000 after acquiring an additional 5,553 shares in the last quarter. Millennium Management LLC increased its stake in shares of Lindblad Expeditions by 115.1% in the 3rd quarter. Millennium Management LLC now owns 834,162 shares of the company’s stock valued at $10,677,000 after acquiring an additional 446,294 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Lindblad Expeditions by 0.4% during the 3rd quarter. Franklin Resources Inc. now owns 822,120 shares of the company’s stock valued at $10,523,000 after acquiring an additional 3,157 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Lindblad Expeditions by 26.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 750,771 shares of the company’s stock valued at $9,610,000 after acquiring an additional 157,786 shares during the period. 75.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LIND shares. Stifel Nicolaus upped their price objective on shares of Lindblad Expeditions from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $24.00 target price on shares of Lindblad Expeditions in a research note on Friday, July 24th. Wall Street Zen upgraded Lindblad Expeditions from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Capital One Financial set a $31.00 price objective on Lindblad Expeditions in a research report on Monday, June 29th. Finally, Benchmark upped their target price on Lindblad Expeditions from $25.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.20.

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.