Lindblad Expeditions (NASDAQ:LIND) Stock Price Down 8.7% – Here’s What Happened

Lindblad Expeditions (NASDAQ:LIND) shares dropped 8.7% during trading on Tuesday. The company traded as low as $33.76 and last traded at $33.4610. Approximately 72,671 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 836,092 shares. The stock had previously closed at $36.66.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wall Street Zen raised Lindblad Expeditions from a “hold” rating to a “buy” rating in a report on Sunday, September 20th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $30.00 target price on shares of Lindblad Expeditions in a report on Thursday, September 17th. Zacks Research raised Lindblad Expeditions from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 2nd. Jefferies Financial Group upped their target price on Lindblad Expeditions from $29.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, October 8th. Finally, Stifel Nicolaus set a $37.00 price target on Lindblad Expeditions in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Lindblad Expeditions Trading Down 7.0%

The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -89.57 and a beta of 2.24. The company has a 50-day moving average of $31.39 and a 200-day moving average of $24.51.

Lindblad Expeditions (NASDAQ:LIND) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $269.15 million for the quarter, compared to analyst estimates of $263.54 million. Lindblad Expeditions had a negative return on equity of 0.56% and a negative net margin of 2.08%. On average, research analysts forecast that Lindblad Expeditions will post 0.22 earnings per share for the current year.

Insider Activity at Lindblad Expeditions

In other Lindblad Expeditions news, Director Sven-Olof Lindblad sold 66,872 shares of the company’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $36.95, for a total transaction of $2,470,920.40. Following the sale, the director owned 9,937,202 shares of the company’s stock, valued at approximately $367,179,613.90. This represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 750,000 shares of company stock valued at $26,532,349. Corporate insiders own 26.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Lindblad Expeditions during the 2nd quarter worth approximately $122,583,000. Principal Financial Group Inc. lifted its stake in shares of Lindblad Expeditions by 3.2% during the first quarter. Principal Financial Group Inc. now owns 1,529,868 shares of the company’s stock worth $26,467,000 after buying an additional 46,955 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Lindblad Expeditions by 44.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,272,909 shares of the company’s stock worth $22,021,000 after buying an additional 393,359 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in Lindblad Expeditions by 8.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 864,233 shares of the company’s stock worth $27,163,000 after buying an additional 64,185 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Lindblad Expeditions by 59.0% during the first quarter. Dimensional Fund Advisors LP now owns 786,119 shares of the company’s stock valued at $13,598,000 after acquiring an additional 291,776 shares during the last quarter. Hedge funds and other institutional investors own 75.94% of the company’s stock.

About Lindblad Expeditions

Lindblad Expeditions Holdings, Inc (NASDAQ:LIND) operates expedition cruises and adventure travel experiences focused on nature, culture and education. Through its Lindblad Expeditions brand, the company provides small-ship voyages designed to take travelers to remote destinations while emphasizing exploration, conservation and expert-led interpretation.

The company’s offerings include ocean and river expeditions, wildlife-focused voyages, cultural journeys and land-based adventures. Trips commonly feature naturalists, historians, photographers and other specialists, along with activities such as shore excursions, hiking, kayaking, snorkeling and wildlife observation.