Short Interest in Lindblad Expeditions (NASDAQ:LIND) Declines By 34.6%

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

Lindblad Expeditions Trading Down 3.8%

Shares of LIND traded down $0.64 during mid-day trading on Friday, reaching $16.16. 833,148 shares of the company’s stock were exchanged, compared to its average volume of 812,322. The company has a 50-day simple moving average of $17.89 and a two-hundred day simple moving average of $14.66. Lindblad Expeditions has a 52-week low of $7.45 and a 52-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 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 analysts’ expectations of $167.66 million. Equities analysts forecast that Lindblad Expeditions will post -0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Zacks Research cut Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Citigroup started coverage on Lindblad Expeditions in a report on Tuesday, December 30th. They set a “buy” rating for the company. Benchmark boosted their target price on 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 raised their price target on Lindblad Expeditions from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.33.

Insider Transactions at Lindblad Expeditions

In related news, CEO Benjamin Bressler sold 222,386 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sven-Olof Lindblad sold 233,505 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was 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. The trade was a 2.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,846,119 shares of company stock valued at $30,929,291 in the last quarter. Insiders own 34.00% of the company’s stock.

Hedge Funds Weigh In On Lindblad Expeditions

Several hedge funds and other institutional investors have recently modified their holdings of LIND. Graham Capital Management L.P. raised its stake in shares of Lindblad Expeditions by 2.4% in the 4th quarter. Graham Capital Management L.P. now owns 24,763 shares of the company’s stock valued at $357,000 after acquiring an additional 590 shares during the period. Summit Global Investments boosted its position in Lindblad Expeditions by 3.5% during the 2nd quarter. Summit Global Investments now owns 25,328 shares of the company’s stock worth $296,000 after purchasing an additional 848 shares during the period. Wedge Capital Management L L P NC increased its holdings in Lindblad Expeditions by 0.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 120,331 shares of the company’s stock valued at $1,735,000 after purchasing an additional 958 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Lindblad Expeditions by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,329 shares of the company’s stock valued at $198,000 after purchasing an additional 1,037 shares in the last quarter. Finally, Simon Quick Advisors LLC raised its position in Lindblad Expeditions by 7.1% in the third quarter. Simon Quick Advisors LLC now owns 16,118 shares of the company’s stock valued at $206,000 after purchasing an additional 1,065 shares during the period. 75.94% of the stock is owned by institutional investors and hedge funds.

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.