Lindblad Expeditions (NASDAQ:LIND) Shares Down 7.7% – Here’s Why

Lindblad Expeditions (NASDAQ:LIND)’s share price fell 7.7% on Thursday . The company traded as low as $16.36 and last traded at $16.3330. 23,157 shares changed hands during trading, a decline of 97% from the average session volume of 805,447 shares. The stock had previously closed at $17.70.

Analyst Ratings Changes

A number of brokerages recently issued reports on LIND. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lindblad Expeditions in a report on Thursday, January 22nd. Benchmark boosted their price target on Lindblad Expeditions from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Oppenheimer initiated coverage on Lindblad Expeditions in a research note on Monday, March 16th. They set an “outperform” rating and a $25.00 price target for the company. Citigroup initiated coverage on Lindblad Expeditions in a report on Tuesday, December 30th. They set a “buy” rating on the stock. Finally, Zacks Research downgraded Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.25.

Lindblad Expeditions Stock Performance

The business’s 50 day moving average is $18.35 and its 200-day moving average is $14.97. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -27.44 and a beta of 2.25.

Lindblad Expeditions (NASDAQ:LIND) last released its earnings results on Thursday, February 26th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.13). The business had revenue of $183.18 million for the quarter, compared to analysts’ expectations of $167.66 million. Equities research analysts forecast that Lindblad Expeditions will post -0.43 EPS for the current fiscal year.

Insider Activity

In related news, Director Sven-Olof Lindblad sold 233,505 shares of the stock in a transaction that occurred on 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 completion of the sale, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Benjamin Bressler sold 222,386 shares of the firm’s 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 sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,829,996 shares of company stock valued at $30,687,123 in the last three months. 34.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Lindblad Expeditions

Several hedge funds and other institutional investors have recently modified their holdings of LIND. State of Alaska Department of Revenue acquired a new position in Lindblad Expeditions during the 3rd quarter valued at $35,000. Osaic Holdings Inc. grew its position in Lindblad Expeditions by 58.1% in the 2nd quarter. Osaic Holdings Inc. now owns 3,597 shares of the company’s stock worth $41,000 after purchasing an additional 1,322 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Lindblad Expeditions by 222.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,802 shares of the company’s stock worth $56,000 after purchasing an additional 3,311 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of Lindblad Expeditions during the 4th quarter worth about $57,000. Finally, CWM LLC raised its position 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 buying an additional 3,166 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

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.