Formula Growth Ltd. Acquires Shares of 111,491 Lindblad Expeditions $LIND

Formula Growth Ltd. bought a new position in shares of Lindblad Expeditions (NASDAQ:LIND) during the second quarter, HoldingsChannel reports. The firm bought 111,491 shares of the company’s stock, valued at approximately $3,149,000. Lindblad Expeditions makes up about 1.1% of Formula Growth Ltd.’s holdings, making the stock its 22nd biggest holding.

Several other hedge funds also recently made changes to their positions in LIND. AQR Capital Management LLC increased its holdings in shares of Lindblad Expeditions by 44.4% in the 1st quarter. AQR Capital Management LLC now owns 15,994 shares of the company’s stock valued at $148,000 after acquiring an additional 4,921 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Lindblad Expeditions by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,329 shares of the company’s stock worth $198,000 after purchasing an additional 1,037 shares during the last quarter. Creative Planning bought a new position in Lindblad Expeditions during the second quarter worth $174,000. JPMorgan Chase & Co. boosted its holdings in Lindblad Expeditions by 78.9% in the second quarter. JPMorgan Chase & Co. now owns 311,363 shares of the company’s stock worth $3,634,000 after purchasing an additional 137,312 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Lindblad Expeditions by 8.1% in the second quarter. Rhumbline Advisers now owns 55,012 shares of the company’s stock worth $642,000 after purchasing an additional 4,114 shares during the period. Institutional investors and hedge funds own 75.94% of the company’s stock.

Lindblad Expeditions Trading Down 3.6%

NASDAQ LIND opened at $30.06 on Friday. Lindblad Expeditions has a 52 week low of $11.37 and a 52 week high of $35.00. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -79.11 and a beta of 2.24. The company has a 50-day moving average price of $29.36 and a two-hundred day moving average price of $23.10.

Lindblad Expeditions (NASDAQ:LIND) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.08. The company had revenue of $199.25 million for the quarter, compared to analyst estimates of $185.86 million. Lindblad Expeditions had a negative net margin of 2.08% and a negative return on equity of 0.56%. As a group, equities research analysts expect that Lindblad Expeditions will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at Lindblad Expeditions

In related news, Director Michael Elliott Bisnow sold 44,642 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $24.21, for a total value of $1,080,782.82. Following the completion of the transaction, the director directly owned 25,872 shares of the company’s stock, valued at $626,361.12. This represents a 63.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 26.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LIND shares. Deutsche Bank Aktiengesellschaft set a $29.00 target price on shares of Lindblad Expeditions in a report on Thursday, August 6th. Benchmark boosted their price objective on shares of Lindblad Expeditions from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Texas Capital cut shares of Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Capital One Financial set a $31.00 target price on Lindblad Expeditions in a research note on Monday, June 29th. Finally, Wall Street Zen lowered Lindblad Expeditions from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.20.

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.