Connor Clark & Lunn Investment Management Ltd. Increases Stake in Lindblad Expeditions $LIND

Connor Clark & Lunn Investment Management Ltd. increased its stake in Lindblad Expeditions (NASDAQ:LIND) by 8.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 578,809 shares of the company’s stock after buying an additional 46,284 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Lindblad Expeditions were worth $6,755,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. New York State Common Retirement Fund increased its holdings in shares of Lindblad Expeditions by 106.9% in the 1st quarter. New York State Common Retirement Fund now owns 684,851 shares of the company’s stock worth $6,349,000 after purchasing an additional 353,817 shares in the last quarter. Mackenzie Financial Corp raised its stake in Lindblad Expeditions by 67.7% during the 1st quarter. Mackenzie Financial Corp now owns 76,552 shares of the company’s stock worth $710,000 after acquiring an additional 30,912 shares during the period. Vanguard Group Inc. raised its stake in Lindblad Expeditions by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 2,270,726 shares of the company’s stock valued at $21,050,000 after purchasing an additional 55,003 shares during the period. Nuveen LLC bought a new stake in Lindblad Expeditions in the first quarter worth $1,257,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Lindblad Expeditions by 31.0% in the 1st quarter. Russell Investments Group Ltd. now owns 73,431 shares of the company’s stock valued at $681,000 after purchasing an additional 17,390 shares during the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Benjamin Bressler sold 21,137 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $15.01, for a total transaction of $317,266.37. Following the transaction, the chief executive officer directly owned 23,466 shares in the company, valued at $352,224.66. The trade was a 47.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Trey Byus sold 16,585 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $14.88, for a total transaction of $246,784.80. Following the sale, the insider owned 128,996 shares in the company, valued at $1,919,460.48. This represents a 11.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 346,167 shares of company stock valued at $5,008,206 over the last three months. 34.00% of the stock is owned by insiders.

Lindblad Expeditions Stock Performance

LIND stock opened at $12.28 on Thursday. The stock has a market capitalization of $680.31 million, a P/E ratio of -18.61 and a beta of 2.59. The company has a 50 day moving average price of $12.62 and a two-hundred day moving average price of $12.12. Lindblad Expeditions has a one year low of $7.45 and a one year high of $15.06.

Lindblad Expeditions (NASDAQ:LIND) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The firm had revenue of $240.17 million during the quarter, compared to the consensus estimate of $229.68 million. Lindblad Expeditions has set its FY 2025 guidance at EPS. Research analysts forecast that Lindblad Expeditions will post -0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LIND has been the subject of several research reports. Stifel Nicolaus set a $18.00 price objective on shares of Lindblad Expeditions and gave the company a “buy” rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded Lindblad Expeditions from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lindblad Expeditions in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.00.

Lindblad Expeditions Company Profile

Lindblad Expeditions Holdings, Inc provides marine expedition adventures and travel experience worldwide. It operates through Lindblad and Land Experiences segment. Lindblad segment provides ship-based expeditions aboard customized, nimble, and intimately-scaled vessels, which offers up-close experiences in the planet's wild and remote places, and capitals of culture; and offers expedition ship which is equipped with state-of-the-art tools for in-depth exploration with infrastructure and ports, such as Antarctica and the Arctic, and places that accessed by a ship comprising Galápagos Islands, Alaska, Baja California's Sea of Cortez and Panama, and foster engagement activities.