Lindblad Expeditions (NASDAQ:LIND) Stock Rating Lowered by Zacks Research

Lindblad Expeditions (NASDAQ:LIND) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts have also weighed in on LIND. Benchmark raised their price objective on Lindblad Expeditions from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Stifel Nicolaus set a $37.00 price target on shares of Lindblad Expeditions in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft set a $29.00 price objective on shares of Lindblad Expeditions in a research report on Thursday, August 6th. Capital One Financial set a $31.00 price objective on shares of Lindblad Expeditions in a research note on Monday, June 29th. Finally, Texas Capital cut shares of Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $31.20.

Lindblad Expeditions Price Performance

Shares of LIND opened at $32.84 on Monday. The firm has a 50 day simple moving average of $27.13 and a two-hundred day simple moving average of $21.83. Lindblad Expeditions has a one year low of $11.37 and a one year high of $34.95. The company has a market cap of $2.15 billion, a P/E ratio of -86.42 and a beta of 2.24.

Lindblad Expeditions (NASDAQ:LIND) last issued its earnings results on Monday, August 3rd. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.08. Lindblad Expeditions had a negative return on equity of 0.56% and a negative net margin of 2.08%.The firm had revenue of $199.25 million for the quarter, compared to the consensus estimate of $185.86 million. On average, 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, insider Trey Byus sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $20.05, for a total value of $200,500.00. Following the completion of the transaction, the insider owned 101,530 shares in the company, valued at $2,035,676.50. This trade represents a 8.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John M. Fahey, Jr. sold 2,000 shares of Lindblad Expeditions stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $20.26, for a total transaction of $40,520.00. Following the sale, the director owned 112,486 shares in the company, valued at approximately $2,278,966.36. This represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 57,642 shares of company stock worth $1,341,193. Insiders own 26.10% of the company’s stock.

Hedge Funds Weigh In On Lindblad Expeditions

Several large investors have recently modified their holdings of LIND. AQR Capital Management LLC lifted its holdings in shares of Lindblad Expeditions by 44.4% during the first quarter. AQR Capital Management LLC now owns 15,994 shares of the company’s stock worth $148,000 after purchasing an additional 4,921 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Lindblad Expeditions by 5.1% in the first 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 during the period. Creative Planning acquired a new stake in Lindblad Expeditions in the second quarter valued at $174,000. JPMorgan Chase & Co. raised its position in Lindblad Expeditions by 78.9% during the 2nd 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 last quarter. Finally, Rhumbline Advisers raised its position in Lindblad Expeditions by 8.1% during the 2nd 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 last quarter. Institutional investors own 75.94% of the company’s stock.

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.