Lindblad Expeditions (NASDAQ:LIND) Stock Price Down 8.5% – Here’s Why

Lindblad Expeditions (NASDAQ:LIND)’s share price dropped 8.5% during trading on Monday . The company traded as low as $16.28 and last traded at $16.33. Approximately 179,551 shares changed hands during trading, a decline of 78% from the average daily volume of 827,615 shares. The stock had previously closed at $17.84.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LIND shares. Zacks Research lowered Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Stifel Nicolaus raised their price target on Lindblad Expeditions from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, January 12th. Citigroup started coverage on Lindblad Expeditions in a research note on Tuesday, December 30th. They issued a “buy” rating on the stock. Benchmark increased their price objective on Lindblad Expeditions from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lindblad Expeditions in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Lindblad Expeditions currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

Lindblad Expeditions Price Performance

The firm has a market capitalization of $1.12 billion, a PE ratio of -27.17 and a beta of 2.20. The company has a 50-day moving average price of $17.61 and a 200-day moving average price of $14.57.

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. On average, research analysts predict that Lindblad Expeditions will post -0.43 earnings per share for the current fiscal year.

Insider Activity at Lindblad Expeditions

In related news, CEO Benjamin Bressler sold 222,386 shares of the company’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 transaction of $3,575,966.88. Following the transaction, the chief executive officer owned 23,466 shares of the company’s stock, valued at approximately $377,333.28. This represents a 90.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sven-Olof Lindblad sold 233,505 shares of the firm’s 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 sale, the director owned 10,939,274 shares in the company, valued at approximately $188,921,261.98. This trade represents a 2.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,782,351 shares of company stock worth $29,808,188 in the last three months. Insiders own 34.00% of the company’s stock.

Hedge Funds Weigh In On Lindblad Expeditions

A number of large investors have recently modified their holdings of LIND. State of Alaska Department of Revenue acquired a new position in Lindblad Expeditions during the third quarter valued at approximately $35,000. Osaic Holdings Inc. raised its stake in shares of Lindblad Expeditions by 58.1% during the second quarter. Osaic Holdings Inc. now owns 3,597 shares of the company’s stock valued at $41,000 after purchasing an additional 1,322 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Lindblad Expeditions during the fourth quarter worth $57,000. Royal Bank of Canada grew its holdings in Lindblad Expeditions by 127.1% during the 4th quarter. Royal Bank of Canada now owns 4,494 shares of the company’s stock valued at $65,000 after purchasing an additional 2,515 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Lindblad Expeditions by 222.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,802 shares of the company’s stock worth $56,000 after buying an additional 3,311 shares during the period. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

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.