Lindblad Expeditions (NASDAQ:LIND) Rating Lowered to Hold at Zacks Research

Key Points

• Zacks Research downgraded Lindblad Expeditions from “strong buy” to “hold.” The broader analyst consensus is also Hold, with a consensus price target of $32.50.
• Lindblad reported quarterly EPS of $0.36, slightly above the $0.35 estimate, and revenue of $269.15 million, ahead of analyst expectations.
• The stock rose 7.6% and opened at $33.98. Company insiders have sold 750,000 shares worth about $26.5 million over the past 90 days.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday, Zacks reports.

A number of other research analysts also recently issued reports on LIND. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $30.00 price target on shares of Lindblad Expeditions in a report on Thursday, September 17th. Jefferies Financial Group boosted their price objective on Lindblad Expeditions from $29.00 to $32.00 and gave the company a "hold" rating in a report on Thursday, October 8th. Stifel Nicolaus set a $43.00 price objective on shares of Lindblad Expeditions in a research note on Wednesday. Wall Street Zen lowered Lindblad Expeditions from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Lindblad Expeditions in a research note on Thursday, October 15th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $32.50.

Lindblad Expeditions Stock Up 7.6%

Shares of NASDAQ:LIND opened at $33.98 on Thursday. The company's fifty day simple moving average is $31.53 and its 200 day simple moving average is $24.85. Lindblad Expeditions has a 12 month low of $11.37 and a 12 month high of $38.85. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -1,699.00 and a beta of 2.27.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $269.15 million for the quarter, compared to analyst estimates of $263.54 million. Lindblad Expeditions had a negative return on equity of 0.56% and a negative net margin of 2.08%. Research analysts expect that Lindblad Expeditions will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lindblad Expeditions news, Director Sven-Olof Lindblad sold 97,470 shares of the business's stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $36.23, for a total value of $3,531,338.10. Following the completion of the sale, the director owned 10,351,502 shares in the company, valued at approximately $375,034,917.46. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 750,000 shares of company stock valued at $26,532,349 over the last 90 days. Corporate insiders own 26.10% of the company's stock.

Institutional Trading of Lindblad Expeditions

Several institutional investors have recently made changes to their positions in LIND. Integrated Wealth Concepts LLC acquired a new stake in shares of Lindblad Expeditions in the second quarter valued at approximately $25,000. GAMMA Investing LLC raised its stake in shares of Lindblad Expeditions by 35.3% in the third quarter. GAMMA Investing LLC now owns 1,249 shares of the company's stock worth $39,000 after purchasing an additional 326 shares during the last quarter. Allworth Financial LP bought a new stake in Lindblad Expeditions during the second quarter worth approximately $38,000. Sterling Capital Management LLC increased its position in shares of Lindblad Expeditions by 846.0% in the 3rd quarter. Sterling Capital Management LLC now owns 1,665 shares of the company's stock valued at $52,000 after acquiring an additional 1,489 shares during the period. Finally, Silvant Capital Management LLC acquired a new stake in Lindblad Expeditions during the second quarter worth about $58,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

About Lindblad Expeditions

Lindblad Expeditions Holdings, Inc NASDAQ: LIND operates expedition cruises and adventure travel experiences focused on nature, culture and education. Through its Lindblad Expeditions brand, the company provides small-ship voyages designed to take travelers to remote destinations while emphasizing exploration, conservation and expert-led interpretation.

The company's offerings include ocean and river expeditions, wildlife-focused voyages, cultural journeys and land-based adventures. Trips commonly feature naturalists, historians, photographers and other specialists, along with activities such as shore excursions, hiking, kayaking, snorkeling and wildlife observation.

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