Wall Street Zen Downgrades Lindblad Expeditions (NASDAQ:LIND) to Hold

Key Points

• Wall Street Zen downgraded Lindblad Expeditions from “buy” to “hold.” The broader analyst consensus is also “Hold,” with four Buy, four Hold and one Sell rating and an average price target of $30.83.
• LIND shares opened at $25.67, below their 50-day moving average of $29.15 but above their 200-day average of $23.53. The stock has traded between $11.37 and $35.00 over the past year.
• The company exceeded quarterly expectations, reporting an adjusted loss of $0.02 per share versus the projected loss of $0.10 and revenue of $199.25 million versus estimates of $185.86 million. Institutional investors own approximately 75.94% of the stock, while insiders own 26.10%.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently commented on the company. Stifel Nicolaus set a $37.00 price target on Lindblad Expeditions in a research note on Tuesday, August 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lindblad Expeditions in a research report on Friday, July 17th. Texas Capital cut shares of Lindblad Expeditions from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Jefferies Financial Group initiated coverage on shares of Lindblad Expeditions in a research report on Wednesday. They set a "hold" rating and a $29.00 price objective for the company. Finally, Benchmark raised their target price on shares of Lindblad Expeditions from $25.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Lindblad Expeditions has a consensus rating of "Hold" and an average target price of $30.83.

Lindblad Expeditions Stock Up 1.5%

Shares of LIND stock opened at $25.67 on Friday. The stock's 50-day moving average price is $29.15 and its 200 day moving average price is $23.53. The stock has a market capitalization of $1.68 billion, a PE ratio of -67.55 and a beta of 2.22. Lindblad Expeditions has a 52-week low of $11.37 and a 52-week high of $35.00.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.02) earnings per share for the quarter, topping 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 company had revenue of $199.25 million during the quarter, compared to analysts' expectations of $185.86 million. Analysts expect that Lindblad Expeditions will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael Bisnow sold 44,642 shares of the company's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $24.21, for a total transaction of $1,080,782.82. Following the transaction, the director owned 25,872 shares of the company's stock, valued at $626,361.12. This represents a 63.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 26.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lindblad Expeditions

Several institutional investors have recently made changes to their positions in LIND. Deutsche Bank AG acquired a new stake in shares of Lindblad Expeditions in the second quarter valued at about $1,467,000. Fifth Third Bancorp purchased a new stake in Lindblad Expeditions during the first quarter worth about $650,000. Calamos Advisors LLC acquired a new position in Lindblad Expeditions during the first quarter worth about $1,505,000. Great Lakes Advisors LLC purchased a new position in Lindblad Expeditions in the second quarter valued at about $2,057,000. Finally, Nicholas Investment Partners LP purchased a new position in Lindblad Expeditions in the second quarter valued at about $9,587,000. 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.

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