Arrowstreet Capital Limited Partnership Increases Stake in Lindblad Expeditions $LIND

Key Points

• Arrowstreet Capital increased its Lindblad Expeditions stake by 44.7% in the first quarter, adding 393,359 shares to own 1.27 million shares worth approximately $22.0 million. Institutional investors collectively hold 75.94% of the company.
• Lindblad Expeditions reported quarterly earnings of $0.09 per share, beating estimates by $0.08, while revenue of $208.01 million exceeded expectations. Shares opened at $29.75, near their 52-week high of $30.44.
• Analyst sentiment remains moderately bullish, with an average price target of $29.20, although ratings range from strong buy to sell. Company insiders have sold 88,602 shares worth about $2.0 million over the past 90 days.

Arrowstreet Capital Limited Partnership raised its stake in Lindblad Expeditions (NASDAQ:LIND - Free Report) by 44.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,272,909 shares of the company's stock after acquiring an additional 393,359 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.94% of Lindblad Expeditions worth $22,021,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in 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 buying an additional 4,921 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Lindblad Expeditions by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,329 shares of the company's stock worth $198,000 after acquiring an additional 1,037 shares in the last quarter. Creative Planning acquired a new stake in shares of Lindblad Expeditions during the 2nd quarter valued at about $174,000. JPMorgan Chase & Co. increased its stake in shares of Lindblad Expeditions by 78.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 311,363 shares of the company's stock valued at $3,634,000 after purchasing an additional 137,312 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Lindblad Expeditions by 8.1% in the 2nd quarter. Rhumbline Advisers now owns 55,012 shares of the company's stock valued at $642,000 after purchasing an additional 4,114 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

Lindblad Expeditions Price Performance

Shares of NASDAQ:LIND opened at $29.75 on Thursday. Lindblad Expeditions has a 1 year low of $11.37 and a 1 year high of $30.44. The firm has a market capitalization of $1.95 billion, a PE ratio of -55.09 and a beta of 2.22. The business's 50 day moving average price is $25.17 and its 200-day moving average price is $20.79.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.08. The business had revenue of $208.01 million during the quarter, compared to analysts' expectations of $197.24 million. As a group, analysts expect that Lindblad Expeditions will post 0.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Trey Byus sold 26,460 shares of Lindblad Expeditions stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $20.23, for a total transaction of $535,285.80. Following the transaction, the insider owned 111,530 shares in the company, valued at approximately $2,256,251.90. This trade represents a 19.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John M. Fahey, Jr. sold 3,500 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $20.04, for a total value of $70,140.00. Following the transaction, the director directly owned 119,486 shares in the company, valued at $2,394,499.44. This trade represents a 2.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 88,602 shares of company stock valued at $1,966,009 in the last ninety days. 26.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LIND. Texas Capital cut Lindblad Expeditions from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Zacks Research upgraded Lindblad Expeditions from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 10th. Stifel Nicolaus upped their target price on Lindblad Expeditions from $27.00 to $32.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Capital One Financial set a $31.00 target price on Lindblad Expeditions in a research report on Monday, June 29th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Lindblad Expeditions in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $29.20.

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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