Bank of America Corp DE Purchases 269,039 Shares of Lindblad Expeditions $LIND

Key Points

• Bank of America nearly doubled its Lindblad Expeditions stake in the first quarter, purchasing 269,039 additional shares to own 546,832 shares valued at approximately $9.46 million.
• Institutional investors collectively own 75.94% of Lindblad Expeditions, with Arrowstreet Capital and Millennium Management among the firms that significantly increased their positions.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and a $31.20 price target, while LIND recently traded at $31.90 after reporting better-than-expected quarterly revenue and earnings.

Bank of America Corp DE increased its position in shares of Lindblad Expeditions (NASDAQ:LIND - Free Report) by 96.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 546,832 shares of the company's stock after buying an additional 269,039 shares during the quarter. Bank of America Corp DE owned about 0.83% of Lindblad Expeditions worth $9,460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Lindblad Expeditions by 1.3% during the third quarter. Vanguard Group Inc. now owns 2,332,262 shares of the company's stock valued at $29,853,000 after acquiring an additional 29,642 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Lindblad Expeditions by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,529,868 shares of the company's stock worth $26,467,000 after purchasing an additional 46,955 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Lindblad Expeditions by 44.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,272,909 shares of the company's stock valued at $22,021,000 after purchasing an additional 393,359 shares during the period. Geode Capital Management LLC grew its position in Lindblad Expeditions by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 908,796 shares of the company's stock valued at $13,107,000 after purchasing an additional 5,553 shares during the period. Finally, Millennium Management LLC grew its position in Lindblad Expeditions by 115.1% in the 3rd quarter. Millennium Management LLC now owns 834,162 shares of the company's stock valued at $10,677,000 after purchasing an additional 446,294 shares during the period. Institutional investors own 75.94% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on LIND. Texas Capital downgraded shares of Lindblad Expeditions from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Wall Street Zen cut shares of Lindblad Expeditions from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft set a $29.00 target price on shares of Lindblad Expeditions in a report on Thursday, August 6th. Zacks Research cut shares of Lindblad Expeditions from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 10th. Finally, Benchmark lifted their price target on Lindblad Expeditions from $25.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $31.20.

Insider Buying and Selling at Lindblad Expeditions

In other news, Director Michael Elliott Bisnow sold 44,642 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $24.21, for a total value of $1,080,782.82. Following the transaction, the director owned 25,872 shares in the company, valued at $626,361.12. The trade was a 63.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 26.10% of the stock is owned by insiders.

Lindblad Expeditions Price Performance

NASDAQ LIND opened at $31.90 on Tuesday. The company has a fifty day moving average price of $28.97 and a 200-day moving average price of $22.85. Lindblad Expeditions has a 1 year low of $11.37 and a 1 year high of $35.00. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -83.95 and a beta of 2.24.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.08. The business had revenue of $199.25 million for the quarter, compared to analysts' expectations of $185.86 million. Lindblad Expeditions had a negative net margin of 2.08% and a negative return on equity of 0.56%. On average, research analysts anticipate that Lindblad Expeditions will post 0.17 EPS for the current fiscal year.

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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