Bank of New York Mellon Corp Makes New $19.36 Million Investment in Lindblad Expeditions $LIND

Key Points

• Bank of New York Mellon acquired 685,618 Lindblad Expeditions shares worth approximately $19.36 million, giving it about a 1.04% stake. Institutional investors collectively own 75.94% of the company.
• Lindblad reported quarterly revenue of $199.25 million and an adjusted loss of $0.02 per share, beating analyst estimates of $185.86 million in revenue and a $0.10 loss per share.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $31.20, while the stock opened at $26.56 after a reported 10.2% decline.

Bank of New York Mellon Corp bought a new position in shares of Lindblad Expeditions (NASDAQ:LIND - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 685,618 shares of the company's stock, valued at approximately $19,362,000. Bank of New York Mellon Corp owned approximately 1.04% of Lindblad Expeditions at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC increased its holdings in shares of Lindblad Expeditions by 44.4% in the 1st quarter. AQR Capital Management LLC now owns 15,994 shares of the company's stock valued at $148,000 after acquiring an additional 4,921 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Lindblad Expeditions by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,329 shares of the company's stock worth $198,000 after purchasing an additional 1,037 shares during the last quarter. Creative Planning acquired a new position in Lindblad Expeditions in the second quarter worth $174,000. JPMorgan Chase & Co. boosted its holdings in Lindblad Expeditions by 78.9% in the second quarter. JPMorgan Chase & Co. now owns 311,363 shares of the company's stock worth $3,634,000 after purchasing an additional 137,312 shares during the period. Finally, Rhumbline Advisers increased its stake in Lindblad Expeditions by 8.1% during the second quarter. Rhumbline Advisers now owns 55,012 shares of the company's stock valued at $642,000 after purchasing an additional 4,114 shares during the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LIND has been the subject of several research reports. Texas Capital lowered shares of Lindblad Expeditions from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Deutsche Bank Aktiengesellschaft set a $29.00 target price on shares of Lindblad Expeditions in a report on Thursday, August 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lindblad Expeditions in a report on Friday, July 17th. Capital One Financial set a $31.00 price target on Lindblad Expeditions in a research report on Monday, June 29th. Finally, Stifel Nicolaus set a $37.00 price target on Lindblad Expeditions in a report on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $31.20.

Lindblad Expeditions Trading Down 10.2%

Shares of LIND opened at $26.56 on Tuesday. The business's 50-day moving average price is $29.46 and its 200 day moving average price is $23.21. The stock has a market capitalization of $1.74 billion, a P/E ratio of -69.89 and a beta of 2.24. Lindblad Expeditions has a 1-year low of $11.37 and a 1-year 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) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.08. The company had revenue of $199.25 million during the quarter, compared to analyst estimates 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 predict that Lindblad Expeditions will post 0.17 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Michael Elliott Bisnow sold 44,642 shares of the stock in a transaction dated 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 approximately $626,361.12. This represents a 63.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 26.10% of the company's stock.

Lindblad Expeditions Company Profile

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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