BlackRock Inc. Buys Shares of 4,340,762 Lindblad Expeditions $LIND

Key Points

• BlackRock acquired 4.34 million Lindblad Expeditions shares in the second quarter, worth approximately $122.6 million and representing a 6.61% stake. Institutional investors collectively own 75.94% of the company.
• Lindblad reported better-than-expected quarterly results, with an adjusted loss of $0.02 per share versus the $0.10 consensus loss and revenue of $199.25 million versus estimates of $185.86 million.
• The stock opened at $29.59, while analysts maintain a consensus “Hold” rating and an average price target of $31.20. Recent analyst actions were mixed, including rating cuts to “Hold” and price targets ranging from $31 to $37.

BlackRock Inc. purchased a new position in shares of Lindblad Expeditions (NASDAQ:LIND - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,340,762 shares of the company's stock, valued at approximately $122,583,000. BlackRock Inc. owned approximately 6.61% of Lindblad Expeditions at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Deutsche Bank AG acquired a new stake in Lindblad Expeditions during the second quarter worth approximately $1,467,000. Rice Hall James & Associates LLC purchased a new stake in Lindblad Expeditions in the 2nd quarter worth approximately $2,411,000. Bank of New York Mellon Corp acquired a new position in Lindblad Expeditions in the second quarter valued at $19,362,000. Focus Partners Advisor Solutions LLC purchased a new position in Lindblad Expeditions during the second quarter worth about $283,000. Finally, State of Wyoming purchased a new position in Lindblad Expeditions during the second quarter worth about $109,000. Institutional investors and hedge funds own 75.94% of the company's stock.

Lindblad Expeditions Trading Down 1.6%

NASDAQ:LIND opened at $29.59 on Friday. The company has a 50-day moving average of $29.44 and a 200-day moving average of $23.15. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -77.87 and a beta of 2.24. Lindblad Expeditions has a twelve month low of $11.37 and a twelve month high of $35.00.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.08. The business 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 forecast that Lindblad Expeditions will post 0.17 earnings per share for the current year.

Insider Activity

In other news, Director Michael Elliott 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 completion of the sale, the director directly 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 document filed with the SEC, which is available at the SEC website. 26.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Texas Capital cut Lindblad Expeditions from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Stifel Nicolaus set a $37.00 price target on Lindblad Expeditions in a research note on Tuesday, August 4th. Zacks Research cut shares of Lindblad Expeditions from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. Wall Street Zen raised Lindblad Expeditions from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Capital One Financial set a $31.00 target price on shares of Lindblad Expeditions in a research note on Monday, June 29th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Lindblad Expeditions has an average rating of "Hold" and a consensus target price of $31.20.

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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