Formula Growth Ltd. Invests $3.15 Million in Lindblad Expeditions $LIND

Formula Growth Ltd. purchased a new position in shares of Lindblad Expeditions (NASDAQ:LIND - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 111,491 shares of the company's stock, valued at approximately $3,149,000. Lindblad Expeditions accounts for 1.1% of Formula Growth Ltd.'s portfolio, making the stock its 22nd biggest holding. Formula Growth Ltd. owned 0.17% of Lindblad Expeditions at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in Lindblad Expeditions by 44.4% in the first quarter. AQR Capital Management LLC now owns 15,994 shares of the company's stock valued at $148,000 after buying an additional 4,921 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Lindblad Expeditions by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,329 shares of the company's stock valued at $198,000 after purchasing an additional 1,037 shares during the last quarter. Creative Planning acquired a new position in shares of Lindblad Expeditions in the second quarter valued at approximately $174,000. JPMorgan Chase & Co. lifted its stake in shares of Lindblad Expeditions by 78.9% during the 2nd 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 lifted its position in Lindblad Expeditions by 8.1% during the second quarter. Rhumbline Advisers now owns 55,012 shares of the company's stock worth $642,000 after buying an additional 4,114 shares during the period. Institutional investors and hedge funds own 75.94% of the company's stock.

Analyst Upgrades and Downgrades

LIND has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of Lindblad Expeditions from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft set a $29.00 price target on Lindblad Expeditions in a research report on Thursday, August 6th. Benchmark lifted their price objective on shares of Lindblad Expeditions from $25.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lindblad Expeditions in a research report on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Lindblad Expeditions from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Lindblad Expeditions presently has a consensus rating of "Hold" and an average price target of $31.20.

Lindblad Expeditions Stock Down 3.6%

Shares of LIND opened at $30.06 on Friday. The business's 50 day moving average is $29.36 and its two-hundred day moving average is $23.10. Lindblad Expeditions has a 52-week low of $11.37 and a 52-week high of $35.00. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -79.11 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 analysts' consensus estimates of ($0.10) by $0.08. The business had revenue of $199.25 million during the quarter, compared to the consensus estimate 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, equities analysts expect that Lindblad Expeditions will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

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

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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