Hedges Asset Management LLC Cuts Position in Lindblad Expeditions $LIND

Key Points

• Hedges Asset Management LLC reduced its stake in Lindblad Expeditions by 22.4%, now holding 147,500 shares, which represents about 1.4% of its portfolio.
• Several institutional investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and Graham Capital Management, have increased their stakes in Lindblad Expeditions recently.
• Analysts have given Lindblad Expeditions a consensus rating of "Buy" with a target price averaging $17.00, following a strong earnings report that exceeded expectations.

Hedges Asset Management LLC cut its holdings in Lindblad Expeditions (NASDAQ:LIND - Free Report) by 22.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,500 shares of the company's stock after selling 42,500 shares during the period. Lindblad Expeditions makes up approximately 1.4% of Hedges Asset Management LLC's portfolio, making the stock its 17th biggest position. Hedges Asset Management LLC owned approximately 0.27% of Lindblad Expeditions worth $1,721,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Militia Capital Partners LP bought a new position in shares of Lindblad Expeditions in the 1st quarter worth about $238,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 buying an additional 1,037 shares in the last quarter. Anchor Capital Management Company LLC increased its position in Lindblad Expeditions by 7.6% in the 1st quarter. Anchor Capital Management Company LLC now owns 1,644,903 shares of the company's stock valued at $15,248,000 after buying an additional 115,814 shares in the last quarter. AQR Capital Management LLC increased its position in 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 buying an additional 4,921 shares in the last quarter. Finally, Ariel Investments LLC increased its position in Lindblad Expeditions by 6.0% in the 1st quarter. Ariel Investments LLC now owns 7,777,768 shares of the company's stock valued at $72,100,000 after buying an additional 441,046 shares in the last quarter. 75.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Benjamin Bressler sold 200,700 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $14.19, for a total value of $2,847,933.00. Following the transaction, the chief executive officer owned 23,466 shares in the company, valued at $332,982.54. The trade was a 89.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Trey Byus sold 16,585 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $14.88, for a total value of $246,784.80. Following the completion of the transaction, the insider owned 128,996 shares in the company, valued at $1,919,460.48. The trade was a 11.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 568,553 shares of company stock worth $7,908,923 in the last 90 days. Company insiders own 34.00% of the company's stock.

Wall Street Analyst Weigh In

LIND has been the subject of a number of research analyst reports. Stifel Nicolaus set a $18.00 target price on Lindblad Expeditions and gave the company a "buy" rating in a research report on Tuesday, August 5th. Wall Street Zen raised Lindblad Expeditions from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Finally, Craig Hallum set a $16.00 target price on Lindblad Expeditions and gave the company a "buy" rating in a research report on Friday, May 23rd. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $17.00.

Lindblad Expeditions Trading Down 1.0%

Shares of NASDAQ:LIND traded down $0.14 during mid-day trading on Friday, hitting $13.01. 382,960 shares of the company traded hands, compared to its average volume of 342,474. The stock has a market cap of $712.54 million, a P/E ratio of -43.45 and a beta of 2.63. Lindblad Expeditions has a 12-month low of $7.45 and a 12-month high of $15.06. The stock has a 50-day moving average price of $13.28 and a two-hundred day moving average price of $11.25.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.11. The company had revenue of $167.95 million for the quarter, compared to analysts' expectations of $158.97 million. Lindblad Expeditions has set its FY 2025 guidance at EPS. As a group, analysts expect that Lindblad Expeditions will post -0.43 earnings per share for the current year.

Lindblad Expeditions Company Profile

Lindblad Expeditions Holdings, Inc provides marine expedition adventures and travel experience worldwide. It operates through Lindblad and Land Experiences segment. Lindblad segment provides ship-based expeditions aboard customized, nimble, and intimately-scaled vessels, which offers up-close experiences in the planet's wild and remote places, and capitals of culture; and offers expedition ship which is equipped with state-of-the-art tools for in-depth exploration with infrastructure and ports, such as Antarctica and the Arctic, and places that accessed by a ship comprising Galápagos Islands, Alaska, Baja California's Sea of Cortez and Panama, and foster engagement activities.