Lindblad Expeditions $LIND Position Cut by Renaissance Technologies LLC

Key Points

• Renaissance Technologies cut its Lindblad Expeditions stake by 67.7% in the first quarter, selling 63,987 shares and retaining 30,498 shares valued at approximately $528,000.
• Institutional ownership remains high at 75.94%, while analyst sentiment is mixed: the stock has an average “Hold” rating and a consensus price target of $31.20.
• Lindblad Expeditions beat quarterly expectations, reporting a loss of $0.02 per share versus the expected loss of $0.10 and revenue of $199.25 million versus estimates of $185.86 million.

Renaissance Technologies LLC reduced its holdings in Lindblad Expeditions (NASDAQ:LIND - Free Report) by 67.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,498 shares of the company's stock after selling 63,987 shares during the quarter. Renaissance Technologies LLC's holdings in Lindblad Expeditions were worth $528,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in Lindblad Expeditions by 44.4% during the 1st quarter. AQR Capital Management LLC now owns 15,994 shares of the company's stock worth $148,000 after acquiring an additional 4,921 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 valued at $198,000 after purchasing an additional 1,037 shares during the period. Creative Planning bought a new stake in shares of Lindblad Expeditions during the second quarter valued at about $174,000. JPMorgan Chase & Co. raised its stake in shares of Lindblad Expeditions by 78.9% during the second quarter. JPMorgan Chase & Co. now owns 311,363 shares of the company's stock valued at $3,634,000 after purchasing an additional 137,312 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Lindblad Expeditions by 8.1% in the second quarter. Rhumbline Advisers now owns 55,012 shares of the company's stock worth $642,000 after purchasing an additional 4,114 shares during the period. Institutional investors own 75.94% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Benchmark increased their target price on shares of Lindblad Expeditions from $25.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Stifel Nicolaus set a $37.00 price target on shares of Lindblad Expeditions in a research report on Tuesday, August 4th. Capital One Financial set a $31.00 price target on shares of Lindblad Expeditions in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft set a $29.00 price objective on shares of Lindblad Expeditions in a report on Thursday, August 6th. Finally, Wall Street Zen cut Lindblad Expeditions from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $31.20.

Lindblad Expeditions Trading Down 2.4%

Shares of Lindblad Expeditions stock opened at $32.77 on Tuesday. The company's 50-day moving average price is $28.10 and its two-hundred day moving average price is $22.32. Lindblad Expeditions has a 52 week low of $11.37 and a 52 week high of $35.00. The stock has a market cap of $2.15 billion, a PE ratio of -86.24 and a beta of 2.24.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate 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, equities analysts predict that Lindblad Expeditions will post 0.17 EPS for the current fiscal year.

Insider Activity at Lindblad Expeditions

In other Lindblad Expeditions news, insider Trey Byus sold 10,000 shares of Lindblad Expeditions stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $20.05, for a total value of $200,500.00. Following the transaction, the insider owned 101,530 shares in the company, valued at approximately $2,035,676.50. The trade was a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Elliott Bisnow sold 44,642 shares of the company's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $24.21, for a total value of $1,080,782.82. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 56,642 shares of company stock valued at $1,321,803 over the last ninety days. 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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