Lindblad Expeditions $LIND Shares Sold by Penn Capital Management Company LLC

Key Points

• Penn Capital Management cut its Lindblad Expeditions stake by 28.9% in the second quarter, selling 242,151 shares and retaining 595,133 shares valued at approximately $16.8 million.
• Institutional investors and hedge funds own 75.94% of Lindblad’s shares, while an insider sale reduced Director Michael Bisnow’s holdings by 63.31%.
• Lindblad exceeded quarterly earnings and revenue expectations, but analysts maintain a consensus “Hold” rating with a $31.20 target price; the stock recently opened at $29.59.

Penn Capital Management Company LLC lowered its position in Lindblad Expeditions (NASDAQ:LIND - Free Report) by 28.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 595,133 shares of the company's stock after selling 242,151 shares during the quarter. Penn Capital Management Company LLC owned about 0.91% of Lindblad Expeditions worth $16,823,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LIND. Allworth Financial LP purchased a new position in Lindblad Expeditions in the second quarter worth approximately $38,000. Osaic Holdings Inc. lifted its stake in shares of Lindblad Expeditions by 58.1% in the 2nd quarter. Osaic Holdings Inc. now owns 3,597 shares of the company's stock valued at $41,000 after purchasing an additional 1,322 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Lindblad Expeditions by 222.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,802 shares of the company's stock worth $56,000 after purchasing an additional 3,311 shares during the period. Kemnay Advisory Services Inc. purchased a new position in shares of Lindblad Expeditions during the 4th quarter worth $57,000. Finally, Silvant Capital Management LLC acquired a new stake in shares of Lindblad Expeditions during the 2nd quarter worth about $58,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lindblad Expeditions

In other Lindblad Expeditions 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 value of $1,080,782.82. Following the sale, the director owned 25,872 shares of the company's stock, valued at $626,361.12. This trade represents a 63.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 26.10% of the stock is owned by corporate insiders.

Lindblad Expeditions Stock Down 1.6%

NASDAQ:LIND opened at $29.59 on Friday. The company has a fifty day simple moving average of $29.44 and a two-hundred day simple moving average of $23.15. The company 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 52 week low of $11.37 and a 52 week high of $35.00.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.08. The business had revenue of $199.25 million for the quarter, compared to analysts' expectations of $185.86 million. Lindblad Expeditions had a negative return on equity of 0.56% and a negative net margin of 2.08%. On average, analysts expect that Lindblad Expeditions will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Capital One Financial set a $31.00 price target on shares of Lindblad Expeditions in a research report on Monday, June 29th. Zacks Research lowered shares of Lindblad Expeditions from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. Benchmark increased their price objective on shares of Lindblad Expeditions from $25.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Stifel Nicolaus set a $37.00 target price on shares of Lindblad Expeditions in a report on Tuesday, August 4th. Finally, Wall Street Zen raised Lindblad Expeditions from a "hold" rating to a "buy" rating in a research report on Saturday. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company 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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