Lindblad Expeditions (NASDAQ:LIND) Holdings Decreased by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates Ltd. has reduced its holdings in Lindblad Expeditions by 4.7%, now owning approximately 1.75% of the company valued at about $8.84 million.
• Institutional investors collectively own 75.94% of Lindblad Expeditions' stock, indicating strong institutional interest in the company.
• Analysts have recently upgraded Lindblad's stock rating from "hold" to "buy," with a target price set at $16.00 by Craig Hallum.

Pinnacle Associates Ltd. trimmed its position in shares of Lindblad Expeditions (NASDAQ:LIND - Free Report) by 4.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 953,528 shares of the company's stock after selling 47,364 shares during the period. Pinnacle Associates Ltd. owned about 1.75% of Lindblad Expeditions worth $8,839,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LIND. Charles Schwab Investment Management Inc. increased its stake in Lindblad Expeditions by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 311,883 shares of the company's stock valued at $3,699,000 after purchasing an additional 16,097 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Lindblad Expeditions during the fourth quarter worth approximately $216,000. Raymond James Financial Inc. purchased a new position in shares of Lindblad Expeditions during the fourth quarter worth approximately $2,415,000. KLP Kapitalforvaltning AS purchased a new position in shares of Lindblad Expeditions during the fourth quarter worth approximately $110,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Lindblad Expeditions by 59.4% during the fourth quarter. JPMorgan Chase & Co. now owns 514,214 shares of the company's stock worth $6,099,000 after purchasing an additional 191,546 shares during the period. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LIND shares. Wall Street Zen raised Lindblad Expeditions from a "hold" rating to a "buy" rating in a report on Saturday, June 28th. Craig Hallum set a $16.00 target price on Lindblad Expeditions and gave the company a "buy" rating in a report on Friday, May 23rd.

Lindblad Expeditions Stock Performance

Lindblad Expeditions stock traded down $0.31 during midday trading on Monday, reaching $11.88. 85,380 shares of the company were exchanged, compared to its average volume of 312,557. The company has a market capitalization of $649.93 million, a price-to-earnings ratio of -19.80 and a beta of 2.65. The firm's 50-day simple moving average is $11.54 and its 200-day simple moving average is $10.86. Lindblad Expeditions has a 1 year low of $6.76 and a 1 year high of $14.34.

Insider Buying and Selling at Lindblad Expeditions

In other news, CEO Benjamin Bressler sold 47,325 shares of Lindblad Expeditions stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $13.02, for a total value of $616,171.50. Following the transaction, the chief executive officer directly owned 1,310,460 shares of the company's stock, valued at $17,062,189.20. The trade was a 3.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 34.00% of the stock is owned by corporate insiders.

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.