Lindblad Expeditions (NASDAQ:LIND) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Lindblad Expeditions from “Buy” to “Hold.” Despite mixed analyst opinions, the stock retains a “Moderate Buy” consensus rating with an average price target of $31.20.
• Lindblad reported a quarterly loss of $0.02 per share, beating estimates for a $0.10 loss, while revenue of $199.25 million exceeded the $185.86 million consensus forecast.
• Shares opened at $33.95, near the company’s 52-week high of $34.95. Insiders sold 88,602 shares worth approximately $1.97 million over the past 90 days, while institutional investors own 75.94% of the stock.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other research analysts also recently commented on LIND. Deutsche Bank Aktiengesellschaft set a $29.00 price objective on shares of Lindblad Expeditions in a research note on Thursday. Zacks Research upgraded shares of Lindblad Expeditions from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 10th. Benchmark increased their price target 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. Texas Capital downgraded Lindblad Expeditions from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Lindblad Expeditions in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $31.20.

Lindblad Expeditions Stock Down 0.4%

Shares of LIND opened at $33.95 on Friday. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -89.34 and a beta of 2.24. The business's 50 day moving average is $26.73 and its two-hundred day moving average is $21.55. Lindblad Expeditions has a 52-week low of $11.37 and a 52-week high of $34.95.

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 at Lindblad Expeditions

In other Lindblad Expeditions news, Director John M. Fahey, Jr. sold 2,000 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $20.26, for a total transaction of $40,520.00. Following the sale, the director directly owned 112,486 shares of the company's stock, valued at approximately $2,278,966.36. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Elliott Bisnow sold 44,642 shares of the firm's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $24.21, for a total transaction of $1,080,782.82. Following the completion of the transaction, the director owned 25,872 shares in the company, valued at approximately $626,361.12. The trade was a 63.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 88,602 shares of company stock worth $1,966,009 over the last 90 days. Insiders own 26.10% of the company's stock.

Hedge Funds Weigh In On Lindblad Expeditions

A number of large investors have recently bought and sold shares of the business. Osaic Holdings Inc. grew its holdings in shares of Lindblad Expeditions by 58.1% during the second 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 lifted its holdings in shares of Lindblad Expeditions by 222.1% in 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 last quarter. Kemnay Advisory Services Inc. acquired a new position in Lindblad Expeditions during the 4th quarter valued at approximately $57,000. Royal Bank of Canada boosted its position in Lindblad Expeditions by 127.1% during the 4th quarter. Royal Bank of Canada now owns 4,494 shares of the company's stock valued at $65,000 after purchasing an additional 2,515 shares during the period. Finally, Assetmark Inc. grew its stake in Lindblad Expeditions by 77.0% during the 1st quarter. Assetmark Inc. now owns 5,455 shares of the company's stock worth $94,000 after buying an additional 2,373 shares during the last quarter. Institutional investors own 75.94% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source