Lindblad Expeditions (NASDAQ:LIND) Shares Gap Up on Better-Than-Expected Earnings

Key Points

• Lindblad Expeditions' shares opened at $12.78, up from a previous close of $11.73, following a better-than-expected earnings report where the company posted an EPS of ($0.18), surpassing estimates.
• The company reported revenues of $167.95 million for the quarter, exceeding analysts' expectations of $158.97 million.
• CEO Benjamin Bressler sold 47,325 shares at an average price of $13.02, leading to a 3.49% decrease in his holdings of the company's stock.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) gapped up prior to trading on Monday following a stronger than expected earnings report. The stock had previously closed at $11.73, but opened at $12.78. Lindblad Expeditions shares last traded at $11.74, with a volume of 83,926 shares traded.

The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.11. The business had revenue of $167.95 million for the quarter, compared to analysts' expectations of $158.97 million.

Analyst Ratings Changes

LIND has been the subject of several analyst reports. Wall Street Zen lowered Lindblad Expeditions from a "buy" rating to a "hold" rating in a report on Saturday. Craig Hallum set a $16.00 price objective on Lindblad Expeditions and gave the company a "buy" rating in a report on Friday, May 23rd.

Insider Activity

In related news, CEO Benjamin Bressler sold 47,325 shares of the company's stock in a transaction on 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. This represents a 3.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 34.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lindblad Expeditions

Hedge funds have recently made changes to their positions in the company. Ariel Investments LLC grew its position in Lindblad Expeditions by 6.0% during the 1st quarter. Ariel Investments LLC now owns 7,777,768 shares of the company's stock worth $72,100,000 after purchasing an additional 441,046 shares during the period. Vanguard Group Inc. grew its position in Lindblad Expeditions by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 2,270,726 shares of the company's stock worth $21,050,000 after purchasing an additional 55,003 shares during the period. Anchor Capital Management Company LLC grew its position in Lindblad Expeditions by 7.6% during the 1st quarter. Anchor Capital Management Company LLC now owns 1,644,903 shares of the company's stock worth $15,248,000 after purchasing an additional 115,814 shares during the period. Penn Capital Management Company LLC grew its position in Lindblad Expeditions by 110.0% during the 1st quarter. Penn Capital Management Company LLC now owns 944,505 shares of the company's stock worth $8,766,000 after purchasing an additional 494,709 shares during the period. Finally, Silvercrest Asset Management Group LLC grew its position in Lindblad Expeditions by 29.6% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 739,108 shares of the company's stock worth $8,766,000 after purchasing an additional 168,958 shares during the period. 75.94% of the stock is owned by institutional investors and hedge funds.

Lindblad Expeditions Trading Down 0.1%

The firm has a 50-day simple moving average of $11.70 and a two-hundred day simple moving average of $10.86. The company has a market capitalization of $640.93 million, a price-to-earnings ratio of -19.53 and a beta of 2.71.

About Lindblad Expeditions

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.

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