Lindblad Expeditions (NASDAQ:LIND) Shares Gap Up Following 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)'s stock price 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 changing hands.

The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.11. The company had revenue of $167.95 million for the quarter, compared to the consensus estimate of $158.97 million.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wall Street Zen cut shares of Lindblad Expeditions from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Stifel Nicolaus set a $18.00 price objective on shares of Lindblad Expeditions and gave the company a "buy" rating in a research report on Tuesday. Finally, Craig Hallum set a $16.00 price objective on shares of Lindblad Expeditions and gave the company a "buy" rating in a research report on Friday, May 23rd.

Insider Buying and Selling

In other news, CEO Benjamin Bressler sold 167,494 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $13.05, for a total transaction of $2,185,796.70. Following the completion of the sale, the chief executive officer owned 23,466 shares of the company's stock, valued at approximately $306,231.30. This represents a 87.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 222,386 shares of company stock worth $2,900,718 over the last 90 days. 34.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ariel Investments LLC grew its holdings in shares of Lindblad Expeditions by 6.0% during the 1st quarter. Ariel Investments LLC now owns 7,777,768 shares of the company's stock valued at $72,100,000 after purchasing an additional 441,046 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Lindblad Expeditions by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 2,270,726 shares of the company's stock valued at $21,050,000 after acquiring an additional 55,003 shares in the last quarter. Anchor Capital Management Company LLC increased its stake 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 valued at $15,248,000 after purchasing an additional 115,814 shares in the last quarter. Penn Capital Management Company LLC increased its stake 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 valued at $8,766,000 after purchasing an additional 494,709 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Lindblad Expeditions by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 899,844 shares of the company's stock worth $10,503,000 after acquiring an additional 18,638 shares in the last quarter. Institutional investors own 75.94% of the company's stock.

Lindblad Expeditions Stock Performance

The company's 50 day moving average price is $11.93 and its 200-day moving average price is $10.90. The stock has a market cap of $677.20 million, a P/E ratio of -41.20 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.