Lindblad Expeditions (NASDAQ:LIND) Trading Down 4.8% - Here's What Happened

Key Points

• Lindblad Expeditions shares fell 4.8% to about $28.16, with trading volume down 89% from the average session.
• Analyst sentiment is mixed: four analysts rate the stock a Buy, three Hold, and one Sell, resulting in an overall “Hold” rating and a consensus price target of $31.20.
• The company exceeded quarterly expectations, reporting an adjusted loss of $0.02 per share versus the expected $0.10 loss and revenue of $199.25 million versus estimates of $185.86 million.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) was down 4.8% during trading on Monday . The stock traded as low as $28.15 and last traded at $28.1630. 86,793 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 813,089 shares. The stock had previously closed at $29.59.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LIND. Benchmark increased their price objective on Lindblad Expeditions from $25.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Capital One Financial set a $31.00 target price on shares of Lindblad Expeditions in a research note on Monday, June 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lindblad Expeditions in a report on Friday, July 17th. Deutsche Bank Aktiengesellschaft set a $29.00 price target on shares of Lindblad Expeditions in a research report on Thursday, August 6th. Finally, Texas Capital downgraded shares of Lindblad Expeditions from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $31.20.

Lindblad Expeditions Trading Down 7.4%

The company has a market cap of $1.80 billion, a price-to-earnings ratio of -72.11 and a beta of 2.24. The company has a fifty day moving average price of $29.44 and a two-hundred day moving average price of $23.17.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.08. The business had revenue of $199.25 million during the quarter, compared to analyst estimates of $185.86 million. Lindblad Expeditions had a negative return on equity of 0.56% and a negative net margin of 2.08%. Sell-side analysts anticipate that Lindblad Expeditions will post 0.17 EPS for the current fiscal year.

Insider Transactions at Lindblad Expeditions

In other news, Director Michael Elliott Bisnow sold 44,642 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $24.21, for a total value 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. This represents a 63.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 26.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp bought a new position in Lindblad Expeditions in the first quarter valued at approximately $650,000. Deutsche Bank AG bought a new stake in shares of Lindblad Expeditions during the 2nd quarter valued at $1,467,000. Pier Capital LLC lifted its stake in shares of Lindblad Expeditions by 21.6% in the 4th quarter. Pier Capital LLC now owns 577,479 shares of the company's stock valued at $8,327,000 after purchasing an additional 102,770 shares during the period. Calamos Advisors LLC bought a new position in shares of Lindblad Expeditions in the 1st quarter worth $1,505,000. Finally, Nicholas Investment Partners LP acquired a new stake in shares of Lindblad Expeditions during the second quarter worth $9,587,000. Institutional investors and hedge funds own 75.94% of the company's stock.

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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