Short Interest in Lindblad Expeditions (NASDAQ:LIND) Expands By 12.7%

Key Points

• Short interest rose by 12.7% in April to 4,339,949 shares, equal to 10.1% of shares outstanding and a 7.4-day short-interest ratio based on average daily volume.
• The company reported quarterly EPS of -$0.45 (missing the -$0.32 estimate) but beat on revenue at $183.18M; the stock trades near $18.53 with a market cap of about $1.21B and a 52‑week range of $8.90–$21.59.
• Analysts rate LIND a consensus "Moderate Buy" with an average price target of $22.25, while insiders have sold material stock recently (762,452 shares in the last 90 days) even though insiders own ~34% and institutions ~75.9%.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 4,339,949 shares, an increase of 12.7% from the March 31st total of 3,852,212 shares. Based on an average daily volume of 590,166 shares, the short-interest ratio is presently 7.4 days. Currently, 10.1% of the shares of the stock are sold short.

Lindblad Expeditions Stock Performance

NASDAQ:LIND opened at $18.53 on Friday. The stock's fifty day moving average price is $18.43 and its two-hundred day moving average price is $15.83. Lindblad Expeditions has a 52-week low of $8.90 and a 52-week high of $21.59. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -29.41 and a beta of 2.25.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.13). The business had revenue of $183.18 million during the quarter, compared to analysts' expectations of $167.66 million. On average, equities analysts predict that Lindblad Expeditions will post 0.06 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John M. Fahey, Jr. sold 7,768 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $17.66, for a total value of $137,182.88. Following the sale, the director directly owned 122,986 shares in the company, valued at approximately $2,171,932.76. This represents a 5.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sven-Olof Lindblad sold 28,002 shares of the business's stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $17.61, for a total transaction of $493,115.22. Following the completion of the sale, the director owned 10,783,962 shares in the company, valued at $189,905,570.82. This represents a 0.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 762,452 shares of company stock valued at $13,367,159. 34.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LIND. AQR Capital Management LLC lifted its position in Lindblad Expeditions by 44.4% during the 1st quarter. AQR Capital Management LLC now owns 15,994 shares of the company's stock valued at $148,000 after purchasing an additional 4,921 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Lindblad Expeditions by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,329 shares of the company's stock valued at $198,000 after purchasing an additional 1,037 shares during the period. Creative Planning acquired a new position in Lindblad Expeditions during the 2nd quarter valued at about $174,000. JPMorgan Chase & Co. lifted its stake in shares of Lindblad Expeditions by 78.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 311,363 shares of the company's stock valued at $3,634,000 after purchasing an additional 137,312 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Lindblad Expeditions by 8.1% in the 2nd quarter. Rhumbline Advisers now owns 55,012 shares of the company's stock valued at $642,000 after purchasing an additional 4,114 shares during the period. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on LIND shares. Benchmark boosted their target price on shares of Lindblad Expeditions from $18.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Oppenheimer assumed coverage on shares of Lindblad Expeditions in a research note on Monday, March 16th. They issued an "outperform" rating and a $25.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Lindblad Expeditions in a report on Tuesday, April 21st. Stifel Nicolaus boosted their target price on Lindblad Expeditions from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Monday, January 12th. Finally, Zacks Research downgraded Lindblad Expeditions from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 4th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $22.25.

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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