Texas Capital Downgrades Lindblad Expeditions (NASDAQ:LIND) to Hold

Key Points

• Texas Capital downgraded Lindblad Expeditions from strong-buy to hold, while the broader analyst picture remains mixed with a consensus Hold rating and an average price target of $28.25.
• The company recently posted better-than-expected quarterly results, reporting EPS of $0.09 versus $0.01 expected and revenue of $208.01 million versus $197.24 million forecast.
• Insider selling was notable, with executives and directors selling shares recently, even as institutional investors hold 75.94% of the stock and several firms increased their positions.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) was downgraded by research analysts at Texas Capital from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

A number of other research analysts also recently commented on the stock. Benchmark upped their price objective on shares of Lindblad Expeditions from $25.00 to $34.00 and gave the company a "buy" rating in a research note on Monday. Oppenheimer initiated coverage on shares of Lindblad Expeditions in a research note on Monday, March 16th. They set an "outperform" rating and a $25.00 price target on the stock. Wall Street Zen upgraded shares of Lindblad Expeditions from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Capital One Financial set a $31.00 price target on shares of Lindblad Expeditions in a report on Monday. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Lindblad Expeditions in a research note on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Lindblad Expeditions presently has a consensus rating of "Hold" and an average target price of $28.25.

Lindblad Expeditions Stock Performance

LIND stock opened at $28.35 on Monday. The company has a 50 day moving average price of $21.73 and a two-hundred day moving average price of $18.81. The stock has a market capitalization of $1.86 billion, a P/E ratio of -52.50 and a beta of 2.26. Lindblad Expeditions has a one year low of $11.37 and a one year high of $30.00.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.08. The business had revenue of $208.01 million for the quarter, compared to analyst estimates of $197.24 million. Research analysts forecast that Lindblad Expeditions will post 0.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Lindblad Expeditions

In other news, insider Trey Byus sold 26,460 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $20.23, for a total transaction of $535,285.80. Following the completion of the sale, the insider directly owned 111,530 shares in the company, valued at $2,256,251.90. This trade represents a 19.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John M. Fahey, Jr. sold 3,500 shares of the business's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $20.04, for a total value of $70,140.00. Following the completion of the transaction, the director owned 119,486 shares in the company, valued at approximately $2,394,499.44. This trade represents a 2.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 88,602 shares of company stock valued at $1,966,009 in the last ninety days. Insiders own 26.10% of the company's stock.

Institutional Investors Weigh In On Lindblad Expeditions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Lindblad Expeditions by 1.3% during the third quarter. Vanguard Group Inc. now owns 2,332,262 shares of the company's stock worth $29,853,000 after purchasing an additional 29,642 shares during the last quarter. Anchor Capital Management Company LLC boosted its holdings in Lindblad Expeditions by 7.4% in the third quarter. Anchor Capital Management Company LLC now owns 1,911,106 shares of the company's stock worth $24,462,000 after purchasing an additional 131,203 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Lindblad Expeditions by 3.2% during the first quarter. Principal Financial Group Inc. now owns 1,529,868 shares of the company's stock worth $26,467,000 after purchasing an additional 46,955 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Lindblad Expeditions by 44.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,272,909 shares of the company's stock valued at $22,021,000 after buying an additional 393,359 shares during the period. Finally, Penn Capital Management Company LLC raised its stake in Lindblad Expeditions by 1.7% during the third quarter. Penn Capital Management Company LLC now owns 969,539 shares of the company's stock worth $12,423,000 after acquiring an additional 16,418 shares during the period. Institutional investors 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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