Lindblad Expeditions (NASDAQ:LIND) Stock Price Down 13.3% on Disappointing Earnings

Shares of Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) traded down 13.3% on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $9.78 and last traded at $9.66. 78,614 shares traded hands during trading, a decline of 71% from the average session volume of 268,611 shares. The stock had previously closed at $11.14.

The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.23).

Analyst Ratings Changes

Several research firms have recently issued reports on LIND. Craig Hallum raised their price objective on Lindblad Expeditions from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. StockNews.com upgraded Lindblad Expeditions from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.25.

Insider Buying and Selling at Lindblad Expeditions

In other news, Director John M. Fahey, Jr. sold 7,000 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $11.76, for a total value of $82,320.00. Following the sale, the director now directly owns 123,754 shares in the company, valued at approximately $1,455,347.04. This represents a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 34.30% of the company’s stock.

Hedge Funds Weigh In On Lindblad Expeditions

Several hedge funds have recently bought and sold shares of the business. Penn Capital Management Company LLC bought a new stake in shares of Lindblad Expeditions during the fourth quarter worth $5,335,000. Arrowstreet Capital Limited Partnership purchased a new position in Lindblad Expeditions in the 4th quarter worth about $4,610,000. New York State Common Retirement Fund lifted its holdings in Lindblad Expeditions by 3,496.6% during the 4th quarter. New York State Common Retirement Fund now owns 331,034 shares of the company’s stock valued at $3,926,000 after buying an additional 321,830 shares in the last quarter. Portolan Capital Management LLC boosted its position in Lindblad Expeditions by 109.9% in the 4th quarter. Portolan Capital Management LLC now owns 544,273 shares of the company’s stock valued at $6,455,000 after buying an additional 284,930 shares during the period. Finally, Oberweis Asset Management Inc. bought a new position in Lindblad Expeditions in the 4th quarter worth about $3,155,000. Institutional investors own 75.94% of the company’s stock.

Lindblad Expeditions Price Performance

The stock’s 50-day moving average price is $12.11 and its 200 day moving average price is $11.13. The firm has a market capitalization of $534.19 million, a PE ratio of -13.12 and a beta of 3.11.

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.