Lindblad Expeditions (NASDAQ:LIND) Shares Down 8.7% – Time to Sell?

Lindblad Expeditions (NASDAQ:LIND)’s stock price dropped 8.7% during mid-day trading on Tuesday. The stock traded as low as $33.76 and last traded at $33.4610. 72,671 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 836,092 shares. The stock had previously closed at $36.66.

Analyst Ratings Changes

A number of research firms have weighed in on LIND. Weiss Ratings reissued a “sell (d-)” rating on shares of Lindblad Expeditions in a research report on Thursday, October 15th. Wall Street Zen raised Lindblad Expeditions from a “hold” rating to a “buy” rating in a research report on Sunday, September 20th. Jefferies Financial Group boosted their price target on Lindblad Expeditions from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, October 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $30.00 price target on shares of Lindblad Expeditions in a report on Thursday, September 17th. Finally, Stifel Nicolaus set a $43.00 price objective on Lindblad Expeditions in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Lindblad Expeditions Stock Down 5.8%

The firm’s 50-day moving average price is $31.45 and its 200 day moving average price is $24.68. The firm has a market cap of $2.07 billion, a P/E ratio of -1,578.50 and a beta of 2.27.

Lindblad Expeditions (NASDAQ:LIND) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Lindblad Expeditions had a net margin of 0.67% and a negative return on equity of 2.59%. The business had revenue of $269.15 million for the quarter, compared to analyst estimates of $263.54 million. On average, equities analysts predict that Lindblad Expeditions will post 0.22 earnings per share for the current year.

Insider Buying and Selling at Lindblad Expeditions

In other Lindblad Expeditions news, Director Sven-Olof Lindblad sold 97,470 shares of the company’s stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $36.23, for a total value of $3,531,338.10. Following the transaction, the director owned 10,351,502 shares in the company, valued at approximately $375,034,917.46. This represents a 0.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 750,000 shares of company stock worth $26,532,349 in the last quarter. Insiders own 26.10% of the company’s stock.

Hedge Funds Weigh In On Lindblad Expeditions

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Lindblad Expeditions in the second quarter worth about $122,583,000. Pinnacle Associates Ltd. boosted its stake in shares of Lindblad Expeditions by 8.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 864,233 shares of the company’s stock worth $27,163,000 after acquiring an additional 64,185 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Lindblad Expeditions by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,529,868 shares of the company’s stock valued at $26,467,000 after acquiring an additional 46,955 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Lindblad Expeditions by 44.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,272,909 shares of the company’s stock valued at $22,021,000 after acquiring an additional 393,359 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Lindblad Expeditions in the 2nd quarter valued at approximately $19,362,000. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

About Lindblad Expeditions

Lindblad Expeditions Holdings, Inc (NASDAQ:LIND) operates expedition cruises and adventure travel experiences focused on nature, culture and education. Through its Lindblad Expeditions brand, the company provides small-ship voyages designed to take travelers to remote destinations while emphasizing exploration, conservation and expert-led interpretation.

The company’s offerings include ocean and river expeditions, wildlife-focused voyages, cultural journeys and land-based adventures. Trips commonly feature naturalists, historians, photographers and other specialists, along with activities such as shore excursions, hiking, kayaking, snorkeling and wildlife observation.