Lindblad Expeditions (NASDAQ:LIND) Reaches New 1-Year High on Earnings Beat

Lindblad Expeditions (NASDAQ:LIND)’s share price reached a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $34.50 and last traded at $33.12, with a volume of 1979171 shares traded. The stock had previously closed at $29.58.

The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.08. The company had revenue of $199.25 million for 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%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Lindblad Expeditions in a research report on Friday, July 17th. Zacks Research raised shares of Lindblad Expeditions from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Stifel Nicolaus set a $37.00 price target on shares of Lindblad Expeditions in a research report on Tuesday. Wall Street Zen raised shares of Lindblad Expeditions from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Capital One Financial set a $31.00 price objective on Lindblad Expeditions in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.20.

Insider Activity at Lindblad Expeditions

In related news, Director John M. Fahey, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $20.26, for a total transaction of $40,520.00. Following the completion of the sale, the director directly owned 112,486 shares in the company, valued at approximately $2,278,966.36. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Elliott Bisnow sold 44,642 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $24.21, for a total transaction of $1,080,782.82. Following the completion of the transaction, the director owned 25,872 shares in the company, valued at $626,361.12. The trade was a 63.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 88,602 shares of company stock valued at $1,966,009. 26.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lindblad Expeditions

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC boosted its position in shares of Lindblad Expeditions by 115.1% during the third quarter. Millennium Management LLC now owns 834,162 shares of the company’s stock worth $10,677,000 after buying an additional 446,294 shares during the period. Arrowstreet Capital Limited Partnership raised 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. UBS Group AG raised its holdings in shares of Lindblad Expeditions by 57.9% in the 4th quarter. UBS Group AG now owns 833,372 shares of the company’s stock valued at $12,017,000 after buying an additional 305,704 shares during the period. Dimensional Fund Advisors LP lifted its stake in Lindblad Expeditions by 59.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 786,119 shares of the company’s stock worth $13,598,000 after acquiring an additional 291,776 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Lindblad Expeditions by 96.8% during the 1st quarter. Bank of America Corp DE now owns 546,832 shares of the company’s stock valued at $9,460,000 after acquiring an additional 269,039 shares during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.

Lindblad Expeditions Trading Up 0.1%

The company has a market capitalization of $2.24 billion, a PE ratio of -89.76 and a beta of 2.24. The business has a fifty day moving average of $26.29 and a 200 day moving average of $21.34.

About Lindblad Expeditions

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.