Pinnacle Associates Ltd. Cuts Stake in Lindblad Expeditions $LIND

Pinnacle Associates Ltd. reduced its holdings in shares of Lindblad Expeditions (NASDAQ:LIND) by 3.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 920,798 shares of the company’s stock after selling 32,730 shares during the period. Pinnacle Associates Ltd.’s holdings in Lindblad Expeditions were worth $10,746,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Lindblad Expeditions by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 2,270,726 shares of the company’s stock worth $21,050,000 after buying an additional 55,003 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Lindblad Expeditions in the 2nd quarter valued at approximately $1,405,000. Anchor Capital Management Company LLC increased its position in shares of Lindblad Expeditions by 7.6% in the 1st quarter. Anchor Capital Management Company LLC now owns 1,644,903 shares of the company’s stock valued at $15,248,000 after purchasing an additional 115,814 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Lindblad Expeditions by 30.6% in the 1st quarter. Panagora Asset Management Inc. now owns 160,232 shares of the company’s stock valued at $1,485,000 after purchasing an additional 37,512 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Lindblad Expeditions in the 1st quarter valued at approximately $1,257,000. 75.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lindblad Expeditions

In other news, CEO Benjamin Bressler sold 21,137 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $15.01, for a total value of $317,266.37. Following the completion of the sale, the chief executive officer owned 23,466 shares in the company, valued at approximately $352,224.66. This trade represents a 47.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Trey Byus sold 16,585 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $14.88, for a total transaction of $246,784.80. Following the completion of the sale, the insider owned 128,996 shares of the company’s stock, valued at $1,919,460.48. This trade represents a 11.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 521,228 shares of company stock valued at $7,292,752 in the last 90 days. Company insiders own 34.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LIND shares. Zacks Research raised shares of Lindblad Expeditions from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lindblad Expeditions in a research report on Wednesday, October 8th. Stifel Nicolaus set a $18.00 price objective on shares of Lindblad Expeditions and gave the company a “buy” rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen downgraded shares of Lindblad Expeditions from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Lindblad Expeditions Price Performance

Shares of NASDAQ:LIND opened at $12.06 on Friday. The stock has a market cap of $660.77 million, a P/E ratio of -40.20 and a beta of 2.58. The firm has a fifty day moving average price of $13.01 and a 200 day moving average price of $11.87. Lindblad Expeditions has a 1-year low of $7.45 and a 1-year high of $15.06.

Lindblad Expeditions (NASDAQ:LIND) last issued its quarterly earnings results on Monday, August 4th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.11. The business had revenue of $167.95 million for the quarter, compared to analyst estimates of $158.97 million. Lindblad Expeditions has set its FY 2025 guidance at EPS. Sell-side analysts expect that Lindblad Expeditions will post -0.43 EPS for the current fiscal year.

Lindblad Expeditions Profile

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.