Lindblad Expeditions (NASDAQ:LIND) Stock Rating Cut to “Hold” at Zacks Research

Lindblad Expeditions (NASDAQ:LIND) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday, Zacks reports.

Several other equities analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $30.00 target price on shares of Lindblad Expeditions in a research note on Thursday, September 17th. Jefferies Financial Group increased their price objective on Lindblad Expeditions from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, October 8th. Wall Street Zen lowered shares of Lindblad Expeditions from a “buy” rating to a “hold” rating in a report on Saturday. Stifel Nicolaus set a $43.00 price target on shares of Lindblad Expeditions in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lindblad Expeditions in a report on Thursday, October 15th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.50.

Lindblad Expeditions Stock Up 7.6%

Shares of NASDAQ LIND opened at $33.98 on Thursday. The stock has a market cap of $2.23 billion, a P/E ratio of -1,699.00 and a beta of 2.27. Lindblad Expeditions has a fifty-two week low of $11.37 and a fifty-two week high of $38.85. The firm’s 50-day simple moving average is $31.53 and its 200 day simple moving average is $24.85.

Lindblad Expeditions (NASDAQ:LIND) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Lindblad Expeditions had a negative net margin of 2.08% and a negative return on equity of 0.56%. The company had revenue of $269.15 million during the quarter, compared to analyst estimates of $263.54 million. On average, sell-side analysts anticipate that Lindblad Expeditions will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sven-Olof Lindblad sold 97,470 shares of the firm’s stock in a transaction 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 sale, the director directly owned 10,351,502 shares in the company, valued at approximately $375,034,917.46. This trade represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 750,000 shares of company stock valued at $26,532,349. Insiders own 26.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LIND. BlackRock Inc. acquired a new position in Lindblad Expeditions in the second quarter valued at about $122,583,000. Pinnacle Associates Ltd. increased its holdings in Lindblad Expeditions by 8.0% in 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 during the last quarter. Principal Financial Group Inc. raised its position 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 buying an additional 46,955 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Lindblad Expeditions by 44.7% in the first 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 period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Lindblad Expeditions during the second quarter valued at approximately $19,362,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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.