Lindblad Expeditions (NASDAQ:LIND) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Lindblad Expeditions (NASDAQ:LIND) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

A number of other research firms also recently weighed in on LIND. Benchmark raised their price target on Lindblad Expeditions from $25.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Stifel Nicolaus set a $37.00 price target on Lindblad Expeditions in a research note on Tuesday, August 4th. Capital One Financial set a $31.00 price objective on Lindblad Expeditions in a report on Monday, June 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lindblad Expeditions in a research report on Friday, July 17th. Finally, Wall Street Zen lowered shares of Lindblad Expeditions from a “buy” rating to a “hold” rating in a research note on Saturday. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.20.

Lindblad Expeditions Trading Down 0.6%

NASDAQ LIND opened at $32.84 on Monday. Lindblad Expeditions has a 1-year low of $11.37 and a 1-year high of $34.95. The firm’s fifty day simple moving average is $27.13 and its 200-day simple moving average is $21.83. The company has a market capitalization of $2.15 billion, a PE ratio of -86.42 and a beta of 2.24.

Lindblad Expeditions (NASDAQ:LIND) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.08. Lindblad Expeditions had a negative return on equity of 0.56% and a negative net margin of 2.08%.The firm had revenue of $199.25 million during the quarter, compared to analysts’ expectations of $185.86 million. As a group, analysts predict that Lindblad Expeditions will post 0.17 EPS for the current year.

Insider Activity

In related news, insider Trey Byus sold 10,000 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $20.05, for a total transaction of $200,500.00. Following the completion of the sale, the insider directly owned 101,530 shares of the company’s stock, valued at approximately $2,035,676.50. This represents a 8.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Elliott Bisnow sold 44,642 shares of the firm’s stock in a transaction on 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. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 57,642 shares of company stock valued at $1,341,193 over the last 90 days. 26.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP acquired a new stake in shares of Lindblad Expeditions in the second quarter valued at about $38,000. Osaic Holdings Inc. lifted its position in shares of Lindblad Expeditions by 58.1% during the 2nd quarter. Osaic Holdings Inc. now owns 3,597 shares of the company’s stock worth $41,000 after purchasing an additional 1,322 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Lindblad Expeditions by 222.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,802 shares of the company’s stock worth $56,000 after purchasing an additional 3,311 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Lindblad Expeditions during the 4th quarter worth about $57,000. Finally, Silvant Capital Management LLC bought a new stake in Lindblad Expeditions during the 2nd quarter valued at approximately $58,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Lindblad Expeditions Company Profile

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.