Short Interest in Lindblad Expeditions (NASDAQ:LIND) Decreases By 34.6%

Lindblad Expeditions (NASDAQ:LIND) was the recipient of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 3,911,326 shares, a drop of 34.6% from the February 12th total of 5,983,245 shares. Based on an average trading volume of 824,459 shares, the days-to-cover ratio is presently 4.7 days. Currently, 9.1% of the company’s shares are sold short. Currently, 9.1% of the company’s shares are sold short. Based on an average trading volume of 824,459 shares, the days-to-cover ratio is presently 4.7 days.

Insider Activity

In other Lindblad Expeditions news, Director Sven-Olof Lindblad sold 28,002 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $17.61, for a total value of $493,115.22. Following the completion of the transaction, the director directly owned 10,783,962 shares in the company, valued at approximately $189,905,570.82. The trade was a 0.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jr. Thomas S. Smith sold 56,000 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $17.57, for a total value of $983,920.00. Following the transaction, the director directly owned 45,488 shares in the company, valued at approximately $799,224.16. This represents a 55.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,846,119 shares of company stock valued at $30,929,291 over the last quarter. Insiders own 34.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in shares of Lindblad Expeditions by 495.8% in the third quarter. SG Americas Securities LLC now owns 81,089 shares of the company’s stock valued at $1,038,000 after buying an additional 67,480 shares in the last quarter. Black Diamond Financial LLC lifted its position in Lindblad Expeditions by 13.6% during the 3rd quarter. Black Diamond Financial LLC now owns 1,068,362 shares of the company’s stock worth $13,675,000 after acquiring an additional 127,950 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Lindblad Expeditions by 8.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 578,809 shares of the company’s stock worth $6,755,000 after acquiring an additional 46,284 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Lindblad Expeditions by 108.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 592,985 shares of the company’s stock worth $6,920,000 after acquiring an additional 308,463 shares during the period. Finally, Pier Capital LLC acquired a new stake in Lindblad Expeditions in the third quarter valued at approximately $6,076,000. 75.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LIND has been the topic of a number of research analyst reports. Benchmark raised their price target on Lindblad Expeditions from $18.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Zacks Research cut shares of Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Citigroup initiated coverage on shares of Lindblad Expeditions in a report on Tuesday, December 30th. They issued a “buy” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lindblad Expeditions in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus increased their price target on shares of Lindblad Expeditions from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lindblad Expeditions has an average rating of “Moderate Buy” and a consensus target price of $21.33.

Lindblad Expeditions Price Performance

NASDAQ LIND traded down $0.64 during mid-day trading on Friday, hitting $16.16. The company’s stock had a trading volume of 833,148 shares, compared to its average volume of 825,509. The firm has a market capitalization of $1.05 billion, a P/E ratio of -25.65 and a beta of 2.20. Lindblad Expeditions has a 52-week low of $7.45 and a 52-week high of $21.23. The stock’s fifty day simple moving average is $17.89 and its two-hundred day simple moving average is $14.66.

Lindblad Expeditions (NASDAQ:LIND) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.13). The business had revenue of $183.18 million for the quarter, compared to the consensus estimate of $167.66 million. On average, equities analysts forecast that Lindblad Expeditions will post -0.43 earnings per share for the current fiscal year.

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.