Lindblad Expeditions (NASDAQ:LIND) Shares Gap Up Following Earnings Beat

Lindblad Expeditions (NASDAQ:LIND)’s stock price gapped up prior to trading on Monday following a better than expected earnings announcement. The stock had previously closed at $11.73, but opened at $12.78. Lindblad Expeditions shares last traded at $11.74, with a volume of 83,926 shares trading hands.

The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.11. The company had revenue of $167.95 million for the quarter, compared to analyst estimates of $158.97 million.

Wall Street Analysts Forecast Growth

LIND has been the subject of several research analyst reports. Wall Street Zen cut shares of Lindblad Expeditions from a “buy” rating to a “hold” rating in a research note on Saturday. Craig Hallum set a $16.00 target price on shares of Lindblad Expeditions and gave the company a “buy” rating in a research note on Friday, May 23rd.

Insider Activity

In other news, CEO Benjamin Bressler sold 47,325 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $13.02, for a total value of $616,171.50. Following the completion of the transaction, the chief executive officer owned 1,310,460 shares in the company, valued at approximately $17,062,189.20. This represents a 3.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 34.00% of the company’s stock.

Hedge Funds Weigh In On Lindblad Expeditions

A number of hedge funds have recently made changes to their positions in the business. Ariel Investments LLC raised its stake in shares of Lindblad Expeditions by 6.0% in the 1st quarter. Ariel Investments LLC now owns 7,777,768 shares of the company’s stock valued at $72,100,000 after buying an additional 441,046 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Lindblad Expeditions by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 2,270,726 shares of the company’s stock valued at $21,050,000 after buying an additional 55,003 shares in the last quarter. Anchor Capital Management Company LLC increased its position in shares of Lindblad Expeditions by 7.6% during the 1st quarter. Anchor Capital Management Company LLC now owns 1,644,903 shares of the company’s stock worth $15,248,000 after purchasing an additional 115,814 shares in the last quarter. Penn Capital Management Company LLC increased its position in shares of Lindblad Expeditions by 110.0% during the 1st quarter. Penn Capital Management Company LLC now owns 944,505 shares of the company’s stock worth $8,766,000 after purchasing an additional 494,709 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC increased its position in shares of Lindblad Expeditions by 29.6% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 739,108 shares of the company’s stock worth $8,766,000 after purchasing an additional 168,958 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Lindblad Expeditions Stock Performance

The firm has a market cap of $675.67 million, a price-to-earnings ratio of -20.58 and a beta of 2.71. The business’s 50-day moving average is $11.75 and its 200-day moving average is $10.87.

About Lindblad Expeditions

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.