Penn Capital Management Company LLC lessened its holdings in Lindblad Expeditions (NASDAQ:LIND – Free Report) by 28.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 595,133 shares of the company’s stock after selling 242,151 shares during the quarter. Penn Capital Management Company LLC’s holdings in Lindblad Expeditions were worth $16,823,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Lindblad Expeditions during the 2nd quarter worth about $122,583,000. Bank of New York Mellon Corp purchased a new position in shares of Lindblad Expeditions in the 2nd quarter valued at about $19,362,000. Millennium Management LLC raised its position in shares of Lindblad Expeditions by 115.1% during the 3rd quarter. Millennium Management LLC now owns 834,162 shares of the company’s stock worth $10,677,000 after acquiring an additional 446,294 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Lindblad Expeditions by 44.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,272,909 shares of the company’s stock worth $22,021,000 after acquiring an additional 393,359 shares in the last quarter. Finally, Nicholas Investment Partners LP purchased a new stake in Lindblad Expeditions during the second quarter worth approximately $9,587,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.
Lindblad Expeditions Stock Down 1.6%
NASDAQ:LIND opened at $29.59 on Friday. The stock’s 50 day moving average price is $29.44 and its 200 day moving average price is $23.15. The company has a market capitalization of $1.94 billion, a PE ratio of -77.87 and a beta of 2.24. Lindblad Expeditions has a 52-week low of $11.37 and a 52-week high of $35.00.
Wall Street Analysts Forecast Growth
LIND has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lindblad Expeditions in a report on Friday, July 17th. Benchmark boosted their price objective on shares of Lindblad Expeditions from $25.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Texas Capital cut shares of Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Stifel Nicolaus set a $37.00 target price on shares of Lindblad Expeditions in a research report on Tuesday, August 4th. Finally, Capital One Financial set a $31.00 price target on shares of Lindblad Expeditions in a research note on Monday, June 29th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.20.
Get Our Latest Stock Analysis on Lindblad Expeditions
Insider Activity at Lindblad Expeditions
In other news, Director Michael Elliott Bisnow sold 44,642 shares of Lindblad Expeditions stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $24.21, for a total value of $1,080,782.82. Following the transaction, the director directly owned 25,872 shares of the company’s stock, valued at $626,361.12. The trade was a 63.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 26.10% of the stock is owned by insiders.
About Lindblad Expeditions
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.
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