Anchor Capital Management’s Top 5 Stock Picks in 2024

Below we present the list of Anchor Capital Management’s Top 5 Stock Picks in 2024. For our methodology and some background on Clarence Dunnagan’s Anchor Capital Management, please see Anchor Capital Management’s Top 9 Stock Picks and Former Holdings in 2024.

5. Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND)

Value of Anchor Capital Management’s 13F Position (3/31/2024): $8.17 million

Number of Hedge Fund Shareholders (12/31/2023): 14

First up among Anchor Capital Management’s top five stock picks for 2024 is Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND), which operates a small fleet of cruise line and expedition ships and offers experiential travel adventures to clients in remote regions of the world, in partnership with National Geographic.

Clarence Dunnagan’s fund raised its stake in Lindblad Expeditions by 128% during the first quarter to 876,070 shares, elevating the position from its smallest holding a quarter earlier to its fifth-largest.

Chuck Royce’s Royce and Associates, which has been a Lindblad shareholder since the fourth quarter of 2015, also raised its stake in the company by 12% during Q4 2023 to 1.39 million shares.

In addition to hedge fund ownership, another important metric for investors to pay attention to is insider trading, particularly insider buying activity. Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) Director Alex Schultz purchased 33,016 shares of the company on April 19 at an average price of $7.47, which suggests the insider has great confidence in the future outlook of the company. Lindblad’s overall insider ownership is high, at about 31%.

Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) beat revenue estimates in Q1, growing revenue by 7.1% year-over-year to $153.6 million. The company reported that its strong bookings momentum from 2023 has carried over into the first three months of 2024, which it aims to capitalize on through a growing portfolio of assets.

The company recently announced the acquisition of Wineland-Thompson Adventures, a family-oriented adventure travel operator, expanding Lindblad’s travel offerings into Tanzania and East Africa.