The 700+ hedge funds and money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards Lindblad Expeditions Holdings Inc (NASDAQ:LIND).
Lindblad Expeditions Holdings Inc (NASDAQ:LIND) shareholders have witnessed a decrease in activity from the world’s largest hedge funds lately. There were 13 hedge funds in our database with LIND holdings at the end of the second quarter, 2 more than there were a quarter later. At the end of this article we will also compare LIND to other stocks including DXP Enterprises Inc (NASDAQ:DXPE), AAC Holdings Inc (NYSE:AAC), and Genesis Healthcare Inc (NYSE:GEN) to get a better sense of its popularity.
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How are hedge funds trading Lindblad Expeditions Holdings Inc (NASDAQ:LIND)?
At the end of the third quarter, a total of 11 of the hedge funds tracked by Insider Monkey were long this stock, a 15% fall from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards LIND over the last 5 quarters, which has steadily declined in 2016. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were boosting their stakes substantially (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Three Corner Global Investors, led by Gunnar Overstrom, holds the largest position in Lindblad Expeditions Holdings Inc (NASDAQ:LIND). Three Corner Global Investors has a $9.5 million position in the stock, comprising 3.6% of its 13F portfolio. The second most bullish fund manager is Gratia Capital, led by Steve Pei, which holds a $7.3 million position; the fund has 2.4% of its 13F portfolio invested in the stock. Some other hedge funds and institutional investors that hold long positions consist of Chuck Royce’s Royce & Associates, Richard McGuire’s Marcato Capital Management, and Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds, which is based on the performance of their 13F long positions in non-micro-cap stocks.
Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that dumped their entire stakes in the stock during the third quarter. At the top of the heap, Richard Barrera’s Roystone Capital Partners dumped the largest stake of the 700 funds monitored by Insider Monkey, valued at about $5.4 million in stock, and Louis Bacon’s Moore Global Investments was right behind this move, as the fund dumped about $0.8 million worth of shares.
Let’s check out hedge fund activity in other stocks similar to Lindblad Expeditions Holdings Inc (NASDAQ:LIND). These stocks are DXP Enterprises Inc (NASDAQ:DXPE), AAC Holdings Inc (NYSE:AAC), Genesis Healthcare Inc (NYSE:GEN), and YRC Worldwide, Inc. (NASDAQ:YRCW). This group of stocks’ market values are closest to LIND’s market value.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| DXPE | 9 | 55026 | 3 |
| AAC | 6 | 46564 | -1 |
| GEN | 5 | 2172 | -1 |
| YRCW | 19 | 112255 | -1 |
As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $54 million. That figure was $32 million in LIND’s case. YRC Worldwide, Inc. (NASDAQ:YRCW) is the most popular stock in this table. On the other hand Genesis Healthcare Inc (NYSE:GEN) is the least popular one with only 5 bullish hedge fund positions. Lindblad Expeditions Holdings Inc (NASDAQ:LIND) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard YRCW might be a better candidate to consider taking a long position in.
Disclosure: None