Insider selling is routine in both dollar amount and proportion to market cap. The cluster follows a strong earnings beat, so it likely reflects standard portfolio diversification rather than negative foresight. No immediate trading action warranted; monitor for any acceleration in insider selling volume over the next 30 days.
Price Chart
Executive Summary
Two insiders at Lindblad Expeditions sold a total of $555K in open-market sales within a week of a strong Q1 2026 earnings beat. The CEO-level sale by the Chief Expedition Officer ($535K) is notable in dollar terms but represents only ~0.04% of the $1.3B market cap, making it routine in proportion. The cluster follows a bullish earnings report (revenue +16% YoY, EPS $0.09 vs $0.01 consensus), suggesting profit-taking rather than distress.
Key Financial Metrics
Key Facts
- Chief Expedition Officer Trey Byus sold 26,460 shares for $535K at $20.23 on 2026-05-11
- Director John Fahey sold 4,500 shares total ($89K) on 2026-05-11 and 2026-05-12
- Director Mark Ein had a non-cash transaction of 1,000,000 shares (no economic value)
- Total open-market sales of $555K represent ~0.04% of LIND's $1.3B market cap
- Cluster occurred 8 days after LIND reported Q1 2026 revenue of $208M (+16% YoY) and EPS of $0.09 vs $0.01 consensus
Financial Impact
Total insider sales of $555K, or ~0.04% of market cap — immaterial relative to company size
Risk Factors
- If insider selling accelerates beyond $1M+ in the next 30 days, it could signal waning confidence despite strong earnings
- The stock is up ~12% over the past month (per market data), increasing temptation for insiders to take profits
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-LIND-1778631615342 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 5w ago | 8-K | $26.09 $27.24 | ▲ +4.41% | ▲ +4.08% | $34.87 (+33.65%) |
Aug 9, 2026 11w ago | Institutional Cluster | $33.04 $32.84 | ▼ −0.61% | ▼ −0.29% | $34.87 (+5.54%) |
Aug 3, 2026 12w ago | 8-K | $33.12 $34.09 | ▲ +2.93% | ▲ +1.13% | $34.87 (+5.28%) |
May 29, 2026 21w ago | 144 | $22.96 $22.70 | ▼ −1.13% | ▼ −1.28% | $34.87 (+51.87%) |
May 29, 2026 21w ago | 144 | $22.96 $22.70 | ▼ −1.13% | ▼ −1.28% | $34.87 (+51.87%) |
May 22, 2026 22w ago | Insider Cluster | $21.37 $22.57 | ▲ +5.62% | ▲ +5.60% | $34.87 (+63.17%) |
May 15, 2026 23w ago | Insider Cluster | $19.16 $18.46 | ▼ −3.65% | ▼ −3.00% | $34.87 (+81.99%) |
May 11, 2026 23w ago | 144 | $19.02 $19.02 | · 0.00% | ▼ −0.54% | $34.87 (+83.33%) |
May 11, 2026 24w ago | Insider Cluster | $19.48 $19.02 | ▼ −2.36% | ▼ −2.22% | $34.87 (+79.00%) |
May 8, 2026 24w ago | 144 | $19.48 $19.02 | ▼ −2.36% | ▼ −2.22% | $34.87 (+79.00%) |
US Market Status
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