Lindblad Expeditions (NASDAQ:LIND) Hits New 12-Month High – Here’s Why

Lindblad Expeditions (NASDAQ:LIND) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $20.95 and last traded at $20.8310, with a volume of 153859 shares trading hands. The stock had previously closed at $20.54.

Analysts Set New Price Targets

Several brokerages recently weighed in on LIND. Benchmark reissued a “buy” rating on shares of Lindblad Expeditions in a research note on Thursday, January 15th. Zacks Research lowered Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Wall Street Zen cut Lindblad Expeditions from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Stifel Nicolaus lifted their price objective on Lindblad Expeditions from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Finally, Citigroup assumed coverage on Lindblad Expeditions in a report on Tuesday, December 30th. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Lindblad Expeditions Trading Up 1.8%

The firm has a 50-day moving average of $16.61 and a 200 day moving average of $14.13. The company has a market cap of $1.16 billion, a P/E ratio of -31.59 and a beta of 2.27.

Insider Activity at Lindblad Expeditions

In other Lindblad Expeditions news, Director Sven-Olof Lindblad sold 28,002 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $17.61, for a total value of $493,115.22. Following the completion of the sale, the director directly owned 10,783,962 shares in the company, valued at approximately $189,905,570.82. This trade represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Benjamin Bressler sold 41,000 shares of Lindblad Expeditions stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $18.08, for a total transaction of $741,280.00. Following the completion of the sale, the chief executive officer directly owned 23,466 shares of the company’s stock, valued at approximately $424,265.28. This trade represents a 63.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,782,351 shares of company stock valued at $29,808,188. Insiders own 34.00% of the company’s stock.

Institutional Trading of Lindblad Expeditions

Several large investors have recently made changes to their positions in LIND. Vanguard Group Inc. raised its stake in Lindblad Expeditions by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,332,262 shares of the company’s stock worth $29,853,000 after buying an additional 29,642 shares during the period. Anchor Capital Management Company LLC raised its position in shares of Lindblad Expeditions by 7.4% during the third quarter. Anchor Capital Management Company LLC now owns 1,911,106 shares of the company’s stock worth $24,462,000 after purchasing an additional 131,203 shares during the period. Black Diamond Financial LLC lifted its holdings in shares of Lindblad Expeditions by 13.6% in the 3rd quarter. Black Diamond Financial LLC now owns 1,068,362 shares of the company’s stock worth $13,675,000 after purchasing an additional 127,950 shares in the last quarter. Penn Capital Management Company LLC grew its position in Lindblad Expeditions by 1.7% in the 3rd quarter. Penn Capital Management Company LLC now owns 969,539 shares of the company’s stock valued at $12,423,000 after purchasing an additional 16,418 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in Lindblad Expeditions by 4.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 962,548 shares of the company’s stock valued at $12,321,000 after purchasing an additional 41,750 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Lindblad Expeditions Company Profile

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.