Lindblad Expeditions (NASDAQ:LIND) Hits New 12-Month High on Analyst Upgrade

Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND)’s stock price hit a new 52-week high during mid-day trading on Wednesday after StockNews.com upgraded the stock from a hold rating to a buy rating. The stock traded as high as $13.05 and last traded at $12.85, with a volume of 28822 shares trading hands. The stock had previously closed at $11.71.

Other research analysts have also issued reports about the company. Craig Hallum upped their price target on Lindblad Expeditions from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus dropped their target price on shares of Lindblad Expeditions from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, B. Riley increased their price target on shares of Lindblad Expeditions from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Lindblad Expeditions presently has a consensus rating of “Moderate Buy” and an average price target of $14.25.

Insider Buying and Selling at Lindblad Expeditions

In related news, insider Noah Brodsky sold 14,344 shares of Lindblad Expeditions stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $10.50, for a total value of $150,612.00. Following the completion of the transaction, the insider now directly owns 58,518 shares of the company’s stock, valued at $614,439. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Lindblad Expeditions news, CEO Sven-Olof Lindblad purchased 32,117 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost of $7.95 per share, with a total value of $255,330.15. Following the completion of the purchase, the chief executive officer now directly owns 11,825,063 shares in the company, valued at approximately $94,009,250.85. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Noah Brodsky sold 14,344 shares of Lindblad Expeditions stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $10.50, for a total transaction of $150,612.00. Following the sale, the insider now directly owns 58,518 shares of the company’s stock, valued at $614,439. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 34.30% of the company’s stock.

Hedge Funds Weigh In On Lindblad Expeditions

Institutional investors have recently modified their holdings of the stock. Assetmark Inc. lifted its holdings in shares of Lindblad Expeditions by 49.6% during the 3rd quarter. Assetmark Inc. now owns 5,191 shares of the company’s stock valued at $48,000 after purchasing an additional 1,722 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Lindblad Expeditions by 3.3% during the second quarter. Victory Capital Management Inc. now owns 96,400 shares of the company’s stock worth $930,000 after buying an additional 3,100 shares in the last quarter. Bank of New York Mellon Corp raised its position in Lindblad Expeditions by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 115,944 shares of the company’s stock valued at $1,119,000 after buying an additional 5,569 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in Lindblad Expeditions by 1.1% in the 3rd quarter. Pinnacle Associates Ltd. now owns 602,015 shares of the company’s stock valued at $5,569,000 after acquiring an additional 6,267 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in Lindblad Expeditions during the 1st quarter worth approximately $95,000. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Lindblad Expeditions Trading Up 12.2 %

The company has a market capitalization of $713.76 million, a P/E ratio of -12.76 and a beta of 3.02. The firm’s 50 day moving average price is $9.76 and its two-hundred day moving average price is $8.82.

Lindblad Expeditions (NASDAQ:LIND) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.24). The firm had revenue of $136.50 million during the quarter, compared to the consensus estimate of $137.39 million. Analysts anticipate that Lindblad Expeditions Holdings, Inc. will post -0.65 earnings per share for the current fiscal year.

About Lindblad Expeditions

Lindblad Expeditions Holdings, Inc provides marine expedition adventures and travel experience worldwide. It operates through Lindblad and Land Experiences segment. Lindblad segment provides ship-based expeditions aboard customized, nimble, and intimately-scaled vessels, which offers up-close experiences in the planet's wild and remote places, and capitals of culture; and offers expedition ship which is equipped with state-of-the-art tools for in-depth exploration with infrastructure and ports, such as Antarctica and the Arctic, and places that accessed by a ship comprising Galápagos Islands, Alaska, Baja California's Sea of Cortez and Panama, and foster engagement activities.