Lindblad Expeditions (NASDAQ:LIND) Reaches New 1-Year High on Analyst Upgrade

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

A number of other analysts have also issued reports on LIND. Craig Hallum lifted their price target on shares of Lindblad Expeditions from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday. Stifel Nicolaus dropped their target price on shares of Lindblad Expeditions from $16.00 to $15.00 and set a “buy” rating for the company 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 stock a “buy” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.25.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Lindblad Expeditions

Hedge funds and other institutional investors have recently modified their holdings of the company. Assetmark Inc. increased its holdings in shares of Lindblad Expeditions by 49.6% during the third quarter. Assetmark Inc. now owns 5,191 shares of the company’s stock valued at $48,000 after purchasing an additional 1,722 shares during the period. Price T Rowe Associates Inc. MD bought a new position in Lindblad Expeditions in the 1st quarter valued at about $95,000. Arizona State Retirement System acquired a new position in Lindblad Expeditions during the 2nd quarter valued at about $101,000. SG Americas Securities LLC bought a new stake in shares of Lindblad Expeditions during the 3rd quarter worth about $139,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Lindblad Expeditions in the 1st quarter worth approximately $176,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Lindblad Expeditions Price Performance

The firm has a market capitalization of $717.57 million, a P/E ratio of -12.83 and a beta of 3.02. The firm’s fifty day moving average price is $9.82 and its 200-day moving average price is $8.85.

Lindblad Expeditions (NASDAQ:LIND) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.24). The business had revenue of $136.50 million during the quarter, compared to analysts’ expectations of $137.39 million. Analysts expect that Lindblad Expeditions Holdings, Inc. will post -0.65 earnings per share for the current year.

Lindblad Expeditions Company Profile

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.