Lindblad Expeditions (NASDAQ:LIND) Hits New 52-Week High – Here’s Why

Lindblad Expeditions (NASDAQ:LIND) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $22.55 and last traded at $22.3350, with a volume of 20214 shares traded. The stock had previously closed at $21.37.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Zacks Research cut Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Wall Street Zen raised shares of Lindblad Expeditions from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Oppenheimer assumed coverage on shares of Lindblad Expeditions in a research report on Monday, March 16th. They issued an “outperform” rating and a $25.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lindblad Expeditions in a research note on Tuesday, April 21st. Finally, Benchmark raised their price objective on shares of Lindblad Expeditions from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.33.

Lindblad Expeditions Stock Performance

The business has a 50-day simple moving average of $18.79 and a two-hundred day simple moving average of $16.75. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -40.72 and a beta of 2.21.

Lindblad Expeditions (NASDAQ:LIND) last released its earnings results on Tuesday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The company had revenue of $208.01 million during the quarter, compared to analyst estimates of $197.24 million. Research analysts predict that Lindblad Expeditions will post 0.09 EPS for the current fiscal year.

Insider Activity at Lindblad Expeditions

In other Lindblad Expeditions news, Director John M. Fahey, Jr. sold 7,768 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $17.66, for a total value of $137,182.88. Following the transaction, the director directly owned 122,986 shares of the company’s stock, valued at approximately $2,171,932.76. The trade was a 5.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jr. Thomas S. Smith sold 56,000 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $17.57, for a total transaction of $983,920.00. Following the completion of the transaction, the director directly owned 45,488 shares in the company, valued at $799,224.16. This represents a 55.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 107,728 shares of company stock worth $2,006,329 in the last three months. Insiders own 26.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Lindblad Expeditions by 1.3% during the third quarter. Vanguard Group Inc. now owns 2,332,262 shares of the company’s stock worth $29,853,000 after purchasing an additional 29,642 shares in the last quarter. Anchor Capital Management Company LLC boosted its holdings in Lindblad Expeditions by 7.4% in the 3rd quarter. Anchor Capital Management Company LLC now owns 1,911,106 shares of the company’s stock valued at $24,462,000 after purchasing an additional 131,203 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Lindblad Expeditions by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,529,868 shares of the company’s stock valued at $26,467,000 after purchasing an additional 46,955 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Lindblad Expeditions by 44.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,272,909 shares of the company’s stock worth $22,021,000 after purchasing an additional 393,359 shares during the period. Finally, Black Diamond Financial LLC increased its position in Lindblad Expeditions by 13.6% during 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 during the period. 75.94% of the stock is owned by hedge funds and other institutional investors.

About Lindblad Expeditions

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.