Lindblad Expeditions (NASDAQ:LIND) Sees Strong Trading Volume Following Analyst Upgrade

Shares of Lindblad Expeditions (NASDAQ:LIND) saw strong trading volume on Wednesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. 968,349 shares traded hands during mid-day trading, an increase of 179% from the previous session’s volume of 346,592 shares.The stock last traded at $14.94 and had previously closed at $14.46.

LIND has been the topic of a number of other research reports. Benchmark began coverage on Lindblad Expeditions in a research report on Tuesday, December 30th. They issued a “buy” rating and a $18.00 target price on the stock. Wall Street Zen lowered Lindblad Expeditions from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lindblad Expeditions in a report on Wednesday, October 8th. Finally, Citigroup initiated coverage on shares of Lindblad Expeditions in a research note on Tuesday, December 30th. They issued a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.33.

Insider Transactions at Lindblad Expeditions

In other news, CEO Benjamin Bressler sold 29,628 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $15.04, for a total value of $445,605.12. Following the completion of the transaction, the chief executive officer directly owned 23,466 shares in the company, valued at approximately $352,928.64. The trade was a 55.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 34.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lindblad Expeditions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Global Investments increased its holdings in Lindblad Expeditions by 3.5% during the second quarter. Summit Global Investments now owns 25,328 shares of the company’s stock worth $296,000 after buying an additional 848 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Lindblad Expeditions by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,329 shares of the company’s stock worth $198,000 after purchasing an additional 1,037 shares in the last quarter. Simon Quick Advisors LLC boosted its stake in Lindblad Expeditions by 7.1% during the third quarter. Simon Quick Advisors LLC now owns 16,118 shares of the company’s stock valued at $206,000 after buying an additional 1,065 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Lindblad Expeditions by 9.3% in the second quarter. The Manufacturers Life Insurance Company now owns 14,406 shares of the company’s stock worth $168,000 after purchasing an additional 1,222 shares during the last quarter. Finally, Osaic Holdings Inc. increased its holdings in shares of Lindblad Expeditions by 58.1% in the 2nd quarter. Osaic Holdings Inc. now owns 3,597 shares of the company’s stock worth $41,000 after buying an additional 1,322 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

Lindblad Expeditions Stock Up 2.1%

The stock has a 50-day simple moving average of $13.10 and a two-hundred day simple moving average of $12.94. The firm has a market cap of $833.22 million, a PE ratio of -22.79 and a beta of 2.28.

Lindblad Expeditions (NASDAQ:LIND) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. The business had revenue of $240.17 million during the quarter, compared to the consensus estimate of $229.68 million. Research analysts expect that Lindblad Expeditions will post -0.43 earnings per share for the current year.

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.