Lindblad Expeditions (NASDAQ:LIND) Hits New 1-Year High – Here’s Why

Shares of Lindblad Expeditions (NASDAQ:LIND) hit a new 52-week high during 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.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LIND. Stifel Nicolaus upped their price objective on shares of Lindblad Expeditions from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Citigroup started coverage on shares of Lindblad Expeditions in a report on Tuesday, December 30th. They set a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lindblad Expeditions in a research note on Thursday, January 22nd. Wall Street Zen downgraded Lindblad Expeditions from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Benchmark reaffirmed a “buy” rating on shares of Lindblad Expeditions in a report on Thursday, January 15th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Lindblad Expeditions presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Lindblad Expeditions Trading Up 0.7%

The company has a market cap of $1.15 billion, a price-to-earnings ratio of -31.35 and a beta of 2.27. The company has a fifty day moving average price of $16.18 and a two-hundred day moving average price of $13.98.

Insider Buying and Selling at Lindblad Expeditions

In other news, Director Sven-Olof Lindblad sold 28,002 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $17.61, for a total transaction of $493,115.22. Following the completion of the transaction, the director directly owned 10,783,962 shares of the company’s stock, valued at approximately $189,905,570.82. This trade represents a 0.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Benjamin Bressler sold 41,000 shares of Lindblad Expeditions stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $18.08, for a total transaction of $741,280.00. Following the sale, the chief executive officer owned 23,466 shares in the company, valued at approximately $424,265.28. This trade represents a 63.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,782,351 shares of company stock worth $29,808,188 in the last three months. Insiders own 34.00% of the company’s stock.

Institutional Investors Weigh In On Lindblad Expeditions

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC grew its position in Lindblad Expeditions by 495.8% in the third quarter. SG Americas Securities LLC now owns 81,089 shares of the company’s stock valued at $1,038,000 after acquiring an additional 67,480 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Lindblad Expeditions by 8.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 578,809 shares of the company’s stock valued at $6,755,000 after purchasing an additional 46,284 shares in the last quarter. Black Diamond Financial LLC boosted its stake 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 valued at $13,675,000 after purchasing an additional 127,950 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Lindblad Expeditions by 108.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 592,985 shares of the company’s stock worth $6,920,000 after purchasing an additional 308,463 shares during the last quarter. Finally, Anchor Capital Management Company LLC increased its position in shares of Lindblad Expeditions by 8.2% during the 2nd quarter. Anchor Capital Management Company LLC now owns 1,779,903 shares of the company’s stock worth $20,771,000 after purchasing an additional 135,000 shares in the last quarter. 75.94% of the stock is currently owned by 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.