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

Shares of Lindblad Expeditions (NASDAQ:LIND) hit a new 52-week high during trading on Wednesday . The company traded as high as $16.99 and last traded at $16.96, with a volume of 1107649 shares. The stock had previously closed at $16.89.

Wall Street Analysts Forecast Growth

LIND has been the subject of several recent analyst reports. Wall Street Zen downgraded Lindblad Expeditions from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Citigroup assumed coverage on Lindblad Expeditions in a research note on Tuesday, December 30th. They set a “buy” rating for the company. Benchmark began coverage on Lindblad Expeditions in a report on Tuesday, December 30th. They set a “buy” rating and a $18.00 price objective on the stock. Zacks Research upgraded Lindblad Expeditions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Finally, Stifel Nicolaus raised their price target on shares of Lindblad Expeditions from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Lindblad Expeditions Stock Performance

The firm has a market capitalization of $939.58 million, a P/E ratio of -25.70 and a beta of 2.28. The stock has a fifty day moving average price of $13.29 and a two-hundred day moving average price of $13.04.

Lindblad Expeditions (NASDAQ:LIND) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $240.17 million for the quarter, compared to analyst estimates of $229.68 million. As a group, research analysts anticipate that Lindblad Expeditions will post -0.43 earnings per share for the current fiscal year.

Insider Activity at Lindblad Expeditions

In other news, CEO Benjamin Bressler sold 222,386 shares of Lindblad Expeditions stock in a transaction on Monday, January 12th. The stock was sold at an average price of $16.08, for a total transaction of $3,575,966.88. Following the transaction, the chief executive officer directly owned 23,466 shares in the company, valued at approximately $377,333.28. This trade represents a 90.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 337,576 shares of company stock worth $5,307,408 in the last quarter. 34.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LIND. Summit Global Investments lifted its holdings in Lindblad Expeditions by 3.5% in the 2nd quarter. Summit Global Investments now owns 25,328 shares of the company’s stock valued at $296,000 after acquiring an additional 848 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 lifted 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 purchasing an additional 1,065 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Lindblad Expeditions by 9.3% during the second quarter. The Manufacturers Life Insurance Company now owns 14,406 shares of the company’s stock worth $168,000 after buying an additional 1,222 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in Lindblad Expeditions by 58.1% in the second 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 owned by institutional investors and hedge funds.

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.