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

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

Analysts Set New Price Targets

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

Lindblad Expeditions Trading Up 3.1%

The stock has a fifty day simple moving average of $18.79 and a 200-day simple moving average of $16.75. The company has a market capitalization of $1.44 billion, a PE ratio of -40.72 and a beta of 2.21.

Lindblad Expeditions (NASDAQ:LIND) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The business had revenue of $208.01 million during the quarter, compared to analysts’ expectations of $197.24 million. As a group, equities research analysts predict that Lindblad Expeditions will post 0.09 EPS for the current year.

Insider Buying and Selling at Lindblad Expeditions

In other Lindblad Expeditions news, Director Jr. Thomas S. Smith sold 56,000 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $17.57, for a total value of $983,920.00. Following 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Trey Byus sold 26,460 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $20.23, for a total transaction of $535,285.80. Following the sale, the insider owned 111,530 shares of the company’s stock, valued at $2,256,251.90. This represents a 19.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 107,728 shares of company stock worth $2,006,329 over the last three months. Insiders own 26.10% of the company’s stock.

Institutional Investors Weigh In On Lindblad Expeditions

A number of institutional investors and hedge funds have recently bought and sold shares of LIND. Osaic Holdings Inc. grew its holdings in shares of Lindblad Expeditions by 58.1% during the second quarter. Osaic Holdings Inc. now owns 3,597 shares of the company’s stock worth $41,000 after purchasing an additional 1,322 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Lindblad Expeditions during the fourth quarter worth about $57,000. Royal Bank of Canada lifted its holdings in shares of Lindblad Expeditions by 127.1% in the 4th quarter. Royal Bank of Canada now owns 4,494 shares of the company’s stock valued at $65,000 after purchasing an additional 2,515 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Lindblad Expeditions by 222.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,802 shares of the company’s stock valued at $56,000 after purchasing an additional 3,311 shares during the last quarter. Finally, Assetmark Inc. boosted its position in shares of Lindblad Expeditions by 77.0% in the 1st quarter. Assetmark Inc. now owns 5,455 shares of the company’s stock valued at $94,000 after purchasing an additional 2,373 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.