Lindblad Expeditions (NASDAQ:LIND) Shares Up 5.7% – Here’s What Happened

Lindblad Expeditions (NASDAQ:LIND) shares shot up 5.7% during mid-day trading on Monday. The stock traded as high as $29.96 and last traded at $30.0650. Approximately 318,697 shares were traded during trading, a decline of 61% from the average session volume of 827,303 shares. The stock had previously closed at $28.45.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LIND. Benchmark lifted their price objective on Lindblad Expeditions from $25.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Stifel Nicolaus set a $37.00 target price on Lindblad Expeditions in a research report on Tuesday, August 4th. Zacks Research downgraded shares of Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Capital One Financial set a $31.00 price target on shares of Lindblad Expeditions in a report on Monday, June 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lindblad Expeditions in a research note on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.00.

Lindblad Expeditions Price Performance

The firm has a 50 day simple moving average of $29.36 and a 200-day simple moving average of $24.13. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -78.00 and a beta of 2.22.

Lindblad Expeditions (NASDAQ:LIND) last issued its earnings results on Monday, August 3rd. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.08. Lindblad Expeditions had a negative net margin of 2.08% and a negative return on equity of 0.56%. The company had revenue of $199.25 million for the quarter, compared to the consensus estimate of $185.86 million. On average, sell-side analysts forecast that Lindblad Expeditions will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of Lindblad Expeditions

Large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new stake in shares of Lindblad Expeditions during the second quarter worth approximately $25,000. Allworth Financial LP acquired a new position in shares of Lindblad Expeditions in the 2nd quarter worth approximately $38,000. Silvant Capital Management LLC acquired a new position in shares of Lindblad Expeditions in the 2nd quarter worth approximately $58,000. Assetmark Inc. grew its position in Lindblad Expeditions by 77.0% during the 1st quarter. Assetmark Inc. now owns 5,455 shares of the company’s stock worth $94,000 after acquiring an additional 2,373 shares during the last quarter. Finally, State of Wyoming bought a new stake in Lindblad Expeditions during the 2nd quarter worth approximately $109,000. 75.94% of the stock is owned by institutional investors.

Lindblad Expeditions Company Profile

Lindblad Expeditions Holdings, Inc is an expedition travel company that provides small-ship ocean and river voyages, land-based expeditions, and related travel experiences. Its trips focus on exploration, nature, wildlife, culture, and education, with itineraries designed for destinations that are generally less accessible to conventional cruise operators.

The company operates voyages under the Lindblad Expeditions and National Geographic-Lindblad Expeditions brands through a strategic relationship with National Geographic.