Lindblad Expeditions (NASDAQ:LIND) Sees Strong Trading Volume – Here’s Why

Lindblad Expeditions (NASDAQ:LIND) saw an uptick in trading volume on Wednesday . 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.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LIND. Zacks Research downgraded shares of Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Benchmark began coverage on shares of Lindblad Expeditions in a research report on Tuesday, December 30th. They issued a “buy” rating and a $18.00 target price for the company. Citigroup started coverage on shares of Lindblad Expeditions in a research note on Tuesday, December 30th. They set a “buy” rating for the company. Wall Street Zen cut Lindblad Expeditions from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lindblad Expeditions in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.33.

Lindblad Expeditions Stock Performance

The company has a market capitalization of $830.00 million, a P/E ratio of -22.70 and a beta of 2.28. The stock has a fifty day moving average of $12.92 and a 200 day moving average of $12.88.

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

Insiders Place Their Bets

In other Lindblad Expeditions news, CEO Benjamin Bressler sold 16,123 shares of Lindblad Expeditions stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $15.02, for a total transaction of $242,167.46. Following the transaction, the chief executive officer owned 23,466 shares of the company’s stock, valued at $352,459.32. The trade was a 40.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 34.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LIND. Pier Capital LLC purchased a new stake in Lindblad Expeditions in the 3rd quarter worth $6,076,000. Millennium Management LLC lifted its position in shares of Lindblad Expeditions by 115.1% in the third quarter. Millennium Management LLC now owns 834,162 shares of the company’s stock valued at $10,677,000 after acquiring an additional 446,294 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Lindblad Expeditions by 108.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 592,985 shares of the company’s stock worth $6,920,000 after acquiring an additional 308,463 shares during the period. GC Wealth Management RIA LLC purchased a new stake in shares of Lindblad Expeditions during the second quarter worth about $3,467,000. Finally, Algert Global LLC raised its stake in Lindblad Expeditions by 82.2% during the 3rd quarter. Algert Global LLC now owns 548,856 shares of the company’s stock valued at $7,025,000 after purchasing an additional 247,684 shares during the period. Hedge funds and other institutional investors own 75.94% of the company’s stock.

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.