Lindblad Expeditions (NASDAQ:LIND) Reaches New 12-Month High - Here's Why

Key Points

• Shares of Lindblad Expeditions reached a new 52-week high, trading as high as $21.32 and last at $21.4080, up roughly 7.1% on the day.
• Wall Street sentiment is a Moderate Buy (five Buys, one Hold, one Sell) with an average target of $22.25 and upward target revisions from firms like Benchmark ($25) and Stifel ($23), even though the company missed EPS estimates (loss of $0.45) while beating revenue.
• There has been notable insider selling recently (CEO sold 41,000 shares; a director sold 56,000; insiders sold ~1.41M shares worth $23.9M last quarter) while institutional investors hold about 75.9% of the stock.

Shares of Lindblad Expeditions (NASDAQ:LIND - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $21.32 and last traded at $21.4080, with a volume of 107513 shares changing hands. The stock had previously closed at $19.57.

Wall Street Analyst Weigh In

LIND has been the topic of several recent analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Lindblad Expeditions in a report on Thursday, January 22nd. Stifel Nicolaus raised their target price on shares of Lindblad Expeditions from $20.00 to $23.00 and gave the company a "buy" rating in a report on Monday, January 12th. Benchmark raised their target price on shares of Lindblad Expeditions from $18.00 to $25.00 and gave the company a "buy" rating in a report on Friday, February 27th. Zacks Research lowered shares of Lindblad Expeditions from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 4th. Finally, Citigroup initiated coverage on shares of Lindblad Expeditions in a report on Tuesday, December 30th. They issued a "buy" rating on the stock. Five equities research 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.25.

Lindblad Expeditions Trading Up 7.1%

The business's 50 day moving average price is $18.74 and its two-hundred day moving average price is $15.39. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -33.26 and a beta of 2.25.

Lindblad Expeditions (NASDAQ:LIND - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.13). The firm had revenue of $183.18 million for the quarter, compared to the consensus estimate of $167.66 million. Analysts expect that Lindblad Expeditions will post -0.43 EPS for the current year.

Insider Buying and Selling at Lindblad Expeditions

In related news, CEO Benjamin Bressler sold 41,000 shares of Lindblad Expeditions stock in a transaction that occurred on 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 directly owned 23,466 shares in the company, valued at $424,265.28. This trade represents a 63.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jr. Thomas S. Smith sold 56,000 shares of Lindblad Expeditions stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $17.57, for a total transaction of $983,920.00. Following the sale, the director owned 45,488 shares in the company, valued at approximately $799,224.16. This represents a 55.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,406,973 shares of company stock valued at $23,887,579 in the last quarter. 34.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LIND. AQR Capital Management LLC raised its holdings in Lindblad Expeditions by 44.4% during the 1st quarter. AQR Capital Management LLC now owns 15,994 shares of the company's stock worth $148,000 after purchasing an additional 4,921 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Lindblad Expeditions by 5.1% during 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 during the last quarter. Creative Planning bought a new position in Lindblad Expeditions during the 2nd quarter worth approximately $174,000. JPMorgan Chase & Co. raised its holdings in Lindblad Expeditions by 78.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 311,363 shares of the company's stock worth $3,634,000 after purchasing an additional 137,312 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Lindblad Expeditions by 8.1% during the 2nd quarter. Rhumbline Advisers now owns 55,012 shares of the company's stock worth $642,000 after purchasing an additional 4,114 shares during the last quarter. Institutional investors own 75.94% of the company's stock.

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.

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