Lindblad Expeditions (NASDAQ:LIND) Stock Price Down 4.5% – Here’s Why

Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND)’s stock price fell 4.5% during mid-day trading on Thursday . The stock traded as low as $11.32 and last traded at $11.33. 125,573 shares changed hands during trading, a decline of 57% from the average session volume of 290,462 shares. The stock had previously closed at $11.86.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LIND. Craig Hallum increased their target price on Lindblad Expeditions from $12.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. StockNews.com raised Lindblad Expeditions from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.25.

Lindblad Expeditions Stock Performance

The business’s 50 day simple moving average is $12.18 and its 200-day simple moving average is $10.25. The company has a market cap of $616.99 million, a price-to-earnings ratio of -15.09 and a beta of 3.10.

Insider Activity at Lindblad Expeditions

In other Lindblad Expeditions news, Director John M. Fahey, Jr. sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $11.76, for a total value of $82,320.00. Following the completion of the sale, the director now directly owns 123,754 shares of the company’s stock, valued at $1,455,347.04. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 34.30% of the company’s stock.

Institutional Investors Weigh In On Lindblad Expeditions

A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in Lindblad Expeditions by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 115,944 shares of the company’s stock valued at $1,119,000 after purchasing an additional 5,569 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Lindblad Expeditions by 2.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,661,902 shares of the company’s stock worth $16,037,000 after acquiring an additional 36,307 shares during the period. Victory Capital Management Inc. lifted its position in Lindblad Expeditions by 3.3% during the 2nd quarter. Victory Capital Management Inc. now owns 96,400 shares of the company’s stock worth $930,000 after acquiring an additional 3,100 shares during the last quarter. Arizona State Retirement System bought a new stake in Lindblad Expeditions during the second quarter valued at about $101,000. Finally, Los Angeles Capital Management LLC grew its position in shares of Lindblad Expeditions by 54.3% in the second quarter. Los Angeles Capital Management LLC now owns 93,997 shares of the company’s stock valued at $907,000 after purchasing an additional 33,060 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

About Lindblad Expeditions

Lindblad Expeditions Holdings, Inc provides marine expedition adventures and travel experience worldwide. It operates through Lindblad and Land Experiences segment. Lindblad segment provides ship-based expeditions aboard customized, nimble, and intimately-scaled vessels, which offers up-close experiences in the planet's wild and remote places, and capitals of culture; and offers expedition ship which is equipped with state-of-the-art tools for in-depth exploration with infrastructure and ports, such as Antarctica and the Arctic, and places that accessed by a ship comprising Galápagos Islands, Alaska, Baja California's Sea of Cortez and Panama, and foster engagement activities.