Lindblad Expeditions (NASDAQ:LIND) Trading Down 5.4% – Here’s Why

Shares of Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) dropped 5.4% during trading on Friday . The company traded as low as $9.51 and last traded at $9.68. Approximately 211,368 shares were traded during trading, a decline of 27% from the average daily volume of 289,223 shares. The stock had previously closed at $10.23.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Lindblad Expeditions from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.25.

Lindblad Expeditions Stock Performance

The firm has a fifty day simple moving average of $11.61 and a 200-day simple moving average of $11.31. The company has a market capitalization of $528.94 million, a PE ratio of -12.92 and a beta of 3.12.

Institutional Investors Weigh In On Lindblad Expeditions

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC raised its position in shares of Lindblad Expeditions by 91.3% during the 4th quarter. Manchester Capital Management LLC now owns 2,850 shares of the company’s stock valued at $34,000 after acquiring an additional 1,360 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Lindblad Expeditions during the fourth quarter worth $38,000. Quantbot Technologies LP lifted its position in shares of Lindblad Expeditions by 307.7% in the 3rd quarter. Quantbot Technologies LP now owns 8,044 shares of the company’s stock worth $74,000 after buying an additional 6,071 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Lindblad Expeditions in the 4th quarter valued at about $110,000. Finally, ProShare Advisors LLC bought a new stake in shares of Lindblad Expeditions during the 4th quarter valued at about $120,000. Institutional investors own 75.94% of the company’s stock.

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.