Lindblad Expeditions (NASDAQ:LIND) Stock Price Down 7.2% – Here’s Why

Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND)’s share price fell 7.2% during trading on Thursday . The stock traded as low as $9.70 and last traded at $9.66. 107,114 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 287,709 shares. The stock had previously closed at $10.41.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Lindblad Expeditions from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.25.

Lindblad Expeditions Trading Up 6.5 %

The company has a fifty day simple moving average of $11.79 and a 200-day simple moving average of $11.31. The stock has a market cap of $561.14 million, a price-to-earnings ratio of -13.71 and a beta of 3.12.

Insiders Place Their Bets

In other news, Director John M. Fahey, Jr. sold 7,000 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $11.76, for a total value of $82,320.00. Following the transaction, the director now owns 123,754 shares in the company, valued at $1,455,347.04. This represents a 5.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 34.30% of the company’s stock.

Hedge Funds Weigh In On Lindblad Expeditions

A number of large investors have recently made changes to their positions in LIND. Penn Capital Management Company LLC acquired a new position in shares of Lindblad Expeditions in the 4th quarter valued at about $5,335,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Lindblad Expeditions in the 4th quarter valued at about $4,610,000. New York State Common Retirement Fund grew its stake in shares of Lindblad Expeditions by 3,496.6% in the 4th quarter. New York State Common Retirement Fund now owns 331,034 shares of the company’s stock valued at $3,926,000 after buying an additional 321,830 shares in the last quarter. Portolan Capital Management LLC grew its stake in shares of Lindblad Expeditions by 109.9% in the 4th quarter. Portolan Capital Management LLC now owns 544,273 shares of the company’s stock valued at $6,455,000 after buying an additional 284,930 shares in the last quarter. Finally, Oberweis Asset Management Inc. bought a new stake in shares of Lindblad Expeditions in the 4th quarter valued at approximately $3,155,000. Institutional investors and hedge funds own 75.94% of the company’s stock.

Lindblad Expeditions Company Profile

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.