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

Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND)’s share price traded down 7.2% during trading on Thursday . The company traded as low as $9.70 and last traded at $9.66. 107,114 shares changed 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 downgraded shares of Lindblad Expeditions from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.25.

Lindblad Expeditions Price Performance

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

Insider Activity

In related news, Director John M. Fahey, Jr. sold 7,000 shares of the company’s stock in a transaction dated 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 owns 123,754 shares of the company’s stock, valued at $1,455,347.04. This represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 34.30% of the company’s stock.

Institutional Investors Weigh In On Lindblad Expeditions

Institutional investors have recently bought and sold shares of the stock. Quest Partners LLC lifted its holdings in Lindblad Expeditions by 1,139.4% in the third quarter. Quest Partners LLC now owns 60,880 shares of the company’s stock worth $563,000 after purchasing an additional 55,968 shares during the period. Barclays PLC lifted its holdings in Lindblad Expeditions by 263.7% in the third quarter. Barclays PLC now owns 60,234 shares of the company’s stock worth $557,000 after purchasing an additional 43,671 shares during the period. Villere ST Denis J & Co. LLC acquired a new stake in Lindblad Expeditions in the fourth quarter worth about $238,000. Assetmark Inc. lifted its holdings in Lindblad Expeditions by 49.6% in the third quarter. Assetmark Inc. now owns 5,191 shares of the company’s stock worth $48,000 after purchasing an additional 1,722 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Lindblad Expeditions by 66.3% in the third quarter. JPMorgan Chase & Co. now owns 322,668 shares of the company’s stock worth $2,985,000 after purchasing an additional 128,610 shares during the period. Institutional investors and hedge funds 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.