Zacks Research Upgrades Lindblad Expeditions (NASDAQ:LIND) to Strong-Buy

Lindblad Expeditions (NASDAQ:LIND) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also recently commented on LIND. Citigroup began coverage on Lindblad Expeditions in a report on Tuesday, December 30th. They set a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lindblad Expeditions in a research report on Wednesday, October 8th. Wall Street Zen cut Lindblad Expeditions from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Benchmark initiated coverage on shares of Lindblad Expeditions in a report on Tuesday, December 30th. They set a “buy” rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.33.

Lindblad Expeditions Trading Up 3.6%

Shares of NASDAQ:LIND opened at $14.98 on Tuesday. The stock has a 50 day moving average of $12.98 and a 200 day moving average of $12.90. The company has a market cap of $829.89 million, a PE ratio of -22.70 and a beta of 2.28. Lindblad Expeditions has a 12-month low of $7.45 and a 12-month high of $15.12.

Lindblad Expeditions (NASDAQ:LIND) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The firm had revenue of $240.17 million for the quarter, compared to analysts’ expectations of $229.68 million. Equities research analysts predict that Lindblad Expeditions will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Lindblad Expeditions

In related news, CEO Benjamin Bressler sold 16,123 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $15.02, for a total value of $242,167.46. Following the sale, the chief executive officer owned 23,466 shares in the company, valued at approximately $352,459.32. The trade was a 40.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 34.00% of the company’s stock.

Hedge Funds Weigh In On Lindblad Expeditions

A number of institutional investors and hedge funds have recently made changes to their positions in LIND. Harbor Capital Advisors Inc. bought a new position in Lindblad Expeditions during the 2nd quarter valued at about $1,405,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Lindblad Expeditions by 8.7% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 578,809 shares of the company’s stock valued at $6,755,000 after buying an additional 46,284 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Lindblad Expeditions by 108.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 592,985 shares of the company’s stock valued at $6,920,000 after buying an additional 308,463 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Lindblad Expeditions in the second quarter worth approximately $330,000. Finally, Anchor Capital Management Company LLC lifted its stake in shares of Lindblad Expeditions by 8.2% during the 2nd quarter. Anchor Capital Management Company LLC now owns 1,779,903 shares of the company’s stock worth $20,771,000 after acquiring an additional 135,000 shares during the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors.

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.