Lindblad Expeditions (NASDAQ:LIND) Share Price Crosses Below Fifty Day Moving Average – Time to Sell?

Lindblad Expeditions (NASDAQ:LIND)’s share price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $18.20 and traded as low as $17.50. Lindblad Expeditions shares last traded at $18.17, with a volume of 469,929 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Oppenheimer assumed coverage on Lindblad Expeditions in a report on Monday, March 16th. They set an “outperform” rating and a $25.00 price objective on the stock. Stifel Nicolaus increased their target price on Lindblad Expeditions from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Lindblad Expeditions in a report on Thursday, January 22nd. Zacks Research lowered shares of Lindblad Expeditions from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Benchmark upped their price target on shares of Lindblad Expeditions from $18.00 to $25.00 and gave the company a “buy” rating in a report on Friday, February 27th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.25.

Lindblad Expeditions Stock Up 0.4%

The company has a market capitalization of $1.19 billion, a P/E ratio of -28.84 and a beta of 2.20. The business has a fifty day moving average price of $18.20 and a 200 day moving average price of $14.81.

Lindblad Expeditions (NASDAQ:LIND) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.13). The company had revenue of $183.18 million during the quarter, compared to analyst estimates of $167.66 million. As a group, equities analysts forecast that Lindblad Expeditions will post -0.43 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Sven-Olof Lindblad sold 233,505 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $17.27, for a total transaction of $4,032,631.35. Following the completion of the transaction, the director directly owned 10,939,274 shares of the company’s stock, valued at $188,921,261.98. This trade represents a 2.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Benjamin Bressler sold 222,386 shares of the business’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $16.08, for a total transaction of $3,575,966.88. Following the completion of the sale, the chief executive officer directly owned 23,466 shares in the company, valued at approximately $377,333.28. This represents a 90.46% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,829,996 shares of company stock valued at $30,687,123. Insiders own 34.00% of the company’s stock.

Institutional Investors Weigh In On Lindblad Expeditions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pier Capital LLC bought a new stake in Lindblad Expeditions during the 3rd quarter worth about $6,076,000. Millennium Management LLC grew its holdings in shares of Lindblad Expeditions by 115.1% in the 3rd quarter. Millennium Management LLC now owns 834,162 shares of the company’s stock valued at $10,677,000 after acquiring an additional 446,294 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Lindblad Expeditions by 108.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 592,985 shares of the company’s stock valued at $6,920,000 after acquiring an additional 308,463 shares during the last quarter. UBS Group AG raised its holdings in Lindblad Expeditions by 57.9% during the fourth quarter. UBS Group AG now owns 833,372 shares of the company’s stock worth $12,017,000 after acquiring an additional 305,704 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Lindblad Expeditions by 76.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 604,437 shares of the company’s stock worth $8,716,000 after acquiring an additional 262,408 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors and hedge funds.

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.