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

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

Wall Street Analyst Weigh In

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

Lindblad Expeditions Price Performance

The stock’s fifty day moving average price is $11.61 and its 200-day moving average price is $11.31. The firm has a market cap of $528.94 million, a price-to-earnings ratio of -12.92 and a beta of 3.12.

Institutional Trading of Lindblad Expeditions

A number of hedge funds have recently made changes to their positions in LIND. Quest Partners LLC increased its stake in Lindblad Expeditions by 1,139.4% in the 3rd quarter. Quest Partners LLC now owns 60,880 shares of the company’s stock valued at $563,000 after buying an additional 55,968 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Lindblad Expeditions by 104.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 292,292 shares of the company’s stock valued at $2,704,000 after acquiring an additional 149,409 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Lindblad Expeditions by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 295,786 shares of the company’s stock worth $2,736,000 after acquiring an additional 3,087 shares during the last quarter. Quantbot Technologies LP raised its holdings in shares of Lindblad Expeditions by 307.7% during the third quarter. Quantbot Technologies LP now owns 8,044 shares of the company’s stock worth $74,000 after acquiring an additional 6,071 shares in the last quarter. Finally, PDT Partners LLC acquired a new stake in Lindblad Expeditions during the third quarter valued at $556,000. 75.94% of the stock is owned by hedge funds and other institutional investors.

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.