Norwegian Cruise Line (NYSE:NCLH) Shares Down 8.6% – Here’s Why

Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)’s share price traded down 8.6% during trading on Thursday . The stock traded as low as $24.36 and last traded at $24.67. 5,501,082 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 8,116,748 shares. The stock had previously closed at $27.00.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. The Goldman Sachs Group upgraded Norwegian Cruise Line from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $35.00 in a research report on Tuesday, December 10th. Morgan Stanley boosted their price objective on Norwegian Cruise Line from $19.00 to $26.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft boosted their target price on Norwegian Cruise Line from $21.00 to $24.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. UBS Group increased their price target on Norwegian Cruise Line from $19.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Truist Financial increased their price target on Norwegian Cruise Line from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.06.

Norwegian Cruise Line Price Performance

The company has a current ratio of 0.20, a quick ratio of 0.17 and a debt-to-equity ratio of 10.35. The firm has a 50 day moving average price of $26.49 and a 200-day moving average price of $23.60. The firm has a market capitalization of $10.59 billion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 0.24 and a beta of 2.64.

Institutional Investors Weigh In On Norwegian Cruise Line

Hedge funds and other institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. purchased a new position in shares of Norwegian Cruise Line in the 3rd quarter valued at $179,146,000. Capital International Investors boosted its position in shares of Norwegian Cruise Line by 11.2% in the 4th quarter. Capital International Investors now owns 55,194,672 shares of the company’s stock worth $1,420,159,000 after purchasing an additional 5,557,951 shares in the last quarter. Norges Bank acquired a new stake in shares of Norwegian Cruise Line in the 4th quarter worth $113,156,000. Two Sigma Advisers LP boosted its position in shares of Norwegian Cruise Line by 99.0% in the 4th quarter. Two Sigma Advisers LP now owns 7,689,200 shares of the company’s stock worth $197,843,000 after purchasing an additional 3,824,600 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its position in shares of Norwegian Cruise Line by 3,403.3% in the 4th quarter. Voloridge Investment Management LLC now owns 3,374,576 shares of the company’s stock worth $86,828,000 after purchasing an additional 3,278,249 shares in the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

Norwegian Cruise Line Company Profile

Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise company in North America, Europe, the Asia-Pacific, and internationally. The company operates through the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. It offers itineraries ranging from three days to a 180-days calling on various ports, including Scandinavia, Northern Europe, the Mediterranean, the Greek Isles, Alaska, Canada and New England, Hawaii, Asia, Tahiti and the South Pacific, Australia and New Zealand, Africa, India, South America, the Panama Canal, and the Caribbean.