Norwegian Cruise Line (NYSE:NCLH) Stock Price Down 2.7% – Here’s What Happened

Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)’s stock price was down 2.7% during mid-day trading on Friday . The company traded as low as $25.22 and last traded at $25.23. Approximately 759,658 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 4,564,708 shares. The stock had previously closed at $25.92.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Tigress Financial boosted their target price on shares of Norwegian Cruise Line from $32.00 to $36.00 and gave the company a “strong-buy” rating in a research report on Monday, November 11th. Mizuho raised their price objective on Norwegian Cruise Line from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. UBS Group raised their target price on Norwegian Cruise Line from $19.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Macquarie lifted their price target on shares of Norwegian Cruise Line from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Argus raised Norwegian Cruise Line from a “hold” rating to a “buy” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.27.

Norwegian Cruise Line Price Performance

The business’s 50-day simple moving average is $26.36 and its 200 day simple moving average is $21.51. The company has a quick ratio of 0.17, a current ratio of 0.20 and a debt-to-equity ratio of 10.35. The firm has a market capitalization of $11.13 billion, a P/E ratio of 23.22, a PEG ratio of 0.30 and a beta of 2.65.

Norwegian Cruise Line (NYSE:NCLH) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.05. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Norwegian Cruise Line had a net margin of 5.87% and a return on equity of 99.31%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 EPS. Sell-side analysts forecast that Norwegian Cruise Line Holdings Ltd. will post 1.51 earnings per share for the current year.

Insiders Place Their Bets

In other Norwegian Cruise Line news, CFO Mark Kempa sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $27.86, for a total transaction of $417,900.00. Following the completion of the transaction, the chief financial officer now owns 253,386 shares of the company’s stock, valued at approximately $7,059,333.96. This trade represents a 5.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Faye L. Ashby sold 38,344 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $27.30, for a total transaction of $1,046,791.20. Following the completion of the transaction, the chief accounting officer now owns 116,270 shares of the company’s stock, valued at approximately $3,174,171. The trade was a 24.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,344 shares of company stock worth $2,269,731. 0.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC boosted its stake in Norwegian Cruise Line by 34.1% in the 3rd quarter. Avior Wealth Management LLC now owns 1,686 shares of the company’s stock worth $35,000 after purchasing an additional 429 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Norwegian Cruise Line by 2.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock valued at $509,000 after acquiring an additional 500 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Norwegian Cruise Line by 1.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 46,016 shares of the company’s stock valued at $944,000 after purchasing an additional 509 shares during the last quarter. Mount Lucas Management LP raised its stake in shares of Norwegian Cruise Line by 2.4% in the third quarter. Mount Lucas Management LP now owns 22,055 shares of the company’s stock worth $452,000 after purchasing an additional 516 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Norwegian Cruise Line by 1.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 44,757 shares of the company’s stock valued at $918,000 after purchasing an additional 521 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

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.