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

Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)’s share price traded down 8.6% during mid-day trading on Thursday . The company 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

A number of research analysts have recently issued reports on the stock. StockNews.com raised shares of Norwegian Cruise Line from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Loop Capital began coverage on shares of Norwegian Cruise Line in a research note on Tuesday, February 4th. They issued a “hold” rating and a $26.00 target price for the company. Macquarie reiterated an “outperform” rating and issued a $30.00 target price on shares of Norwegian Cruise Line in a research note on Friday, January 17th. Truist Financial lifted their target price on shares of Norwegian Cruise Line from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Norwegian Cruise Line from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Norwegian Cruise Line presently has an average rating of “Moderate Buy” and an average target price of $29.06.

Norwegian Cruise Line Stock Performance

The company has a market cap of $11.04 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 0.25 and a beta of 2.64. The firm’s fifty day moving average is $26.57 and its 200 day moving average is $23.53. The company has a current ratio of 0.20, a quick ratio of 0.17 and a debt-to-equity ratio of 10.35.

Institutional Investors Weigh In On Norwegian Cruise Line

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its holdings in Norwegian Cruise Line by 48.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 230,447 shares of the company’s stock worth $5,929,000 after acquiring an additional 74,983 shares in the last quarter. Pinkerton Retirement Specialists LLC purchased a new stake in Norwegian Cruise Line in the 4th quarter worth $974,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Norwegian Cruise Line in the fourth quarter valued at about $647,000. PharVision Advisers LLC acquired a new stake in shares of Norwegian Cruise Line in the fourth quarter valued at about $258,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Norwegian Cruise Line in the fourth quarter valued at about $99,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

About Norwegian Cruise Line

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.