Norwegian Cruise Line (NYSE:NCLH) Shares Gap Down Following Analyst Downgrade

Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH – Get Rating)’s stock price gapped down prior to trading on Tuesday after Morgan Stanley downgraded the stock from an equal weight rating to an underweight rating. The stock had previously closed at $13.78, but opened at $13.31. Morgan Stanley now has a $11.50 price target on the stock, down from their previous price target of $13.00. Norwegian Cruise Line shares last traded at $13.40, with a volume of 172,178 shares changing hands.

NCLH has been the topic of several other reports. Citigroup raised their price objective on Norwegian Cruise Line to $18.00 in a research report on Tuesday, November 15th. Susquehanna lifted their target price on Norwegian Cruise Line from $15.00 to $20.00 in a research report on Wednesday, November 9th. Tigress Financial reaffirmed a “strong-buy” rating and set a $32.00 target price on shares of Norwegian Cruise Line in a research report on Friday, October 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on Norwegian Cruise Line from $16.00 to $14.00 and set a “hold” rating for the company in a report on Friday, November 11th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $30.00 price objective (down from $35.00) on shares of Norwegian Cruise Line in a report on Tuesday, December 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Norwegian Cruise Line currently has an average rating of “Hold” and an average price target of $19.04.

Insider Buying and Selling at Norwegian Cruise Line

In other news, CEO Jason Montague sold 32,879 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $16.49, for a total transaction of $542,174.71. Following the completion of the transaction, the chief executive officer now directly owns 226,002 shares in the company, valued at $3,726,772.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Jason Montague sold 32,879 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $16.49, for a total transaction of $542,174.71. Following the completion of the transaction, the chief executive officer now directly owns 226,002 shares in the company, valued at $3,726,772.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Kempa sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $18.54, for a total value of $463,500.00. Following the transaction, the chief financial officer now owns 197,651 shares of the company’s stock, valued at $3,664,449.54. The disclosure for this sale can be found here. Insiders sold a total of 159,951 shares of company stock worth $2,859,054 over the last ninety days. Company insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Norwegian Cruise Line

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in Norwegian Cruise Line by 3.8% during the third quarter. International Assets Investment Management LLC now owns 17,407 shares of the company’s stock worth $198,000 after purchasing an additional 630 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Norwegian Cruise Line by 12.3% during the third quarter. Daiwa Securities Group Inc. now owns 6,072 shares of the company’s stock worth $69,000 after purchasing an additional 666 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Norwegian Cruise Line by 5.5% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 15,101 shares of the company’s stock worth $172,000 after purchasing an additional 782 shares in the last quarter. Retirement Systems of Alabama raised its holdings in Norwegian Cruise Line by 0.6% during the second quarter. Retirement Systems of Alabama now owns 138,938 shares of the company’s stock worth $1,545,000 after purchasing an additional 813 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Norwegian Cruise Line by 0.8% during the third quarter. Arizona State Retirement System now owns 113,890 shares of the company’s stock worth $1,294,000 after purchasing an additional 912 shares in the last quarter. Institutional investors own 57.17% of the company’s stock.

Norwegian Cruise Line Stock Performance

The stock has a market cap of $5.96 billion, a P/E ratio of -1.71 and a beta of 2.48. The company has a fifty day moving average of $15.16 and a 200 day moving average of $13.97. The company has a debt-to-equity ratio of 32.25, a current ratio of 0.46 and a quick ratio of 0.43.

Norwegian Cruise Line (NYSE:NCLH – Get Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.05. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Norwegian Cruise Line had a negative return on equity of 180.24% and a negative net margin of 88.14%. On average, equities analysts predict that Norwegian Cruise Line Holdings Ltd. will post -4.7 earnings per share for the current fiscal year.

About Norwegian Cruise Line

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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 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 locations, including destinations in Scandinavia, Russia, 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.