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

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NCLH. Citigroup raised Norwegian Cruise Line from a "neutral" rating to a "buy" rating and upped their price objective for the company from $20.00 to $30.00 in a research note on Wednesday, October 9th. The Goldman Sachs Group raised shares of Norwegian Cruise Line from a "neutral" rating to a "buy" rating and raised their price target for the company from $29.00 to $35.00 in a research note on Tuesday, December 10th. Morgan Stanley boosted their price objective on shares of Norwegian Cruise Line from $19.00 to $26.00 and gave the stock an "underweight" rating in a research note on Tuesday, November 12th. Truist Financial raised their target price on Norwegian Cruise Line from $25.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. Finally, Macquarie raised their price objective on Norwegian Cruise Line from $24.00 to $30.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $29.27.

Norwegian Cruise Line Trading Down 1.9 %

The firm has a market cap of $11.18 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 0.30 and a beta of 2.65. The firm's 50-day moving average is $26.36 and its 200-day moving average is $21.51. The company has a current ratio of 0.20, a quick ratio of 0.17 and a debt-to-equity ratio of 10.35.

Norwegian Cruise Line (NYSE:NCLH - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.94 by $0.05. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. As a group, sell-side analysts anticipate that Norwegian Cruise Line Holdings Ltd. will post 1.51 EPS for the current fiscal year.

Insider Activity at Norwegian Cruise Line

In other news, insider Andrea Demarco sold 29,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $27.76, for a total transaction of $805,040.00. Following the completion of the transaction, the insider now directly owns 97,304 shares of the company's stock, valued at $2,701,159.04. This represents a 22.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Faye L. Ashby sold 38,344 shares of the firm's stock in a transaction that occurred on 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 82,344 shares of company stock valued at $2,269,731 over the last ninety days. Corporate insiders own 0.52% of the company's stock.

Institutional Trading of Norwegian Cruise Line

Several hedge funds and other institutional investors have recently modified their holdings of the business. Prestige Wealth Management Group LLC lifted its holdings in shares of Norwegian Cruise Line by 192.3% in the third quarter. Prestige Wealth Management Group LLC now owns 1,216 shares of the company's stock worth $25,000 after buying an additional 800 shares in the last quarter. Avior Wealth Management LLC lifted 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. Sentry Investment Management LLC bought a new position in Norwegian Cruise Line in the 2nd quarter valued at $39,000. Blue Trust Inc. increased its holdings in shares of Norwegian Cruise Line by 489.8% in the third quarter. Blue Trust Inc. now owns 2,188 shares of the company's stock worth $41,000 after purchasing an additional 1,817 shares during the period. Finally, Brooklyn Investment Group bought a new stake in Norwegian Cruise Line during the third quarter valued at $56,000. 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.