Capital Research & Management Co recently announced the acquisition of new stake in Norwegian Cruise Line Holdings Ltd (NYSE:NCLH). The institutional investor has increased its shareholding in the Consumer Cyclical company by 87.86% to 57.06 million shares with purchase of 26.69 million shares. This fresh investment now brings its stake to 13.41% valued currently at $871.33 million. In addition, The Vanguard Group, Inc. raised its holdings by 1.0 million to 48.25 million shares. And Capital Research & Management Co has lifted its position by 0.34% or 0.12 million shares – to 35.9 million shares.
With over 10.02 million Norwegian Cruise Line Holdings Ltd (NCLH) shares trading Friday and a closing price of $20.95 on the day, the dollar volume was approximately $209.81 million. Currently, there are 421.41M common shares owned by the public and among those 421.13M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for NCLH have a consensus price objective of $18.31. The analysts have set the share’s price value over the next 12 months at a high of $25.00 and a low of $13.50. The average price target is -14.42% below its recent price level and a downside to the estimated low will see the stock lose -55.19% over that period. But an upside of 16.2% will see the stock hit the forecast high price target while median target price for the stock is $17.75.
Insiders at the company have transacted a total of 54 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 1,759,892 shares. Insider sales of the common stock occurred on 33 occasions, with total insider shares sold totaling 1,220,140 shares.
The top 3 mutual fund holders in Norwegian Cruise Line Holdings Ltd are American Funds Growth Fund of Ame, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. American Funds Growth Fund of Ame owns 33.87 million shares of the company’s stock, all valued at over $517.26 million. The company bought an additional 16.03 million shares recently to bring their total holdings to about 7.96% of the shares outstanding. Vanguard Total Stock Market ETF bought 17089.0 shares to see its total holdings expand to 13.32 million shares valued at over $203.36 million and representing 3.13% of the shares outstanding. Vanguard Small Cap Index Fund bought 49454.0 shares to bring its total holdings to over 11.02 million shares at a value of $168.32 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.59% of the shares outstanding.
Shares of Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) opened at $20.93, down -$0.02 from a prior closing price of $20.95. The company’s stock has a 5-day price change of 2.90% and 38.01% over the past three months. NCLH shares are trading 71.16% year to date (YTD), with the 12-month market performance up to 52.36% higher. It has a 12-month low price of $11.76 and touched a high of $22.75 over the same period. NCLH has an average intraday trading volume of 15.81 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 16.68%, 34.71%, and 29.29% respectively.
Institutional ownership of Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) shares accounts for 73.00% of the company’s 421.41M shares outstanding. Mutual fund holders own 28.87%, while other institutional holders and individual stakeholders account for 44.31% and 16.09% respectively.
It has a market capitalization of $8.91B and a beta (3y monthly) value of 2.62. The earnings-per-share (ttm) stands at -$0.66. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.28% over the week and 3.93% over the month.
Analysts forecast that Norwegian Cruise Line Holdings Ltd (NCLH) will achieve an EPS of -$0.14 for the current quarter, -$0.2 for the next quarter and $1.26 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.21 while analysts give the company a high EPS estimate of -$0.11. Comparatively, EPS for the current quarter was -$1.04 a year ago. Earnings per share for the fiscal year are expected to increase by 116.39%, and 63.58% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Norwegian Cruise Line Holdings Ltd (NCLH) as a “Moderate Buy” at a consensus score of 2.32. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 10 of the 19 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the NCLH, a number of firms have released research notes about the stock. Redburn Atlantic stated their Overweight rating for the stock in a research note on September 14, 2023, with the firm’s price target at $25.
