Cibc World Market Inc. Sells 425,988 Shares of Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)

Cibc World Market Inc. lowered its position in shares of Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) by 33.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 838,600 shares of the company’s stock after selling 425,988 shares during the quarter. Cibc World Market Inc.’s holdings in Norwegian Cruise Line were worth $21,577,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Prestige Wealth Management Group LLC increased its position in 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 purchasing an additional 800 shares during the period. R Squared Ltd acquired a new stake in shares of Norwegian Cruise Line during the 4th quarter worth approximately $31,000. Avior Wealth Management LLC raised its stake in shares of Norwegian Cruise Line by 34.1% during the third quarter. Avior Wealth Management LLC now owns 1,686 shares of the company’s stock worth $35,000 after buying an additional 429 shares during the last quarter. Blue Trust Inc. lifted its holdings in Norwegian Cruise Line by 489.8% in the third quarter. Blue Trust Inc. now owns 2,188 shares of the company’s stock valued at $41,000 after buying an additional 1,817 shares during the period. Finally, Brooklyn Investment Group bought a new position in Norwegian Cruise Line in the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Wall Street Analyst Weigh In

NCLH has been the subject of several recent research reports. The Goldman Sachs Group upgraded shares of Norwegian Cruise Line from a “neutral” rating to a “buy” rating and upped their target price for the company from $29.00 to $35.00 in a research report on Tuesday, December 10th. Truist Financial increased their target price on Norwegian Cruise Line from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Morgan Stanley boosted their target price on Norwegian Cruise Line from $19.00 to $26.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Bank of America increased their price target on shares of Norwegian Cruise Line from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Citigroup upgraded shares of Norwegian Cruise Line from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $20.00 to $30.00 in a report on Wednesday, October 9th. One 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.27.

Insider Activity at Norwegian Cruise Line

In other news, insider Andrea Demarco sold 29,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $27.76, for a total value of $805,040.00. Following the completion of the transaction, the insider now owns 97,304 shares in the company, valued at $2,701,159.04. This trade represents a 22.96 % decrease in their position. The sale 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 business’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 value of $1,046,791.20. Following the transaction, the chief accounting officer now directly owns 116,270 shares in the company, valued at $3,174,171. This trade represents a 24.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,344 shares of company stock valued at $2,269,731. 0.52% of the stock is owned by insiders.

Norwegian Cruise Line Trading Down 2.6 %

Shares of NYSE:NCLH opened at $28.32 on Friday. The firm has a market cap of $12.45 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 0.26 and a beta of 2.64. The company has a quick ratio of 0.17, a current ratio of 0.20 and a debt-to-equity ratio of 10.35. Norwegian Cruise Line Holdings Ltd. has a 12 month low of $14.69 and a 12 month high of $29.29. The company’s fifty day simple moving average is $26.58 and its 200 day simple moving average is $22.70.

Norwegian Cruise Line (NYSE:NCLH) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.05. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.77 billion. Norwegian Cruise Line had a return on equity of 99.31% and a net margin of 5.87%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $0.71 EPS. As a group, research analysts forecast that Norwegian Cruise Line Holdings Ltd. will post 1.5 EPS for the current fiscal year.

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.