Norwegian Cruise Line (NYSE:NCLH) Downgraded by Credit Suisse Group

Credit Suisse Group cut shares of Norwegian Cruise Line (NYSE:NCLHGet Rating) from an outperform rating to an underperform rating in a research note released on Thursday, Marketbeat.com reports. The brokerage currently has $14.00 target price on the stock, down from their prior target price of $20.00.

NCLH has been the subject of a number of other reports. UBS Group upped their price target on Norwegian Cruise Line from $15.00 to $24.00 and gave the company a buy rating in a report on Monday, November 14th. Susquehanna Bancshares decreased their price objective on Norwegian Cruise Line from $20.00 to $15.00 and set a positive rating for the company in a report on Wednesday, August 10th. Tigress Financial reissued a strong-buy rating and issued a $32.00 price objective on shares of Norwegian Cruise Line in a report on Friday, October 21st. Citigroup increased their price objective on Norwegian Cruise Line to $18.00 in a report on Tuesday, November 15th. Finally, Truist Financial raised Norwegian Cruise Line from a hold rating to a buy rating and increased their price objective for the company from $18.00 to $19.00 in a report on Tuesday, September 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Norwegian Cruise Line has an average rating of Moderate Buy and an average price target of $19.00.

Norwegian Cruise Line Stock Performance

Shares of NCLH opened at $16.37 on Thursday. The stock has a 50 day moving average price of $14.94 and a 200 day moving average price of $13.98. The company has a quick ratio of 0.43, a current ratio of 0.46 and a debt-to-equity ratio of 32.25. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of -1.98 and a beta of 2.47. Norwegian Cruise Line has a 52-week low of $10.31 and a 52-week high of $23.90.

Insider Transactions at Norwegian Cruise Line

In other news, CEO Rio Frank J. Del sold 58,072 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $18.33, for a total transaction of $1,064,459.76. Following the completion of the sale, the chief executive officer now owns 1,344,418 shares in the company, valued at $24,643,181.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Norwegian Cruise Line news, CFO Mark Kempa sold 55,000 shares of the business’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $13.50, for a total transaction of $742,500.00. Following the sale, the chief financial officer now directly owns 222,651 shares in the company, valued at approximately $3,005,788.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rio Frank J. Del sold 58,072 shares of the business’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $18.33, for a total transaction of $1,064,459.76. Following the sale, the chief executive officer now owns 1,344,418 shares in the company, valued at $24,643,181.94. The disclosure for this sale can be found here. Insiders sold 277,709 shares of company stock worth $4,522,842 over the last 90 days. 0.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Norwegian Cruise Line

Several institutional investors have recently made changes to their positions in NCLH. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Norwegian Cruise Line in the 1st quarter worth about $218,000. Comerica Bank boosted its position in shares of Norwegian Cruise Line by 7.9% in the 1st quarter. Comerica Bank now owns 50,353 shares of the company’s stock worth $1,109,000 after buying an additional 3,692 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Norwegian Cruise Line by 34.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,637 shares of the company’s stock worth $101,000 after buying an additional 1,199 shares in the last quarter. Signaturefd LLC boosted its position in shares of Norwegian Cruise Line by 11.5% in the 1st quarter. Signaturefd LLC now owns 6,853 shares of the company’s stock worth $150,000 after buying an additional 705 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Norwegian Cruise Line in the 1st quarter valued at about $84,000. 57.80% of the stock is currently owned by hedge funds and other institutional investors.

Norwegian Cruise Line Company Profile

(Get Rating)

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.

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Analyst Recommendations for Norwegian Cruise Line (NYSE:NCLH)

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