Jupiter Asset Management Cuts Norwegian Cruise Line Holdings Stake by 52%

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) has seen a significant reduction in its institutional ownership as Jupiter Asset Management Ltd. announced a 52.1% decrease in its stake during the first quarter of 2023. According to the latest Form 13F filing with the U.S. Securities and Exchange Commission, Jupiter now holds 1,039,405 shares after selling 1,129,253 shares in the specified period. This reduction brings Jupiter’s ownership to approximately 0.23% of Norwegian Cruise Line, valued at around $19.7 million at the end of the quarter.

Several other institutional investors have also adjusted their positions in Norwegian Cruise Line recently. For instance, Raiffeisen Bank International AG acquired a new stake valued at $40,000 in the fourth quarter, while LRI Investments LLC added a new position worth $47,000. Notably, Versant Capital Management Inc. increased its stake by 147.7%, now owning 1,880 shares valued at $36,000. Additionally, Bogart Wealth LLC raised its stake by an impressive 1,012.0%, bringing its total to 2,224 shares valued at $42,000.

As of now, institutional investors and hedge funds collectively own 69.58% of Norwegian Cruise Line’s stock.

Analysts’ Perspectives on Norwegian Cruise Line

Recent commentary from equities analysts indicates a mix of optimism and caution regarding Norwegian Cruise Line. Melius Research upgraded the company’s rating to “strong-buy” on April 21, 2023. Jefferies Financial Group revised its price target from $24.00 to $29.00, also assigning a “buy” rating. Conversely, Macquarie reduced its price target from $31.00 to $27.00, labeling the stock as “outperform.”

Barclays increased their price objective from $25.00 to $31.00 and categorized the stock as “overweight.” TD Cowen recently initiated coverage with a “buy” rating and a price target of $31.00. Currently, nine analysts have rated the stock with a hold, twelve have issued buy ratings, and two have given it a strong buy rating. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” with an average price target of $26.90.

Current Performance and Financials

On Friday, shares of Norwegian Cruise Line opened at $24.48. The company has a 50-day moving average of $20.77 and a 200-day moving average of $20.94. Financial metrics reveal a debt-to-equity ratio of 8.05, a current ratio of 0.18, and a quick ratio of 0.16. Over the past year, the stock has fluctuated between a low of $14.21 and a high of $29.29. The market capitalization stands at $10.94 billion, with a price-to-earnings ratio of 16.88 and a price-to-earnings-growth ratio of 1.02.

Norwegian Cruise Line’s recent quarterly earnings report, released on July 31, 2023, revealed earnings per share (EPS) of $0.51, slightly missing the consensus estimate of $0.52. The company reported revenue of $2.52 billion, which fell short of analyst expectations of $2.55 billion. Despite this, the company achieved a return on equity of 59.88% and a net margin of 7.52%. Revenue increased by 6.1% compared to the same quarter last year, as the prior year’s EPS was $0.40. Analysts project that Norwegian Cruise Line Holdings Ltd. will post an EPS of $1.48 for the current fiscal year.

Norwegian Cruise Line Holdings Ltd., along with its subsidiaries, operates a prominent cruise business across North America, Europe, the Asia-Pacific, and other regions. The company operates through its brands—Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises—offering diverse itineraries ranging from three to 180 days, covering destinations such as Scandinavia, Alaska, the Mediterranean, and the Caribbean.

Investors seeking more information on Norwegian Cruise Line can visit HoldingsChannel.com for the latest 13F filings and insider trades.