Norwegian Cruise Line (NCLH)

• Market cap: $10.6B
• 1 day: -6.11%
• 5 days: -8.47%
• 1 month: -10.84%
• 3 months: -9.90%
• 6 months: 46.65%
• Year to date: -6.98%
• 1 year: 49.75%
• 5 years: -48.67%
• 10 years: -49.62%
• Sector: Industrials
• Industry: Water Transportation

About: Norwegian Cruise Line is the world's third-largest publicly traded cruise company by berths (around 66,500). It operates 32 ships across three brands—Norwegian, Oceania, and Regent Seven Seas—offering both freestyle and luxury cruising. The company redeployed its entire fleet as of May 2022. With 13 passenger vessels on order among its brands through 2036, representing 41,000 incremental berths, Norwegian is increasing capacity faster than its peers, expanding its brand globally. Norwegian sails to around 700 global destinations.

Employees: 35,900

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

164% more first-time investments, than exits

New positions opened: 153 | Existing positions closed: 58

140% more funds holding in top 10

Funds holding in top 10: 5 [Q3] → 12 (+7) [Q4]

36% more capital invested

Capital invested by funds: $6.57B [Q3] → $8.97B (+$2.4B) [Q4]

15% more repeat investments, than reductions

Existing positions increased: 197 | Existing positions reduced: 171

14% more funds holding

Funds holding: 562 [Q3] → 638 (+76) [Q4]

4.44% more ownership

Funds ownership: 74.8% [Q3] → 79.24% (+4.44%) [Q4]

32% less call options, than puts

Call options by funds: $494M | Put options by funds: $727M

Research analyst outlook

6 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $26 8% upside
• Avg. target: $31 30% upside
• High target: $35 45% upside

6 analyst ratings

• positive: 4 67%
• neutral: 2 33%
• negative: 0 0%

Loop Capital Laura Champine 59% 1-year accuracy 16 / 27 met price target	8% upside $26	Hold Initiated	4 Feb 2025
Macquarie Paul Golding 65% 1-year accuracy 31 / 48 met price target	24% upside $30	Outperform Maintained	17 Jan 2025
JP Morgan Matthew Boss 52% 1-year accuracy 40 / 77 met price target	24% upside $30	Neutral Maintained	17 Dec 2024
Barclays Brandt Montour 65% 1-year accuracy 53 / 81 met price target	33% upside $32	Overweight Upgraded	13 Dec 2024
Goldman Sachs Lizzie Dove 56% 1-year accuracy 15 / 27 met price target	45% upside $35	Buy Upgraded	10 Dec 2024