Norwegian Cruise Line (NCLH)

• Market cap: $8.36B
• 1 day: 1.28%
• 5 days: -7.76%
• 1 month: -27.53%
• 3 months: -29.09%
• 6 months: -0.11%
• Year to date: -26.66%
• 1 year: -2.81%
• 5 years: 96.99%
• 10 years: -62.76%
• 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: 41,700

Fund manager confidence

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

167% more first-time investments, than exits

New positions opened: 163 | Existing positions closed: 61

140% more funds holding in top 10

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

37% more capital invested

Capital invested by funds: $6.57B [Q3] → $9B (+$2.43B) [Q4]

17% more funds holding

Funds holding: 563 [Q3] → 656 (+93) [Q4]

16% more repeat investments, than reductions

Existing positions increased: 201 | Existing positions reduced: 173

6.51% more ownership

Funds ownership: 72.98% [Q3] → 79.48% (+6.51%) [Q4]

32% less call options, than puts

Call options by funds: $494M | Put options by funds: $730M

Research analyst outlook

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

• Low target: $26 37% upside
• Avg. target: $30 60% upside
• High target: $36 89% upside

8 analyst ratings

• positive: 4 50%
• neutral: 4 50%
• negative: 0 0%

Tigress Financial Ivan Feinseth 58% 1-year accuracy 41 / 71 met price target	89% upside $36	Strong Buy Maintained	11 Mar 2025
B of A Securities Andrew Didora 82% 1-year accuracy 14 / 17 met price target	37% upside $26	Neutral Maintained	7 Mar 2025
Macquarie Paul Golding 30% 1-year accuracy 16 / 54 met price target	63% upside $31	Outperform Maintained	6 Mar 2025
Citigroup James Hardiman 16% 1-year accuracy 4 / 25 met price target	79% upside $34	Buy Maintained	28 Feb 2025
Wells Fargo Daniel Politzer 24% 1-year accuracy 14 / 59 met price target	47% upside $28	Equal-Weight Maintained	28 Feb 2025