Norwegian Cruise Line (NCLH)

• Market cap: $11.9B
• 1 day: 2.76%
• 5 days: 6.80%
• 1 month: 2.96%
• 3 months: 12.69%
• 6 months: 36.81%
• Year to date: 4.82%
• 1 year: 59.07%
• 5 years: -54.45%
• 10 years: -39.62%
• 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 Q3 regulatory filings by fund managers ($100M+ AUM)

45% more first-time investments, than exits

New positions opened: 80 | Existing positions closed: 55

35% more repeat investments, than reductions

Existing positions increased: 198 | Existing positions reduced: 147

17% more capital invested

Capital invested by funds: $5.64B [Q2] → $6.57B (+$938M) [Q3]

4.87% more ownership

Funds ownership: 69.92% [Q2] → 74.8% (+4.87%) [Q3]

3% more funds holding

Funds holding: 544 [Q2] → 560 (+16) [Q3]

0% more funds holding in top 10

Funds holding in top 10: 5 [Q2] → 5 (+0) [Q3]

48% less call options, than puts

Call options by funds: $313M | Put options by funds: $598M

Research analyst outlook

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

• Low target: $24 12% downside
• Avg. target: $30 11% upside
• High target: $36 32% upside

12 analyst ratings

• positive: 6 50%
• neutral: 5 42%
• negative: 1 8%

Macquarie Paul Golding 71% 1-year accuracy 32 / 45 met price target	10% upside $30	Outperform Maintained	17 Jan 2025
JP Morgan Matthew Boss 47% 1-year accuracy 34 / 72 met price target	10% upside $30	Neutral Maintained	17 Dec 2024
Barclays Brandt Montour 45% 1-year accuracy 37 / 83 met price target	18% upside $32	Overweight Upgraded	13 Dec 2024
Goldman Sachs Lizzie Dove 56% 1-year accuracy 14 / 25 met price target	29% upside $35	Buy Upgraded	10 Dec 2024
Truist Securities Patrick Scholes 57% 1-year accuracy 42 / 74 met price target	29% upside $35	Buy Maintained	2 Dec 2024