Norwegian Cruise Line (NCLH)

• Market cap: $7.26B
• 1 day: 1.80%
• 5 days: -1.27%
• 1 month: -18.26%
• 3 months: -39.71%
• 6 months: -32.06%
• Year to date: -36.81%
• 1 year: -9.10%
• 5 years: 32.31%
• 10 years: -68.63%
• Sector: Consumer Discretionary
• Industry: Travel Services

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 disclosures by fund managers ($100M+ AUM)

169% more first-time investments, than exits

New positions opened: 164 | 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: $6.55B [Q3] → $8.99B (+$2.45B) [Q4]

19% more repeat investments, than reductions

Existing positions increased: 203 | Existing positions reduced: 171

17% more funds holding

Funds holding: 564 [Q3] → 658 (+94) [Q4]

6.75% more ownership

Funds ownership: 72.67% [Q3] → 79.42% (+6.75%) [Q4]

32% less call options, than puts

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

Research analyst outlook

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

• Low target: $21 28% upside
• Avg. target: $29 75% upside
• High target: $36 120% upside

10 analyst ratings

• positive: 6 60%
• neutral: 4 40%
• negative: 0 0%

Stifel Steven Wieczynski 29% 1-year accuracy 10 / 34 met price target	83% upside $30	Buy Maintained	16 Apr 2025
Morgan Stanley Stephen Grambling 41% 1-year accuracy 11 / 27 met price target	28% upside $21	Equal-Weight Maintained	10 Apr 2025
Jefferies David Katz 22% 1-year accuracy 6 / 27 met price target	53% upside $25	Buy Initiated	31 Mar 2025
JP Morgan Matthew Boss 41% 1-year accuracy 33 / 81 met price target	83% upside $30	Overweight Upgraded	17 Mar 2025
Tigress Financial Ivan Feinseth 46% 1-year accuracy 31 / 67 met price target	120% upside $36	Strong Buy Maintained	11 Mar 2025