Parallel Advisors LLC Reduces Equity Position in Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)
Parallel Advisors LLC reduced its stake in Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH – Get Rating) by 38.5% during the 1st quarter, reports HoldingsChannel.com. The institutional investor held 1,724 shares of the company after selling 1,077 shares during the quarter. Parallel Advisors LLC’s holdings in Norwegian Cruise Line were worth $37,000 when it last filed with the SEC.
Several other hedge funds and other institutional investors have also recently changed their positions in NCLH. Pinnacle Financial Partners Inc. purchased a new stake in Norwegian Cruise Line stock in Q4 for a value of approximately $26,000. US Asset Management LLC acquired a new stake in Norwegian Cruise Line during Q1 valued at $28,000. Sterling Investment Advisors Ltd. acquired a new stake in Norwegian Cruise Line during Q4, valued at $29,000. Stonebridge Capital Advisors LLC increased its stake in Norwegian Cruise Line by 115.4% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 1,400 shares of the company valued at $29,000 after buying an additional 750 shares in the last quarter. Finally, DeDora Capital Inc. acquired a new stake in Norwegian Cruise Line during the 1st quarter at a value of $29,000. Hedge funds and other institutional investors hold 56.13% of the company’s shares.
Changes to analyst ratings
Several brokerages have commented on NCLH. Wells Fargo & Company reduced its target price on Norwegian Cruise Line from $27.00 to $21.00 in a Wednesday, May 11 research note. Deutsche Bank Aktiengesellschaft lowered its price target on Norwegian Cruise Line from $23.00 to $17.00 and set a “hold” rating on the stock in a Tuesday, June 21 report. Credit Suisse Group lowered its price target on Norwegian Cruise Line from $38.00 to $33.00 in a Wednesday May 11 report. Susquehanna began Norwegian Cruise Line coverage in a report on Thursday, June 9. They set a “positive” rating and a price target of $20.00 on the stock. Finally, Barclays began covering Norwegian Cruise Line in a report on Tuesday, June 28. They set an “equal weight” rating and a price target of $14.00 on the stock. Seven investment analysts gave the stock a hold rating and six gave the company a buy rating. According to MarketBeat, Norwegian Cruise Line currently has a consensus rating of “Hold” and a consensus price target of $23.14.
Norwegian Cruise Line Fare Performance
NYSE: NCLH opened at $11.97 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt ratio of 8.33. The company’s 50-day simple moving average is $13.21 and its two-hundred-day simple moving average is $17.78. The stock has a market capitalization of $5.02 billion, a PE ratio of -1.13 and a beta of 2.52. Norwegian Cruise Line Holdings Ltd. has a 52-week low of $10.31 and a 52-week high of $29.45.
Norwegian Cruise Line (NYSE:NCLH – Get Rating) last released its quarterly results on Tuesday, May 10. The company reported ($1.90) EPS for the quarter, missing analyst consensus estimates of ($1.80) by ($0.10). The company posted revenue of $521.90 million for the quarter, versus a consensus estimate of $760.34 million. Norwegian Cruise Line had a negative net margin of 353.02% and a negative return on equity of 116.64%. Norwegian Cruise Line’s revenue increased by 16735.5% compared to the same quarter last year. In the same period of the previous year, the company had earned earnings per share of ($2.03). As a group, analysts expect Norwegian Cruise Line Holdings Ltd. will show an EPS of -2.41 for the current financial year.
Separately, director Russell W. Galbut acquired 100,000 shares of the company in a transaction dated Monday, May 23. The shares were purchased at an average price of $15.12 per share, for a total transaction of $1,512,000.00. Following completion of the transaction, the administrator now directly owns 489,917 shares of the company, valued at approximately $7,407,545.04. The acquisition was disclosed in a filing with the SEC, which is available via this link. Insiders of the company own 0.77% of the shares of the company.
Norwegian Cruise Line Profile
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Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise line in North America, Europe, Asia-Pacific and internationally. The company operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. It offers itineraries ranging from three days to 180 days with stopovers in various locations, including destinations in Scandinavia, Russia, the Mediterranean, the Greek Islands, Alaska, Canada and New England, Hawaii, Asia , in Tahiti and the South Pacific, in Australia and New Zealand, Africa, India, South America, Panama Canal and the Caribbean.
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