Stock traders buy large volume of put options from Norwegian Cruise Line (NYSE:NCLH)

Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH – Get Rating) was the target of unusually large options trades on Friday. Investors bought 71,576 put options on the stock. This is an increase of approximately 41% from the typical daily volume of 50,925 put options.

Analyst upgrades and downgrades

NCLH has been the subject of several research analyst reports. Barclays raised its price target on Norwegian Cruise Line from $14.00 to $16.00 and gave the company an “equal weight” rating in a Monday, September 19 research report. Deutsche Bank Aktiengesellschaft cut its price target on Norwegian Cruise Line from $17.00 to $16.00 and set a “hold” rating for the company in a Wednesday, Aug. 10 research note. Morgan Stanley cut its price target on Norwegian Cruise Line from $14.00 to $13.00 and set an “equal weight” rating for the company in a Friday, August 12 research note. Susquehanna reduced its price target on Norwegian Cruise Line from $20.00 to $15.00 and gave the company a “positive” rating in a Wednesday, August 10 research note. Finally, Truist Financial upgraded Norwegian Cruise Line from a “hold” rating to a “buy” rating and raised its share price target from $18.00 to $19.00 in a research report by the Tuesday, September 20. Six research analysts gave the stock a hold rating and seven gave the stock a buy rating. According to MarketBeat.com, Norwegian Cruise Line currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.54.

Norwegian Cruise Line inventory drops 13.9%

NYSE NCLH traded at $1.93 during Friday trading, rising to $11.93. 1,627,348 shares of the company have been traded, against an average volume of 19,305,358. The company has a current ratio of 0.62, a quick ratio of 0.59 and a debt ratio of 13.57. The company has a fifty-day simple moving average of $13.56 and a 200-day simple moving average of $15.45. The company has a market capitalization of $5.03 billion, a P/E ratio of -1.29 and a beta of 2.40. Norwegian Cruise Line has a 12-month minimum of $10.31 and a 12-month maximum of $29.45.

Norwegian Cruise Line (NYSE:NCLH – Get Rating) last released quarterly earnings data on Tuesday, August 9. The company reported ($1.22) EPS for the quarter, missing analyst consensus estimates of ($0.87) by ($0.35). The company posted revenue of $1.19 billion in the quarter, versus a consensus estimate of $1.25 billion. Norwegian Cruise Line had a negative return on equity of 148.50% and a negative net margin of 166.44%. The company’s revenue for the quarter increased 26,881.8% year over year. During the same quarter of the previous year, the firm had posted ($1.93) earnings per share. As a group, sell-side analysts expect Norwegian Cruise Line to post EPS of -4.43 for the current year.

Insider buying and selling

In related news, CEO Jason Montague sold 62,758 shares of the company in a trade that took place on Monday, September 12. The stock was sold at an average price of $14.68, for a total value of $921,287.44. Following the sale, the CEO now owns 258,881 shares of the company, valued at approximately $3,800,373.08. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In related news, CEO Jason Montague sold 62,758 shares of the company in a trade that took place on Monday, September 12. The stock was sold at an average price of $14.68, for a total value of $921,287.44. As a result of the sale, the CEO now directly owns 258,881 shares of the company, valued at approximately $3,800,373.08. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, Chief Financial Officer Mark Kempa sold 55,000 shares of the company in a trade that took place on Wednesday, August 24. The shares were sold at an average price of $13.50, for a total value of $742,500.00. Following the completion of the sale, the CFO now owns 222,651 shares of the company, valued at $3,005,788.50. The disclosure of this sale can be found here. Insiders of the company own 0.77% of the shares of the company.

Hedge funds weigh on Norwegian Cruise Line

Institutional investors and hedge funds have recently increased or reduced their stake in the company. Covestor Ltd increased its holdings in Norwegian Cruise Line by 5,020.8% in the first quarter. Covestor Ltd now owns 1,229 shares in the company valued at $27,000 after buying an additional 1,205 shares in the last quarter. US Asset Management LLC acquired a new position in Norwegian Cruise Line in Q1 worth $28,000. Trustments Capital LLC acquired a new position in Norwegian Cruise Line in Q2 worth $28,000. DeDora Capital Inc. acquired a new position in Norwegian Cruise Line stock during Q1 worth approximately $29,000. Finally, City State Bank acquired a new position in shares of Norwegian Cruise Line during the 4th quarter for a value of approximately $33,000. 57.80% of the shares are currently held by institutional investors.

Norwegian Cruise Line Company 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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