Insider Selling: Norwegian Cruise Line Holdings Ltd. (NCLH) CEO Sells 3,077 Shares of Stock

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Norwegian Cruise Line Holdings Ltd. (NASDAQ:NCLH) CEO Rio Frank J. Del sold 3,077 shares of the stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $51.03, for a total value of $157,019.31. Following the transaction, the chief executive officer now owns 304,398 shares in the company, valued at approximately $15,533,429.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

NCLH traded down $0.52 during midday trading on Friday, hitting $48.75. 2,909,596 shares of the company were exchanged, compared to its average volume of 2,050,259. Norwegian Cruise Line Holdings Ltd. has a 1-year low of $41.61 and a 1-year high of $61.18.

Norwegian Cruise Line (NASDAQ:NCLH) last announced its earnings results on Thursday, November 8th. The company reported $2.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.06. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the firm posted $1.86 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year.

Hedge funds have recently bought and sold shares of the company. Glen Harbor Capital Management LLC raised its position in shares of Norwegian Cruise Line by 192.7% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 24,544 shares of the company’s stock worth $1,160,000 after acquiring an additional 16,160 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Norwegian Cruise Line by 158.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 99,600 shares of the company’s stock worth $4,706,000 after acquiring an additional 61,126 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Norwegian Cruise Line by 1.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 56,905 shares of the company’s stock worth $3,266,000 after acquiring an additional 995 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Norwegian Cruise Line by 14.2% in the 1st quarter. Principal Financial Group Inc. now owns 314,962 shares of the company’s stock worth $16,683,000 after acquiring an additional 39,113 shares in the last quarter. Finally, Mork Capital Management LLC raised its position in shares of Norwegian Cruise Line by 37.3% in the 2nd quarter. Mork Capital Management LLC now owns 41,200 shares of the company’s stock worth $1,947,000 after acquiring an additional 11,200 shares in the last quarter. 88.85% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have commented on NCLH. Deutsche Bank set a $68.00 price objective on Norwegian Cruise Line and gave the stock a “buy” rating in a research note on Friday. Macquarie raised Norwegian Cruise Line from an “underperform” rating to a “neutral” rating and set a $55.00 target price on the stock in a report on Thursday, November 1st. BidaskClub downgraded Norwegian Cruise Line from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 18th. Zacks Investment Research raised Norwegian Cruise Line from a “sell” rating to a “hold” rating in a report on Friday, July 20th. Finally, Stifel Nicolaus raised their target price on Norwegian Cruise Line from $70.00 to $71.00 and gave the company a “buy” rating in a report on Friday, August 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. Norwegian Cruise Line currently has a consensus rating of “Buy” and an average price target of $64.80.

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About Norwegian Cruise Line

Norwegian Cruise Line Holdings Ltd. (NCLH) is a global cruise company. The Company operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. The Company had 25 ships with approximately 50,400 Berths, as of May 1, 2017. The Company’s brands offer itineraries to various destinations around the world, including Europe, Asia, Australia, New Zealand, South America, Africa, Canada, Bermuda, Caribbean, Alaska and Hawaii.

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