Truist Financial Corp Cuts Stock Holdings in Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH)

Truist Financial Corp lowered its position in shares of Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) by 27.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,712 shares of the company’s stock after selling 4,128 shares during the quarter. Truist Financial Corp’s holdings in Norwegian Cruise Line were worth $201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in Norwegian Cruise Line in the 1st quarter valued at $27,000. Sentry Investment Management LLC acquired a new stake in shares of Norwegian Cruise Line in the second quarter valued at about $39,000. Fidelis Capital Partners LLC purchased a new position in shares of Norwegian Cruise Line in the first quarter worth about $61,000. Redmont Wealth Advisors LLC acquired a new position in Norwegian Cruise Line during the first quarter worth about $80,000. Finally, Mather Group LLC. acquired a new position in Norwegian Cruise Line during the first quarter worth about $87,000. Hedge funds and other institutional investors own 69.58% of the company’s stock.

Norwegian Cruise Line Stock Performance

Shares of NCLH opened at $23.81 on Friday. Norwegian Cruise Line Holdings Ltd. has a 1 year low of $12.70 and a 1 year high of $24.80. The stock has a market capitalization of $10.22 billion, a PE ratio of 34.01, a PEG ratio of 0.33 and a beta of 2.71. The company has a debt-to-equity ratio of 17.19, a quick ratio of 0.22 and a current ratio of 0.24. The stock has a 50-day simple moving average of $19.30 and a 200-day simple moving average of $18.23.

Norwegian Cruise Line (NYSE:NCLH) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Norwegian Cruise Line had a net margin of 4.62% and a return on equity of 105.44%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts predict that Norwegian Cruise Line Holdings Ltd. will post 1.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Morgan Stanley upped their price target on Norwegian Cruise Line from $16.50 to $17.50 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Truist Financial upped their target price on Norwegian Cruise Line from $21.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Citigroup upgraded Norwegian Cruise Line from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $30.00 in a report on Wednesday, October 9th. StockNews.com raised shares of Norwegian Cruise Line from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, Bank of America raised their price objective on shares of Norwegian Cruise Line from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Norwegian Cruise Line currently has a consensus rating of “Hold” and a consensus target price of $23.30.

Norwegian Cruise Line Company Profile

Norwegian Cruise Line Holdings Ltd., together with its subsidiaries, operates as a cruise company in North America, Europe, the Asia-Pacific, and internationally. The company operates through the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. It offers itineraries ranging from three days to a 180-days calling on various ports, including Scandinavia, Northern Europe, the Mediterranean, the Greek Isles, Alaska, Canada and New England, Hawaii, Asia, Tahiti and the South Pacific, Australia and New Zealand, Africa, India, South America, the Panama Canal, and the Caribbean.