Norwegian Cruise Line (NCLH)

• Market cap: $7.11B
• 1 day: -7.77%
• 5 days: -4.70%
• 1 month: -15.45%
• 3 months: -44.86%
• 6 months: -32.76%
• Year to date: -38.16%
• 1 year: -15.27%
• 5 years: -2.26%
• 10 years: -66.96%
• 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)

173% more first-time investments, than exits

New positions opened: 164 | Existing positions closed: 60

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] → 659 (+95) [Q4]

6.75% more ownership

Funds ownership: 72.67% [Q3] → 79.43% (+6.75%) [Q4]

32% less call options, than puts

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

Research analyst outlook

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

• Low target: $20 25% upside
• Avg. target: $27 71% upside
• High target: $36 125% upside

12 analyst ratings

• positive: 9 75%
• neutral: 3 25%
• negative: 0 0%

Goldman Sachs Lizzie Dove 43% 1-year accuracy 13 / 30 met price target	25% upside $20	Buy Maintained	23 Apr 2025
Barclays Brandt Montour 40% 1-year accuracy 35 / 87 met price target	43% upside $23	Overweight Maintained	22 Apr 2025
Loop Capital Laura Champine 50% 1-year accuracy 14 / 28 met price target	56% upside $25	Buy Upgraded	21 Apr 2025
Stifel Steven Wieczynski 44% 1-year accuracy 16 / 36 met price target	87% upside $30	Buy Maintained	16 Apr 2025
Morgan Stanley Stephen Grambling 45% 1-year accuracy 15 / 33 met price target	31% upside $21	Equal-Weight Maintained	10 Apr 2025