Faye L. Ashby, the Senior Vice President and Chief Accounting Officer of Norwegian Cruise Line (NYSE:NCLH) Holdings Ltd. (NYSE:NCLH), has sold 19,582 shares of the company's common stock, according to a recent SEC filing. The transaction, which took place on June 5, 2024, resulted in a total sale amount of approximately $360,614, with the shares being sold at a weighted-average price of $18.4156. The price range for these shares was between $18.385 and $18.445.
This sale has adjusted Ashby's direct ownership in the company to 163,579 shares following the transaction. The SEC filing also noted that on the same day, Ashby donated 8,965 shares of Norwegian Cruise Line's common stock to a donor-advised fund. The donated shares, valued at $0 in the transaction, are intended for charitable purposes as directed by Ashby.
Investors often monitor insider transactions as they can provide insights into an executive's view of the company's stock value and financial health. With this recent filing, stakeholders can stay informed about the trading activities of Norwegian Cruise Line's executives.
The filing was signed by Daniel S. Farkas, acting as attorney-in-fact for Faye L. Ashby, and was dated June 6, 2024.
In other recent news, Norwegian Cruise Line Holdings (NCLH) is demonstrating promising financial growth, with earnings per share (EPS) forecasts of $1.42 for the first fiscal year and $1.95 for the second fiscal year. Mizuho Securities recently upgraded NCLH stock from a Neutral to a Buy rating, citing the company's cost control initiatives and strategic reorganization of itineraries. Meanwhile, BofA Securities maintained its Neutral rating on NCLH shares, following the company's increased guidance for 2024.
Simultaneously, NCLH is embarking on significant expansion plans, including the development of a new pier at Great Stirrup Cay and an ambitious order for eight new ships. This expansion is expected to represent a 65% capacity growth over the next 12 years. However, the company's strategic focus on the North American market might limit yield growth, and capital expenditures for expansion could impact short-term financials.
In the wake of increased ship capacity, major cruise operators, including NCLH, are offering discounts on summer voyages. Despite record demand and a surge in revenue, domestic cruise prices in the United States this summer are expected to be lower than last year. These recent developments reflect the dynamic and evolving nature of the cruise industry.
InvestingPro Insights
In light of the recent insider trading activity by Norwegian Cruise Line Holdings Ltd . (NYSE:NCLH) Senior Vice President and Chief Accounting Officer, Faye L. Ashby, it is notable that the company has been experiencing a significant return over the last week, with a 12.1% increase in price total return. This aligns closely with the weighted-average price of $18.4156 at which Ashby sold shares.
From an analytical perspective, Norwegian Cruise Line is trading at a high Price / Book multiple of 21.53 as of the last twelve months ending Q1 2024, which could indicate that the market values the company's assets highly relative to its equity. Moreover, the company's net income is expected to grow this year, which may have contributed to the decision by 11 analysts to revise their earnings upwards for the upcoming period, as noted in the InvestingPro Tips.
InvestingPro Data also shows that the company's revenue has grown by 45.17% in the last twelve months as of Q1 2024, reflecting a robust recovery potentially driven by increased demand for cruise vacations as global travel resumes post-pandemic. With a P/E Ratio of 22.3, the stock may appear to be valued fairly relative to its earnings, especially when considering the near-term growth prospects.
For investors seeking deeper insights and additional analysis, there are more InvestingPro Tips available, including assessments of the company's debt load, liquidity, and profitability. Explore these tips and more by visiting https://www.investing.com/pro/NCLH and take advantage of the exclusive offer using coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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