Highland Capital Management LLC reduced its holdings in Royal Caribbean Group (NYSE:RCL) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,685 shares of the company’s stock after selling 440 shares during the quarter. Highland Capital Management LLC’s holdings in Royal Caribbean Group were worth $1,856,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of RCL. Norges Bank bought a new stake in Royal Caribbean Group in the fourth quarter worth approximately $153,899,000. Morgan Stanley increased its holdings in shares of Royal Caribbean Group by 176.2% during the fourth quarter. Morgan Stanley now owns 1,199,606 shares of the company’s stock valued at $89,597,000 after acquiring an additional 765,284 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Royal Caribbean Group during the fourth quarter valued at approximately $32,028,000. Federated Hermes Inc. boosted its position in shares of Royal Caribbean Group by 144.5% during the fourth quarter. Federated Hermes Inc. now owns 706,037 shares of the company’s stock valued at $52,734,000 after buying an additional 417,233 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in shares of Royal Caribbean Group during the fourth quarter valued at approximately $29,581,000. Institutional investors and hedge funds own 59.07% of the company’s stock.
In related news, CFO Jason T. Liberty sold 3,000 shares of the company’s stock in a transaction dated Monday, April 12th. The shares were sold at an average price of $88.77, for a total transaction of $266,310.00. Following the transaction, the chief financial officer now owns 93,789 shares in the company, valued at approximately $8,325,649.53. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Henry L. Pujol sold 15,208 shares of the company’s stock in a transaction dated Wednesday, April 7th. The stock was sold at an average price of $95.00, for a total transaction of $1,444,760.00. Following the transaction, the chief accounting officer now owns 39,544 shares in the company, valued at approximately $3,756,680. The disclosure for this sale can be found here. In the last three months, insiders sold 76,688 shares of company stock worth $6,980,182. Insiders own 13.09% of the company’s stock.
Royal Caribbean Group (NYSE:RCL) last announced its quarterly earnings data on Thursday, April 29th. The company reported ($4.44) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($4.54) by $0.10. Royal Caribbean Group had a negative net margin of 24.36% and a negative return on equity of 25.20%. As a group, analysts anticipate that Royal Caribbean Group will post -18.31 EPS for the current year.
RCL has been the topic of a number of recent research reports. Zacks Investment Research raised Royal Caribbean Group from a “sell” rating to a “hold” rating and set a $70.00 price target on the stock in a research report on Thursday, January 28th. Truist Securities increased their price objective on Royal Caribbean Group from $48.00 to $68.00 in a report on Monday, March 15th. Morgan Stanley increased their target price on Royal Caribbean Group from $50.00 to $61.00 and gave the stock an “underweight” rating in a research report on Thursday, April 29th. UBS Group raised their price objective on Royal Caribbean Group from $79.00 to $116.00 and gave the company a “buy” rating in a research report on Wednesday, March 24th. Finally, The Goldman Sachs Group raised their price target on Royal Caribbean Group from $76.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. Royal Caribbean Group has an average rating of “Hold” and a consensus price target of $77.13.
Royal Caribbean Group Company Profile
Royal Caribbean Group operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of December 31, 2020, it operated 61 ships with an aggregate capacity of approximately 137,930 berths.
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