Conning Inc. Makes New Investment in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Conning Inc. bought a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,181 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds also recently added to or reduced their stakes in RCL. Unique Wealth Strategies LLC acquired a new stake in Royal Caribbean Cruises during the 2nd quarter worth approximately $27,000. Versant Capital Management Inc raised its holdings in shares of Royal Caribbean Cruises by 905.3% in the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after purchasing an additional 172 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its holdings in shares of Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in shares of Royal Caribbean Cruises by 233.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Royal Caribbean Cruises by 50.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $37,000 after purchasing an additional 78 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Down 2.1 %

Shares of NYSE:RCL opened at $202.06 on Monday. The company has a market cap of $54.33 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 0.54 and a beta of 2.59. The firm’s 50-day simple moving average is $181.04 and its 200-day simple moving average is $162.00. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises Ltd. has a fifty-two week low of $86.75 and a fifty-two week high of $214.12.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the firm earned $3.85 earnings per share. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 11.66 earnings per share for the current year.

Analysts Set New Price Targets

RCL has been the topic of a number of analyst reports. Morgan Stanley raised their price objective on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Tigress Financial raised their price objective on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays raised their price objective on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Mizuho lifted their price target on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $214.00.

Insider Activity at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the transaction, the director now owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,596 shares of company stock worth $8,090,059 over the last 90 days. Company insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.