Infusive Asset Management Inc. acquired a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,265 shares of the company’s stock, valued at approximately $934,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. B. Riley Wealth Advisors Inc. increased its holdings in Royal Caribbean Cruises by 19.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,821 shares of the company’s stock valued at $670,000 after buying an additional 779 shares during the last quarter. Atria Investments Inc acquired a new position in Royal Caribbean Cruises during the 1st quarter valued at about $1,190,000. Cetera Investment Advisers grew its position in Royal Caribbean Cruises by 162.4% in the 1st quarter. Cetera Investment Advisers now owns 48,241 shares of the company’s stock worth $6,706,000 after purchasing an additional 29,854 shares during the last quarter. Cetera Advisors LLC boosted its position in shares of Royal Caribbean Cruises by 51.6% during the first quarter. Cetera Advisors LLC now owns 11,629 shares of the company’s stock worth $1,617,000 after buying an additional 3,958 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in Royal Caribbean Cruises by 45.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 49,649 shares of the company’s stock worth $6,951,000 after buying an additional 15,514 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.
Analyst Ratings Changes
RCL has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price target on Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a report on Friday, October 11th. Truist Financial upped their price target on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Barclays lifted their price objective on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Bank of America increased their target price on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, Tigress Financial lifted their price target on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $224.38.
Insider Buying and Selling at Royal Caribbean Cruises
In other news, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the transaction, the chief accounting officer now owns 9,964 shares in the company, valued at $2,077,593.64. This represents a 40.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the completion of the sale, the director now owns 18,167,507 shares of the company’s stock, valued at $4,321,868,240.23. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 404,332 shares of company stock worth $94,299,521 over the last 90 days. 7.95% of the stock is currently owned by corporate insiders.
Royal Caribbean Cruises Trading Down 1.2 %
Shares of NYSE RCL opened at $241.62 on Friday. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises Ltd. has a one year low of $105.36 and a one year high of $245.91. The business has a 50-day moving average price of $206.82 and a two-hundred day moving average price of $174.08. The firm has a market capitalization of $64.97 billion, a PE ratio of 24.83, a PEG ratio of 0.64 and a beta of 2.59.
Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the business posted $3.85 EPS. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. As a group, analysts predict that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.
About Royal Caribbean Cruises
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.
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