HighTower Advisors LLC Decreases Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

HighTower Advisors LLC decreased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 50.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,668 shares of the company’s stock after selling 42,097 shares during the quarter. HighTower Advisors LLC’s holdings in Royal Caribbean Cruises were worth $7,212,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Plato Investment Management Ltd purchased a new position in shares of Royal Caribbean Cruises during the third quarter valued at approximately $26,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Royal Caribbean Cruises by 257.4% during the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares during the last quarter. Unique Wealth Strategies LLC purchased a new stake in Royal Caribbean Cruises during the 2nd quarter valued at $27,000. AlphaMark Advisors LLC raised its stake in Royal Caribbean Cruises by 233.3% during the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after buying an additional 140 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in Royal Caribbean Cruises by 50.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $37,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Activity

In related news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total value of $53,732,600.00. Following the sale, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock worth $94,299,521 over the last 90 days. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Trading Down 4.2 %

Shares of RCL opened at $247.13 on Tuesday. The firm has a market cap of $66.45 billion, a P/E ratio of 25.40, a price-to-earnings-growth ratio of 0.68 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises Ltd. has a 1 year low of $113.10 and a 1 year high of $258.70. The company has a 50 day simple moving average of $216.77 and a two-hundred day simple moving average of $179.65.

Royal Caribbean Cruises (NYSE:RCL) last posted 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. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. Royal Caribbean Cruises’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the company posted $3.85 earnings per share. On average, equities analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RCL has been the subject of a number of research reports. Stifel Nicolaus upped their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research report on Friday. Macquarie upped their price target on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Bank of America upped their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Wells Fargo & Company upped their target price on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Truist Financial upped their target price on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $233.63.

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.