Forsta AP Fonden Purchases 5,000 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Posted by on Apr 24th, 2023

Forsta AP Fonden increased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL – Get Rating) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,800 shares of the company’s stock after acquiring an additional 5,000 shares during the period. Forsta AP Fonden’s holdings in Royal Caribbean Cruises were worth $2,956,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Riverview Trust Co purchased a new position in Royal Caribbean Cruises in the third quarter valued at approximately $34,000. Parkside Financial Bank & Trust increased its holdings in Royal Caribbean Cruises by 32.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 885 shares of the company’s stock worth $34,000 after acquiring an additional 215 shares during the last quarter. Pinnacle Financial Partners Inc. bought a new stake in Royal Caribbean Cruises in the 3rd quarter valued at about $38,000. Accurate Wealth Management LLC purchased a new stake in Royal Caribbean Cruises during the fourth quarter valued at about $38,000. Finally, First Horizon Advisors Inc. lifted its holdings in Royal Caribbean Cruises by 86.2% during the third quarter. First Horizon Advisors Inc. now owns 1,056 shares of the company’s stock valued at $39,000 after purchasing an additional 489 shares during the last quarter. 74.27% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Up 1.3 %

NYSE RCL opened at $63.02 on Monday. Royal Caribbean Cruises Ltd. has a 1 year low of $31.09 and a 1 year high of $83.70. The stock has a market capitalization of $16.11 billion, a PE ratio of -7.45 and a beta of 2.44. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.37 and a quick ratio of 0.35. The business’s 50-day moving average is $66.57 and its 200 day moving average is $59.89.

Royal Caribbean Cruises (NYSE:RCL – Get Rating) last issued its quarterly earnings data on Tuesday, February 7th. The company reported ($1.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.25. Royal Caribbean Cruises had a negative return on equity of 56.86% and a negative net margin of 24.39%. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the company earned ($4.78) EPS. The business’s quarterly revenue was up 165.0% compared to the same quarter last year. Sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 3.23 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Royal Caribbean Cruises from $50.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, February 10th. UBS Group increased their target price on Royal Caribbean Cruises from $82.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. Bank of America upgraded shares of Royal Caribbean Cruises from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $40.00 to $78.00 in a research report on Wednesday, February 8th. StockNews.com assumed coverage on shares of Royal Caribbean Cruises in a report on Thursday, March 16th. They issued a “sell” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Royal Caribbean Cruises from $62.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, February 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $76.62.

Royal Caribbean Cruises Company Profile

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Royal Caribbean Group is a cruise company, which engages in the ownership and operation of the following global cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. The firm also holds interest in TUI Cruises GmbH, which operates the German brands TUI Cruises and Hapag-Lloyd Cruises.

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Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

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