Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Avantax Advisory Services Inc.

Posted by Defense World Staff on Jul 25th, 2023

Avantax Advisory Services Inc. cut its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL – Free Report) by 4.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 11,951 shares of the company’s stock after selling 555 shares during the period. Avantax Advisory Services Inc.’s holdings in Royal Caribbean Cruises were worth $780,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Quantinno Capital Management LP grew its stake in shares of Royal Caribbean Cruises by 1.5% during the 4th quarter. Quantinno Capital Management LP now owns 8,977 shares of the company’s stock valued at $444,000 after buying an additional 136 shares during the period. Sentry Investment Management LLC raised its stake in shares of Royal Caribbean Cruises by 10.5% in the 4th quarter. Sentry Investment Management LLC now owns 1,484 shares of the company’s stock valued at $73,000 after purchasing an additional 141 shares in the last quarter. Texas Permanent School Fund raised its stake in shares of Royal Caribbean Cruises by 0.5% in the 4th quarter. Texas Permanent School Fund now owns 31,078 shares of the company’s stock valued at $1,536,000 after purchasing an additional 158 shares in the last quarter. Czech National Bank raised its stake in shares of Royal Caribbean Cruises by 0.7% in the 1st quarter. Czech National Bank now owns 25,855 shares of the company’s stock valued at $1,688,000 after purchasing an additional 167 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Royal Caribbean Cruises by 42.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 613 shares of the company’s stock valued at $40,000 after purchasing an additional 182 shares in the last quarter. 71.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RCL has been the topic of several research reports. Argus increased their price objective on shares of Royal Caribbean Cruises from $88.00 to $92.00 in a research note on Wednesday, May 31st. Susquehanna raised their target price on shares of Royal Caribbean Cruises from $80.00 to $85.00 in a report on Friday, May 5th. Truist Financial raised their target price on shares of Royal Caribbean Cruises from $72.00 to $115.00 and gave the stock a “hold” rating in a report on Tuesday, July 18th. Stifel Nicolaus upped their price target on shares of Royal Caribbean Cruises from $100.00 to $120.00 in a research report on Friday, June 23rd. Finally, VNET Group restated a “maintains” rating on shares of Royal Caribbean Cruises in a research report on Monday, June 12th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.00.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 36,536 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total value of $2,922,880.00. Following the sale, the chief executive officer now directly owns 147,078 shares in the company, valued at approximately $11,766,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jason T. Liberty sold 36,536 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total transaction of $2,922,880.00. Following the completion of the transaction, the chief executive officer now directly owns 147,078 shares of the company’s stock, valued at approximately $11,766,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 375,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $80.74, for a total transaction of $30,277,500.00. Following the transaction, the director now directly owns 20,689,632 shares of the company’s stock, valued at $1,670,480,887.68. The disclosure for this sale can be found here. Insiders have sold 729,861 shares of company stock worth $58,020,180 in the last ninety days. Insiders own 8.70% of the company’s stock.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $102.93 on Tuesday. Royal Caribbean Cruises Ltd. has a 1 year low of $33.00 and a 1 year high of $105.21. The firm’s fifty day simple moving average is $93.10 and its 200 day simple moving average is $75.96. The company has a current ratio of 0.26, a quick ratio of 0.23 and a debt-to-equity ratio of 6.41. The firm has a market capitalization of $26.32 billion, a PE ratio of -25.29 and a beta of 2.47.

Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last posted its earnings results on Thursday, May 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.48. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. Royal Caribbean Cruises had a negative net margin of 9.72% and a negative return on equity of 25.86%. Royal Caribbean Cruises’s revenue was up 172.4% compared to the same quarter last year. During the same period last year, the business posted ($4.57) EPS. On average, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 4.73 EPS for the current year.

Royal Caribbean Cruises Company Profile

(Free Report)

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 13, 2023, it operated 64 ships. The company was founded in 1968 and is headquartered in Miami, Florida.