Rhumbline Advisers Raises Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Posted by Defense World Staff on Aug 29th, 2023

Rhumbline Advisers grew its position in Royal Caribbean Cruises Ltd. (NYSE:RCL – Free Report) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,139 shares of the company’s stock after purchasing an additional 5,295 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of Royal Caribbean Cruises worth $25,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of RCL. Manchester Capital Management LLC bought a new position in shares of Royal Caribbean Cruises in the first quarter worth approximately $25,000. Prostatis Group LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter worth approximately $32,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Royal Caribbean Cruises in the first quarter worth approximately $36,000. BDO Wealth Advisors LLC boosted its position in shares of Royal Caribbean Cruises by 74.0% during the first quarter. BDO Wealth Advisors LLC now owns 588 shares of the company’s stock worth $38,000 after acquiring an additional 250 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Royal Caribbean Cruises by 42.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 613 shares of the company’s stock worth $40,000 after acquiring an additional 182 shares during the last quarter. 75.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Maritza Gomez Montiel purchased 1,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average price of $103.70 per share, with a total value of $103,700.00. Following the purchase, the director now directly owns 13,592 shares of the company’s stock, valued at approximately $1,409,490.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 18,908 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $106.74, for a total transaction of $2,018,239.92. Following the transaction, the chief accounting officer now owns 23,521 shares of the company’s stock, valued at approximately $2,510,631.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maritza Gomez Montiel bought 1,000 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were acquired at an average cost of $103.70 per share, for a total transaction of $103,700.00. Following the transaction, the director now directly owns 13,592 shares in the company, valued at approximately $1,409,490.40. The disclosure for this purchase can be found here. 8.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

RCL has been the subject of a number of research reports. Barclays upped their target price on shares of Royal Caribbean Cruises from $113.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Bank of America upped their target price on shares of Royal Caribbean Cruises from $82.00 to $95.00 in a research report on Monday, June 12th. JPMorgan Chase & Co. increased their price objective on shares of Royal Caribbean Cruises from $100.00 to $103.00 in a research report on Monday, June 12th. StockNews.com started coverage on shares of Royal Caribbean Cruises in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Susquehanna increased their price objective on shares of Royal Caribbean Cruises from $85.00 to $127.00 and gave the company a “positive” rating in a research report on Friday, July 28th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and an average target price of $109.92.

View Our Latest Research Report on RCL

Royal Caribbean Cruises Trading Down 1.5 %

Shares of RCL opened at $98.32 on Tuesday. Royal Caribbean Cruises Ltd. has a twelve month low of $36.92 and a twelve month high of $112.95. The company has a market cap of $25.19 billion, a P/E ratio of -307.24 and a beta of 2.47. The company has a current ratio of 0.20, a quick ratio of 0.18 and a debt-to-equity ratio of 5.28. The company’s fifty day simple moving average is $101.90 and its 200-day simple moving average is $82.77.

Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.58 by $0.24. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.41 billion. Royal Caribbean Cruises had a negative net margin of 0.47% and a positive return on equity of 6.76%. The firm’s revenue was up 61.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.08) EPS. As a group, analysts expect that Royal Caribbean Cruises Ltd. will post 6.22 EPS for the current year.

Royal Caribbean Cruises 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.