Investment Management Corp of Ontario Increases Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Investment Management Corp of Ontario raised its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 47.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,118 shares of the company’s stock after purchasing an additional 2,600 shares during the quarter. Investment Management Corp of Ontario’s holdings in Royal Caribbean Cruises were worth $1,440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Janus Henderson Group PLC grew its position in shares of Royal Caribbean Cruises by 5.6% during the third quarter. Janus Henderson Group PLC now owns 26,425 shares of the company’s stock worth $4,684,000 after buying an additional 1,400 shares in the last quarter. HighVista Strategies LLC acquired a new position in Royal Caribbean Cruises during the 3rd quarter worth $1,525,000. Hilltop Holdings Inc. acquired a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at about $388,000. Benjamin Edwards Inc. raised its stake in shares of Royal Caribbean Cruises by 74.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 4,601 shares of the company’s stock valued at $816,000 after purchasing an additional 1,962 shares in the last quarter. Finally, Atom Investors LP lifted its position in shares of Royal Caribbean Cruises by 28.7% during the third quarter. Atom Investors LP now owns 1,892 shares of the company’s stock worth $336,000 after purchasing an additional 422 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RCL has been the topic of several research reports. Citigroup upped their price objective on Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus upped their price target on Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, October 11th. The Goldman Sachs Group lifted their price objective on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Finally, Truist Financial lifted their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.63.

Royal Caribbean Cruises Price Performance

Shares of RCL opened at $251.12 on Friday. Royal Caribbean Cruises Ltd. has a one year low of $113.10 and a one year high of $255.70. The stock’s fifty day moving average is $213.77 and its 200-day moving average is $177.76. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. The firm has a market capitalization of $67.52 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 0.65 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating the consensus estimate of $5.05 by $0.15. The firm had revenue of $4.89 billion for 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 quarter last year, the company earned $3.85 EPS. Equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.64 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the sale, the executive vice president now directly owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of Royal Caribbean Cruises stock in a transaction that occurred 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 transaction, the director now owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 404,332 shares of company stock worth $94,299,521 over the last ninety days. Company insiders own 7.95% of the company’s stock.

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.