Eagle Asset Management Inc. Sells 109,616 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Eagle Asset Management Inc. lowered its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 11.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 877,567 shares of the company’s stock after selling 109,616 shares during the period. Royal Caribbean Cruises makes up approximately 0.8% of Eagle Asset Management Inc.’s holdings, making the stock its 22nd biggest position. Eagle Asset Management Inc.’s holdings in Royal Caribbean Cruises were worth $155,645,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Wedge Capital Management L L P NC grew its position in Royal Caribbean Cruises by 2.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock worth $51,349,000 after purchasing an additional 7,298 shares during the period. QRG Capital Management Inc. lifted its position in shares of Royal Caribbean Cruises by 17.2% during the 2nd quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock valued at $6,156,000 after buying an additional 5,655 shares in the last quarter. Souders Financial Advisors bought a new position in shares of Royal Caribbean Cruises during the 3rd quarter valued at approximately $800,000. Swiss National Bank increased its stake in shares of Royal Caribbean Cruises by 0.5% in the third quarter. Swiss National Bank now owns 725,638 shares of the company’s stock worth $128,699,000 after purchasing an additional 3,800 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in Royal Caribbean Cruises in the 2nd quarter worth $611,000. 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 that occurred on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the completion of the sale, the director now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction dated 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 owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 407,405 shares of company stock worth $94,817,966 over the last three months. 7.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group lifted their target price on Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com lowered Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research note on Monday. Macquarie boosted their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays lifted their price objective on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $220.00.

Royal Caribbean Cruises Trading Up 1.0 %

Shares of Royal Caribbean Cruises stock opened at $238.20 on Friday. The firm has a fifty day moving average price of $199.55 and a 200 day moving average price of $170.60. The stock has a market cap of $64.05 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 0.62 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 $103.61 and a 1 year high of $239.39.

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. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the firm earned $3.85 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis. Equities research analysts predict that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current year.

About Royal Caribbean Cruises

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.