Independent Advisor Alliance Reduces Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Independent Advisor Alliance reduced its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,194 shares of the company’s stock after selling 92 shares during the period. Independent Advisor Alliance’s holdings in Royal Caribbean Cruises were worth $921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in RCL. D1 Capital Partners L.P. raised its position in Royal Caribbean Cruises by 105.7% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock worth $241,075,000 after buying an additional 777,103 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Royal Caribbean Cruises by 10,599.0% during the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock worth $72,696,000 after purchasing an additional 406,048 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Royal Caribbean Cruises by 24.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock valued at $326,616,000 after purchasing an additional 400,565 shares during the period. Forest Avenue Capital Management LP purchased a new stake in Royal Caribbean Cruises in the second quarter valued at $35,038,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in Royal Caribbean Cruises by 809.6% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company’s stock worth $27,601,000 after purchasing an additional 154,090 shares during the period. 87.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RCL. Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a report on Tuesday. They set an “outperform” rating and a $290.00 target price on the stock. Bank of America upped their price objective on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their target price on Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Truist Financial increased their price objective on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.38.

Insider Activity

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 owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the 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 sale, the director now directly owns 18,167,507 shares of the company’s stock, 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 a total of 404,332 shares of company stock valued at $94,299,521 in the last 90 days. 7.95% of the stock is currently owned by insiders.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock opened at $241.62 on Thursday. The firm’s 50-day simple moving average is $205.42 and its 200 day simple moving average is $173.61. Royal Caribbean Cruises Ltd. has a 52 week low of $105.36 and a 52 week high of $245.91. The firm has a market capitalization of $64.97 billion, a PE ratio of 24.83, a P/E/G ratio of 0.63 and a beta of 2.59. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL) last announced 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 the consensus estimate of $4.89 billion. During the same quarter in the previous year, the company posted $3.85 EPS. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 11.64 EPS for the current fiscal 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.