Highland Capital Management LLC Lowers Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Highland Capital Management LLC lowered its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 29.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 19,985 shares of the company’s stock after selling 8,457 shares during the quarter. Highland Capital Management LLC’s holdings in Royal Caribbean Cruises were worth $3,545,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Capital International Investors boosted its stake in shares of Royal Caribbean Cruises by 1.0% in the first quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock worth $4,114,203,000 after acquiring an additional 286,868 shares during the period. Vanguard Group Inc. lifted its position in shares of Royal Caribbean Cruises by 0.5% in the first quarter. Vanguard Group Inc. now owns 25,409,272 shares of the company’s stock worth $3,532,143,000 after buying an additional 132,079 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Royal Caribbean Cruises by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after buying an additional 400,565 shares during the last quarter. D1 Capital Partners L.P. raised its stake in shares of Royal Caribbean Cruises by 105.7% in the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock valued at $241,075,000 after acquiring an additional 777,103 shares during the period. Finally, Capital International Inc. CA lifted its holdings in shares of Royal Caribbean Cruises by 3.3% in the 1st quarter. Capital International Inc. CA now owns 601,917 shares of the company’s stock worth $83,672,000 after acquiring an additional 19,065 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Buying and Selling

In related news, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the transaction, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the completion of the transaction, the director now directly owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the sale, the insider now directly owns 27,388 shares in the company, valued at $4,620,629.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RCL shares. Macquarie raised their price objective on shares of Royal Caribbean Cruises from $165.00 to $189.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on Royal Caribbean Cruises from $210.00 to $213.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Mizuho upped their price target on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. UBS Group boosted their price objective on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group raised their target price on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $197.27.

Royal Caribbean Cruises Price Performance

Shares of RCL opened at $200.91 on Friday. The firm has a market capitalization of $51.70 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 0.58 and a beta of 2.61. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. The company’s fifty day moving average price is $176.41 and its 200-day moving average price is $159.08. Royal Caribbean Cruises Ltd. has a 1-year low of $78.35 and a 1-year high of $204.37.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the business earned $1.82 EPS. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 11.61 EPS 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.