Patriot Financial Group Insurance Agency LLC Makes New Investment in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,186 shares of the company’s stock, valued at approximately $210,000.

Other large investors have also recently bought and sold shares of the company. Blair William & Co. IL grew its stake in Royal Caribbean Cruises by 37.4% during the first quarter. Blair William & Co. IL now owns 102,133 shares of the company’s stock worth $14,197,000 after buying an additional 27,819 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in Royal Caribbean Cruises by 2.6% during the third quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock worth $51,349,000 after buying an additional 7,298 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Royal Caribbean Cruises by 17.2% in the 2nd quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock valued at $6,156,000 after purchasing an additional 5,655 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Royal Caribbean Cruises in the 2nd quarter valued at approximately $611,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Royal Caribbean Cruises by 8.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,575 shares of the company’s stock valued at $6,310,000 after purchasing an additional 2,640 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Down 0.8 %

Shares of NYSE RCL opened at $208.34 on Thursday. The company has a market capitalization of $53.62 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 0.58 and a beta of 2.61. Royal Caribbean Cruises Ltd. has a 52-week low of $83.25 and a 52-week high of $214.12. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19. The company’s 50 day moving average price is $179.29 and its 200-day moving average price is $160.68.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the company posted $3.85 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post 11.61 earnings per share for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, CFO Naftali Holtz acquired 5,350 shares of Royal Caribbean Cruises stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $140.00 per share, with a total value of $749,000.00. Following the transaction, the chief financial officer now directly owns 48,256 shares in the company, valued at $6,755,840. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Naftali Holtz acquired 5,350 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the completion of the acquisition, the chief financial officer now owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $158.50, for a total value of $919,300.00. Following the completion of the sale, the director now owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a research note on Tuesday. Tigress Financial raised their price target on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley raised their price target on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Citigroup raised their price target on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Mizuho raised their price target on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $214.00.

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.