Oppenheimer Asset Management Inc. Decreases Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Oppenheimer Asset Management Inc. reduced its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 53.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,742 shares of the company’s stock after selling 4,353 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Royal Caribbean Cruises were worth $664,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RCL. Capital International Investors increased its position in shares of Royal Caribbean Cruises by 1.0% during 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 last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 worth $326,616,000 after buying an additional 400,565 shares in the last quarter. D1 Capital Partners L.P. increased 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 worth $241,075,000 after buying an additional 777,103 shares during the last quarter. Capital International Inc. CA grew its holdings in Royal Caribbean Cruises by 3.3% during 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 in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Royal Caribbean Cruises by 0.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 570,587 shares of the company’s stock worth $90,969,000 after purchasing an additional 1,865 shares during the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the completion of the sale, the chief accounting officer now directly owns 9,964 shares of the company’s stock, valued at approximately $2,077,593.64. This represents a 40.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 25,000 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total value of $5,250,500.00. Following the transaction, the director now directly owns 204,521 shares in the company, valued at approximately $42,953,500.42. This trade represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,796 shares of company stock valued at $7,170,759. 7.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays boosted their price objective on Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Susquehanna increased their price target on Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Tuesday, July 30th. Citigroup increased their target price on Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Truist Financial boosted their price target 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. Finally, Stifel Nicolaus lifted their price objective on shares of Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $220.00.

Royal Caribbean Cruises Stock Up 1.3 %

RCL opened at $234.67 on Wednesday. The stock’s fifty day moving average is $196.62 and its 200-day moving average is $169.67. The company has a market capitalization of $63.10 billion, a PE ratio of 24.12, a P/E/G ratio of 0.61 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a one year low of $102.77 and a one year high of $238.10. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.85 EPS. On average, equities 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.