PNC Financial Services Group Inc. Purchases 2,251 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

PNC Financial Services Group Inc. raised its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.6% in the third quarter, Holdings Channel reports. The firm owned 64,321 shares of the company’s stock after acquiring an additional 2,251 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Royal Caribbean Cruises were worth $11,408,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Plato Investment Management Ltd bought a new stake in shares of Royal Caribbean Cruises during the third quarter valued at approximately $26,000. Unique Wealth Strategies LLC bought a new stake in shares of Royal Caribbean Cruises in the 2nd quarter worth $27,000. Versant Capital Management Inc raised its stake in shares of Royal Caribbean Cruises by 905.3% in the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after purchasing an additional 172 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Royal Caribbean Cruises by 257.4% during the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted its position in shares of Royal Caribbean Cruises by 233.3% during the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after buying an additional 140 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on RCL shares. Barclays upped their target price on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Susquehanna raised their target price on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Macquarie boosted their target price on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Bank of America increased their target price on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Finally, Tigress Financial boosted their price target on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.00.

Insider Activity at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now directly owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard D. Fain sold 25,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the completion of the sale, the director now owns 204,521 shares in the company, valued at approximately $42,953,500.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 407,405 shares of company stock valued at $94,817,966. 7.95% of the stock is owned by company insiders.

Royal Caribbean Cruises Stock Performance

RCL opened at $241.49 on Friday. The company has a 50 day simple moving average of $201.02 and a two-hundred day simple moving average of $171.29. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The firm has a market cap of $64.93 billion, a P/E ratio of 24.82, a PEG ratio of 0.62 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a 1-year low of $103.61 and a 1-year high of $242.20.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results 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. The company had revenue of $4.89 billion during 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%. Royal Caribbean Cruises’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.85 EPS. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current fiscal year.

Royal Caribbean Cruises 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.