Moors & Cabot Inc. Grows Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Moors & Cabot Inc. grew its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,154 shares of the company’s stock after buying an additional 103 shares during the period. Moors & Cabot Inc.’s holdings in Royal Caribbean Cruises were worth $914,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RCL. Bessemer Group Inc. raised its holdings in Royal Caribbean Cruises by 411.0% in the 1st quarter. Bessemer Group Inc. now owns 14,119 shares of the company’s stock worth $1,962,000 after purchasing an additional 11,356 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Royal Caribbean Cruises by 7.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 96,265 shares of the company’s stock worth $13,379,000 after buying an additional 6,780 shares during the period. Pitcairn Co. boosted its position in Royal Caribbean Cruises by 3.8% during the 1st quarter. Pitcairn Co. now owns 2,376 shares of the company’s stock valued at $330,000 after acquiring an additional 88 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in shares of Royal Caribbean Cruises during the 1st quarter worth approximately $988,000. Finally, Advisors Asset Management Inc. raised its position in shares of Royal Caribbean Cruises by 4.2% in the 1st quarter. Advisors Asset Management Inc. now owns 13,355 shares of the company’s stock worth $1,856,000 after acquiring an additional 536 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $238.20 on Friday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. The firm has a market cap of $64.05 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 0.62 and a beta of 2.59. The business has a 50-day simple moving average of $199.55 and a two-hundred day simple moving average of $170.60. Royal Caribbean Cruises Ltd. has a fifty-two week low of $103.61 and a fifty-two week high of $239.39.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. The company 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 firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.85 earnings per share. On average, analysts expect that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Arne Alexander Wilhelmsen sold 139,353 shares of Royal Caribbean Cruises 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura H. Bethge sold 3,073 shares of the company’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 value of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The trade was a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 407,405 shares of company stock valued at $94,817,966. 7.95% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on RCL. The Goldman Sachs Group lifted their price target on Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Bank of America increased their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Citigroup boosted their price objective on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus upped their price objective on shares of Royal Caribbean Cruises from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Susquehanna boosted 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. One 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $220.00.

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.