Polymer Capital Management HK LTD Trims Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Polymer Capital Management HK LTD reduced its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 16.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,000 shares of the company’s stock after selling 3,000 shares during the period. Polymer Capital Management HK LTD’s holdings in Royal Caribbean Cruises were worth $2,660,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. FSM Wealth Advisors LLC boosted its position in shares of Royal Caribbean Cruises by 3.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock worth $290,000 after purchasing an additional 51 shares in the last quarter. Venturi Wealth Management LLC raised its stake in Royal Caribbean Cruises by 20.9% during the third quarter. Venturi Wealth Management LLC now owns 353 shares of the company’s stock valued at $63,000 after buying an additional 61 shares during the last quarter. Venture Visionary Partners LLC boosted its holdings in Royal Caribbean Cruises by 4.8% in the third quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company’s stock worth $242,000 after acquiring an additional 62 shares in the last quarter. Empower Advisory Group LLC grew its stake in shares of Royal Caribbean Cruises by 3.7% in the third quarter. Empower Advisory Group LLC now owns 1,755 shares of the company’s stock worth $311,000 after acquiring an additional 63 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. increased its holdings in shares of Royal Caribbean Cruises by 3.3% during the third quarter. Ipswich Investment Management Co. Inc. now owns 2,201 shares of the company’s stock valued at $390,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

NYSE RCL opened at $245.89 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises Ltd. has a twelve month low of $110.66 and a twelve month high of $249.52. The business has a 50-day moving average price of $210.95 and a 200-day moving average price of $176.74. The firm has a market cap of $66.11 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 0.65 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly 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 business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the prior year, the company posted $3.85 EPS. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 11.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective 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, October 29th. The Goldman Sachs Group boosted their price objective on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley increased their target price on 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. Barclays upped their price target on Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Macquarie lifted their price objective on Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and fourteen 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 $228.63.

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 shares were sold at an average price of $208.51, for a total value of $1,401,812.73. Following the sale, the chief accounting officer now directly owns 9,964 shares of the company’s stock, valued at $2,077,593.64. This represents a 40.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the transaction, the executive vice president now owns 22,348 shares in the company, valued at $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 404,332 shares of company stock valued at $94,299,521 in the last 90 days. Insiders own 7.95% of the company’s stock.

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.