MetLife Investment Management LLC Lowers Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

MetLife Investment Management LLC cut its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.5% in the third quarter, HoldingsChannel.com reports. The firm owned 65,326 shares of the company’s stock after selling 1,641 shares during the quarter. MetLife Investment Management LLC’s holdings in Royal Caribbean Cruises were worth $11,586,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RCL. B. Riley Wealth Advisors Inc. lifted its holdings in Royal Caribbean Cruises by 19.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,821 shares of the company’s stock worth $670,000 after purchasing an additional 779 shares in the last quarter. Atria Investments Inc bought a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at about $1,190,000. Cetera Investment Advisers lifted its stake in shares of Royal Caribbean Cruises by 162.4% during the 1st quarter. Cetera Investment Advisers now owns 48,241 shares of the company’s stock worth $6,706,000 after acquiring an additional 29,854 shares during the last quarter. Cetera Advisors LLC boosted its position in Royal Caribbean Cruises by 51.6% in the 1st quarter. Cetera Advisors LLC now owns 11,629 shares of the company’s stock valued at $1,617,000 after buying an additional 3,958 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in Royal Caribbean Cruises by 45.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 49,649 shares of the company’s stock worth $6,951,000 after acquiring an additional 15,514 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the sale, the director now directly owns 204,521 shares of the company’s stock, valued at approximately $42,953,500.42. This trade represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the transaction, the executive vice president now directly owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock worth $94,299,521 in the last 90 days. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Price Performance

NYSE:RCL opened at $241.62 on Friday. The firm’s fifty day moving average is $206.82 and its two-hundred day moving average is $174.08. The firm has a market cap of $64.97 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 0.64 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a one year low of $105.36 and a one year high of $245.91. 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 announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The firm 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 quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.85 earnings per share. Research analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RCL. Macquarie boosted their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Truist Financial lifted their price objective on Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Wells Fargo & Company increased their target price on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their price target on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and a consensus target price of $224.38.

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.