BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 5,897 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 12.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,798 shares of the company’s stock after selling 5,897 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Royal Caribbean Cruises were worth $7,236,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Plato Investment Management Ltd acquired a new position in 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 during the 2nd quarter worth approximately $27,000. Versant Capital Management Inc boosted its holdings in shares of Royal Caribbean Cruises by 905.3% in the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after buying an additional 172 shares during the last quarter. DiNuzzo Private Wealth Inc. grew its stake in shares of Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after buying an additional 121 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its holdings in Royal Caribbean Cruises by 233.3% during the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock worth $32,000 after buying an additional 140 shares during the last quarter. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

NYSE:RCL opened at $244.06 on Monday. Royal Caribbean Cruises Ltd. has a 52 week low of $106.12 and a 52 week 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. The firm’s 50-day simple moving average is $208.22 and its 200 day simple moving average is $175.28. The firm has a market cap of $65.62 billion, a price-to-earnings ratio of 25.08, a P/E/G ratio of 0.64 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping the consensus estimate of $5.05 by $0.15. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations 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 last year, the firm earned $3.85 earnings per share. As a group, sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 25,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the sale, the chief accounting officer now owns 9,964 shares in the company, valued at $2,077,593.64. This represents a 40.29 % decrease in their position. 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 three months. Corporate insiders own 7.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on RCL shares. Sanford C. Bernstein started coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price target for the company. Macquarie upped their target price on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Tigress Financial lifted their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.