Colonial River Investments LLC Invests $323,000 in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Colonial River Investments LLC purchased a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 1,819 shares of the company’s stock, valued at approximately $323,000.

A number of other hedge funds have also bought and sold shares of the business. Axxcess Wealth Management LLC acquired a new stake in Royal Caribbean Cruises during the third quarter worth approximately $323,000. Lindbrook Capital LLC grew its holdings in shares of Royal Caribbean Cruises by 11.8% during the 3rd quarter. Lindbrook Capital LLC now owns 1,206 shares of the company’s stock worth $214,000 after purchasing an additional 127 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Royal Caribbean Cruises in the third quarter worth $549,000. Hollencrest Capital Management acquired a new position in Royal Caribbean Cruises in the third quarter valued at about $130,000. Finally, Capital Performance Advisors LLP bought a new stake in Royal Caribbean Cruises during the third quarter worth about $61,000. 87.53% of the stock is owned by institutional investors.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock opened at $225.27 on Monday. 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 52 week low of $92.15 and a 52 week high of $228.08. The firm has a 50 day moving average of $186.20 and a 200-day moving average of $164.80. The company has a market cap of $60.57 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 0.59 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, beating the consensus estimate of $5.05 by $0.15. The firm 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%. The business’s revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.85 earnings per share. On average, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on RCL shares. Susquehanna raised their target price on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Thursday. Bank of America increased their price objective on shares of Royal Caribbean Cruises from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Truist Financial upped their price target on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus target price of $218.00.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the transaction, the director now owns 25,837 shares in the company, valued at approximately $4,095,164.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Richard D. Fain sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 204,521 shares in the company, valued at $42,953,500.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $158.50, for a total value of $919,300.00. Following the transaction, the director now owns 25,837 shares of the company’s stock, valued at $4,095,164.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,596 shares of company stock valued at $8,090,059 in the last three months. Corporate insiders own 7.95% of the company’s stock.

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.