Pinnacle Associates Ltd. Raises Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Pinnacle Associates Ltd. lifted its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 353,175 shares of the company’s stock after acquiring an additional 3,235 shares during the quarter. Royal Caribbean Cruises makes up 1.0% of Pinnacle Associates Ltd.’s portfolio, making the stock its 17th biggest position. Pinnacle Associates Ltd.’s holdings in Royal Caribbean Cruises were worth $62,639,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Unique Wealth Strategies LLC bought a new stake in shares of Royal Caribbean Cruises during the 2nd quarter valued at $27,000. Versant Capital Management Inc increased 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 acquiring an additional 172 shares during the period. DiNuzzo Private Wealth Inc. boosted its stake in 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 acquiring an additional 121 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of 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 purchasing an additional 140 shares during the period. Finally, Meeder Asset Management Inc. raised its position in shares of Royal Caribbean Cruises by 50.3% in the second quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $37,000 after acquiring an additional 78 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Naftali Holtz purchased 5,350 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the completion of the acquisition, the chief financial officer now owns 48,256 shares in the company, valued at approximately $6,755,840. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.95% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock traded down $1.38 during mid-day trading on Wednesday, reaching $208.72. The company had a trading volume of 786,372 shares, compared to its average volume of 2,390,096. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. The stock’s 50-day simple moving average is $178.28 and its 200-day simple moving average is $160.35. Royal Caribbean Cruises Ltd. has a 1 year low of $83.25 and a 1 year high of $214.12. The company has a market capitalization of $53.71 billion, a P/E ratio of 22.92, a P/E/G ratio of 0.58 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results 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 business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The business’s revenue was up 17.5% on a year-over-year basis. During the same period last year, the business earned $3.85 EPS. On average, equities analysts predict that Royal Caribbean Cruises Ltd. will post 11.61 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a research report on Tuesday. Stifel Nicolaus increased their price objective on Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Truist Financial boosted their price objective on Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Bank of America increased their target price on shares of Royal Caribbean Cruises from $205.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Citigroup raised their price objective on Royal Caribbean Cruises from $204.00 to $253.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.80.

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.