Pineridge Advisors LLC Takes Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Pineridge Advisors LLC acquired a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 558 shares of the company’s stock, valued at approximately $72,000.

A number of other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $323,251,000. Eagle Asset Management Inc. acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $79,392,000. Vanguard Group Inc. increased its position in shares of Royal Caribbean Cruises by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock worth $2,295,891,000 after purchasing an additional 487,327 shares in the last quarter. Junto Capital Management LP acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $47,950,000. Finally, Capital International Investors increased its position in shares of Royal Caribbean Cruises by 1.2% during the 4th quarter. Capital International Investors now owns 29,309,587 shares of the company’s stock worth $3,795,368,000 after purchasing an additional 351,747 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Trading Down 4.4 %

Shares of NYSE RCL traded down $6.78 during mid-day trading on Friday, hitting $148.50. The company’s stock had a trading volume of 3,806,958 shares, compared to its average volume of 1,768,405. The company’s fifty day simple moving average is $142.44 and its 200-day simple moving average is $130.71. Royal Caribbean Cruises Ltd. has a one year low of $78.35 and a one year high of $157.58. The stock has a market cap of $38.22 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 0.47 and a beta of 2.56. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.19 and a quick ratio of 0.16.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.44. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the firm earned ($0.23) EPS. Royal Caribbean Cruises’s quarterly revenue was up 29.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RCL has been the subject of a number of recent analyst reports. Mizuho increased their target price on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Bank of America increased their target price on shares of Royal Caribbean Cruises from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Stifel Nicolaus raised their price objective on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Macquarie raised their price objective on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $155.07.

Insider Buying and Selling

In related news, Director Richard D. Fain sold 19,584 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the transaction, the director now owns 179,117 shares of the company’s stock, valued at approximately $27,576,853.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,584 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the sale, the director now directly owns 179,117 shares in the company, valued at approximately $27,576,853.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Henry L. Pujol sold 9,944 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the sale, the chief accounting officer now owns 16,687 shares in the company, valued at $2,356,705.01. The disclosure for this sale can be found here. Insiders have sold 152,884 shares of company stock valued at $22,052,985 in the last 90 days. 7.95% of the stock is owned by insiders.

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.