Roanoke Asset Management Corp NY Trims Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Roanoke Asset Management Corp NY cut its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 0.4% during the third quarter, Holdings Channel reports. The institutional investor owned 33,327 shares of the company’s stock after selling 140 shares during the quarter. Royal Caribbean Cruises makes up approximately 1.9% of Roanoke Asset Management Corp NY’s investment portfolio, making the stock its 17th biggest position. Roanoke Asset Management Corp NY’s holdings in Royal Caribbean Cruises were worth $5,911,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Unique Wealth Strategies LLC purchased a new stake in shares of Royal Caribbean Cruises in the 2nd quarter worth about $27,000. Versant Capital Management Inc grew its position 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 worth $30,000 after buying an additional 172 shares during the period. DiNuzzo Private Wealth Inc. grew its position in shares of Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after buying an additional 121 shares during the period. AlphaMark Advisors LLC grew its position in shares of Royal Caribbean Cruises by 233.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock worth $32,000 after buying an additional 140 shares during the period. Finally, Meeder Asset Management Inc. grew its position in shares of Royal Caribbean Cruises by 50.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $37,000 after buying an additional 78 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RCL shares. UBS Group upped their target price on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group increased their price objective on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup increased their price objective on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com downgraded shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Morgan Stanley increased their price objective on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average price target of $214.00.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $202.06 on Friday. The firm’s 50 day moving average price is $181.04 and its 200-day moving average price is $161.52. Royal Caribbean Cruises Ltd. has a twelve month low of $86.75 and a twelve month high of $214.12. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The stock has a market capitalization of $54.33 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 0.61 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the business earned $3.85 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis. Equities research analysts expect that Royal Caribbean Cruises Ltd. will post 11.6 EPS for the current year.

Insider Transactions at Royal Caribbean Cruises

In other news, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total value of $1,401,812.73. Following the transaction, the chief accounting officer now owns 9,964 shares in the company, valued at $2,077,593.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the firm’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 sale, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Henry L. Pujol sold 6,723 shares of the firm’s 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 approximately $2,077,593.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,596 shares of company stock worth $8,090,059 in the last quarter. Company insiders own 7.95% of the company’s stock.

About Royal Caribbean Cruises

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.