Forest Avenue Capital Management LP Grows Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Forest Avenue Capital Management LP increased its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 225,911 shares of the company’s stock after buying an additional 6,140 shares during the quarter. Royal Caribbean Cruises comprises approximately 4.9% of Forest Avenue Capital Management LP’s holdings, making the stock its 9th largest holding. Forest Avenue Capital Management LP owned approximately 0.08% of Royal Caribbean Cruises worth $40,068,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Plato Investment Management Ltd bought a new stake in shares of Royal Caribbean Cruises in the 3rd quarter worth about $26,000. DiNuzzo Private Wealth Inc. raised its position in 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 purchasing an additional 121 shares during the period. Unique Wealth Strategies LLC bought a new stake in Royal Caribbean Cruises in the second quarter worth about $27,000. Versant Capital Management Inc boosted its position in shares of Royal Caribbean Cruises by 905.3% during the second 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 period. Finally, AlphaMark Advisors LLC grew its stake 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 valued at $32,000 after buying an additional 140 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RCL shares. Sanford C. Bernstein assumed coverage on Royal Caribbean Cruises in a report on Tuesday. They set an “outperform” rating and a $290.00 price objective for the company. Wells Fargo & Company lifted their target price 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. Stifel Nicolaus upped their price target on shares of Royal Caribbean Cruises from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, October 11th. The Goldman Sachs Group boosted 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, October 30th. Finally, Macquarie raised their target price on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $224.38.

Insider Activity at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the transaction, the director now directly owns 18,167,507 shares in the company, valued at $4,321,868,240.23. The trade was a 0.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the sale, the executive vice president now owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 407,405 shares of company stock valued at $94,817,966 over the last 90 days. Insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Trading Up 1.7 %

RCL opened at $244.50 on Wednesday. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The firm has a market cap of $65.74 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 0.63 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a 12 month low of $103.99 and a 12 month high of $245.91. The stock has a fifty day moving average price of $203.96 and a 200-day moving average price of $173.13.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The business 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 firm’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.85 earnings per share. As a group, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current fiscal year.

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.