1832 Asset Management L.P. Has $10.06 Million Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)
1832 Asset Management L.P. increased its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL – Free Report) by 20,805.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,000 shares of the company’s stock after acquiring an additional 96,536 shares during the quarter. 1832 Asset Management L.P.’s holdings in Royal Caribbean Cruises were worth $10,063,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in RCL. Capital World Investors purchased a new position in Royal Caribbean Cruises during the second quarter valued at approximately $272,594,000. Norges Bank purchased a new position in Royal Caribbean Cruises during the fourth quarter valued at approximately $100,326,000. Capital International Investors grew its position in Royal Caribbean Cruises by 3.6% during the second quarter. Capital International Investors now owns 29,671,559 shares of the company’s stock valued at $3,077,810,000 after purchasing an additional 1,040,190 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Royal Caribbean Cruises by 822.3% during the second quarter. Los Angeles Capital Management LLC now owns 621,420 shares of the company’s stock valued at $64,466,000 after purchasing an additional 554,043 shares in the last quarter. Finally, Interval Partners LP purchased a new position in Royal Caribbean Cruises during the first quarter valued at approximately $32,740,000. Institutional investors and hedge funds own 75.64% of the company’s stock.
Insider Activity at Royal Caribbean Cruises
In related news, EVP Harri U. Kulovaara sold 24,707 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $106.90, for a total transaction of $2,641,178.30. Following the completion of the transaction, the executive vice president now directly owns 33,650 shares in the company, valued at approximately $3,597,185. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Harri U. Kulovaara sold 24,707 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $106.90, for a total transaction of $2,641,178.30. Following the completion of the transaction, the executive vice president now directly owns 33,650 shares in the company, valued at approximately $3,597,185. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Laura H. Bethge sold 3,502 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $86.00, for a total transaction of $301,172.00. Following the completion of the transaction, the insider now owns 22,226 shares of the company’s stock, valued at approximately $1,911,436. The disclosure for this sale can be found here. Insiders sold a total of 56,009 shares of company stock worth $5,735,850 in the last ninety days. 8.70% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on RCL. Susquehanna lowered their price objective on shares of Royal Caribbean Cruises from $127.00 to $120.00 and set a “positive” rating on the stock in a research report on Tuesday, October 31st. Citigroup reissued a “buy” rating and issued a $127.00 target price on shares of Royal Caribbean Cruises in a research report on Tuesday, November 21st. Barclays decreased their target price on shares of Royal Caribbean Cruises from $132.00 to $127.00 and set an “overweight” rating for the company in a research report on Monday, October 9th. StockNews.com assumed coverage on shares of Royal Caribbean Cruises in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Truist Financial decreased their target price on shares of Royal Caribbean Cruises from $137.00 to $134.00 and set a “buy” rating for the company in a research report on Tuesday, November 21st. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $111.93.
Read Our Latest Analysis on RCL
Royal Caribbean Cruises Price Performance
NYSE RCL opened at $110.73 on Friday. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.90. The company has a fifty day simple moving average of $93.10 and a 200 day simple moving average of $95.57. The company has a market cap of $28.37 billion, a P/E ratio of 34.60 and a beta of 2.48. Royal Caribbean Cruises Ltd. has a 1 year low of $47.91 and a 1 year high of $112.95.
Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last released its earnings results on Thursday, October 26th. The company reported $3.85 EPS for the quarter, beating the consensus estimate of $3.43 by $0.42. The firm had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Royal Caribbean Cruises had a net margin of 6.98% and a return on equity of 34.59%. The business’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 EPS. On average, sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 6.59 EPS for the current year.
Royal Caribbean Cruises Profile (Free Report)
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 13, 2023, it operated 64 ships. The company was founded in 1968 and is headquartered in Miami, Florida.
See Also
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