CreativeOne Wealth LLC Acquires 6,415 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

CreativeOne Wealth LLC increased its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 459.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,812 shares of the company’s stock after buying an additional 6,415 shares during the period. CreativeOne Wealth LLC’s holdings in Royal Caribbean Cruises were worth $1,386,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Forest Avenue Capital Management LP lifted its position in shares of Royal Caribbean Cruises by 2.8% during the third quarter. Forest Avenue Capital Management LP now owns 225,911 shares of the company’s stock worth $40,068,000 after purchasing an additional 6,140 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Royal Caribbean Cruises during the 3rd quarter worth $14,544,000. Blueshift Asset Management LLC bought a new position in Royal Caribbean Cruises in the 3rd quarter valued at $482,000. Glenmede Trust Co. NA increased its stake in shares of Royal Caribbean Cruises by 1.8% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,080 shares of the company’s stock valued at $1,078,000 after buying an additional 110 shares during the period. Finally, Bridgewater Associates LP bought a new stake in shares of Royal Caribbean Cruises during the third quarter worth $4,779,000. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Down 1.2 %

NYSE:RCL opened at $241.62 on Friday. The firm has a market capitalization of $64.97 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 0.64 and a beta of 2.59. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises Ltd. has a twelve month low of $105.36 and a twelve month high of $245.91. The stock’s 50 day moving average price is $206.82 and its two-hundred day moving average price is $174.08.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The business had revenue of $4.89 billion for 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 for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.85 earnings per share. Equities research analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RCL shares. Barclays raised their price target on Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group lifted their price target on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. 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 report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Finally, Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a research note on Tuesday. They issued an “outperform” rating and a $290.00 price target on the stock. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $224.38.

Insider Activity

In other news, CAO Henry L. Pujol sold 6,723 shares of Royal Caribbean Cruises 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 completion of the transaction, the chief accounting officer now directly owns 9,964 shares in the company, valued at approximately $2,077,593.64. The trade was a 40.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard D. Fain sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the transaction, the director now directly owns 204,521 shares in the company, valued at $42,953,500.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 404,332 shares of company stock valued at $94,299,521. 7.95% of the stock is owned by company 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.