Assetmark Inc. lifted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL – GetRating) by 20.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,122 shares of the company’s stock after acquiring an additional 3,525 shares during the quarter. Assetmark Inc.’s holdings in Royal Caribbean Cruises were worth $801,000 at the end of the most recent reporting period.
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Other hedge funds also recently made changes to their positions in the company. Capital World Investors boosted its stake in Royal Caribbean Cruises by 1,314.9% in the 1st quarter. Capital World Investors now owns 2,759,035 shares of the company’s stock worth $231,152,000 after purchasing an additional 2,564,035 shares during the period. Ariel Investments LLC boosted its stake in Royal Caribbean Cruises by 56.0% in the 1st quarter. Ariel Investments LLC now owns 1,022,510 shares of the company’s stock worth $85,666,000 after purchasing an additional 367,253 shares during the period. Vanguard Group Inc. raised its holdings in shares of Royal Caribbean Cruises by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 23,355,449 shares of the company’s stock worth $1,956,721,000 after acquiring an additional 314,385 shares in the last quarter. Castle Hook Partners LP raised its holdings in shares of Royal Caribbean Cruises by 243.0% during the 1st quarter. Castle Hook Partners LP now owns 438,185 shares of the company’s stock worth $36,711,000 after acquiring an additional 310,423 shares in the last quarter. Finally, Centiva Capital LP purchased a new stake in shares of Royal Caribbean Cruises during the 2nd quarter worth approximately $7,325,000. 74.27% of the stock is currently owned by institutional investors.
Insider Activity at Royal Caribbean Cruises
In related news, Director Arne Alexander Wilhelmsen sold 9,762 shares of the firm’s stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $58.00, for a total transaction of $566,196.00. Following the sale, the director now owns 21,157,159 shares of the company’s stock, valued at $1,227,115,222. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 1,007,968 shares of company stock valued at $60,959,468 over the last quarter. 9.28% of the stock is owned by corporate insiders.
Analyst Rating Changes
RCL has been the topic of several recent research reports. StockNews.com raised Royal Caribbean Cruises to a “sell” rating in a report on Thursday, December 15th. UBS Group upped their objective price on Royal Caribbean Cruises from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, January 9th. Credit Suisse Group decreased their price target on Royal Caribbean Cruises from $135.00 to $117.00 and set an “outperform” rating on the stock in a report on Friday, November 4th. Truist Financial increased their price target on Royal Caribbean Cruises from $58.00 to $62.00 and gave the company a “hold” rating in a report on Tuesday, November 22nd. Finally, Wells Fargo & Company increased their price target on Royal Caribbean Cruises from $63.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, November 21st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and an average price target of $69.08.
Royal Caribbean Cruises Price Performance
RCL opened at $62.22 on Thursday. Royal Caribbean Cruises Ltd. has a 12-month low of $31.09 and a 12-month high of $90.55. The company has a current ratio of 0.29, a quick ratio of 0.27 and a debt-to-equity ratio of 6.05. The business’s fifty-day simple moving average is $56.39 and its 200-day simple moving average is $47.53. The company has a market capitalization of $15.88 billion, a price-to-earnings ratio of -5.26 and a beta of 2.42.
Royal Caribbean Cruises (NYSE:RCL – GetRating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Royal Caribbean Cruises had a negative return on equity of 72.62% and a negative net margin of 41.73%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3 billion. On average, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post -7.72 earnings per share for the current fiscal year.
Royal Caribbean Cruises Company Profile
Royal Caribbean Group operates a fleet of cruise ships. It also operates as a global cruise company, which controls and operates the following global cruise brands: Royal Caribbean International, Celebrity Cruises, Silversea Cruises, and Hapag-Lloyd Cruises. The firm also holds interest in TUI Cruises, Pullmantur, and SkySea Cruises brands.
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