Teacher Retirement System of Texas reduced its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL – GetRating) by 47.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,643 shares of the company’s stock after selling 29,575 shares during the quarter. Teacher Retirement System of Texas’ holdings in Royal Caribbean Cruises were worth $1,237,000 at the end of the most recent quarter.
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Several other large investors have also recently added to or reduced their stakes in the business. Stone Point Wealth LLC increased its position in Royal Caribbean Cruises by 17.8% in the 3rd quarter. Stone Point Wealth LLC now owns 18,321 shares of the company’s stock valued at $695,000 after acquiring an additional 2,768 shares during the period. The Manufacturers Life Insurance Company increased its position in Royal Caribbean Cruises by 5.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 162,919 shares of the company’s stock valued at $6,175,000 after acquiring an additional 8,792 shares during the period. Daiwa Securities Group Inc. boosted its stake in Royal Caribbean Cruises by 1.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 15,070 shares of the company’s stock valued at $571,000 after purchasing an additional 267 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Royal Caribbean Cruises by 1.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 27,231 shares of the company’s stock valued at $1,182,000 after purchasing an additional 509 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in Royal Caribbean Cruises by 14.2% during the 3rd quarter. Avantax Advisory Services Inc. now owns 12,555 shares of the company’s stock valued at $476,000 after purchasing an additional 1,558 shares in the last quarter. 74.27% of the stock is currently owned by institutional investors and hedge funds.
Royal Caribbean Cruises Stock Performance
Shares of Royal Caribbean Cruises stock opened at $63.01 on Tuesday. The stock has a market cap of $16.08 billion, a PE ratio of -5.33 and a beta of 2.42. The business has a fifty-day simple moving average of $57.02 and a 200-day simple moving average of $49.05. The company has a quick ratio of 0.27, a current ratio of 0.29 and a debt-to-equity ratio of 6.05. Royal Caribbean Cruises Ltd. has a 12 month low of $31.09 and a 12 month high of $90.55.
Royal Caribbean Cruises (NYSE:RCL – GetRating) last issued its earnings results on Thursday, November 3rd. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.23 by $0.03. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3 billion. Royal Caribbean Cruises had a negative return on equity of 72.62% and a negative net margin of 41.73%. On average, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post -7.77 EPS for the current fiscal year.
Insider Transactions at Royal Caribbean Cruises
In related news, Director Arne Alexander Wilhelmsen sold 522,289 shares of the stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $61.23, for a total transaction of $31,979,755.47. Following the completion of the sale, the director now directly owns 21,962,609 shares in the company, valued at $1,344,770,549.07. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 1,007,968 shares of company stock valued at $60,959,468 over the last quarter. Company insiders own 9.28% of the company’s stock.
Analyst’s Set New Price Targets
A number of equities analysts have issued reports on the company. Barclays increased their price target on Royal Caribbean Cruises from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, January 19th. Morgan Stanley raised Royal Caribbean Cruises from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $40.00 to $50.00 in a research note on Tuesday, January 10th. JPMorgan Chase & Co. lowered Royal Caribbean Cruises from an “overweight” rating to an “underweight” rating and decreased their price target for the company from $106.00 to $47.00 in a research note on Tuesday, December 6th. Tigress Financial reaffirmed a “buy” rating and set a $80.00 price target on shares of Royal Caribbean Cruises in a research note on Friday, October 21st. Finally, UBS Group raised their price objective on Royal Caribbean Cruises from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, January 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.46.
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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