Eastern Bank Acquires New Shares in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Eastern Bank bought a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,082 shares of the company’s stock, valued at approximately $192,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Signaturefd LLC increased its position in shares of Royal Caribbean Cruises by 3.3% during the 3rd quarter. Signaturefd LLC now owns 6,209 shares of the company’s stock worth $1,101,000 after purchasing an additional 200 shares during the last quarter. Argus Investors Counsel Inc. acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter worth approximately $239,000. U S Global Investors Inc. boosted its position in shares of Royal Caribbean Cruises by 206.7% during the 3rd quarter. U S Global Investors Inc. now owns 9,200 shares of the company’s stock worth $1,632,000 after purchasing an additional 6,200 shares during the period. Foundations Investment Advisors LLC increased its holdings in Royal Caribbean Cruises by 5.3% in the 3rd quarter. Foundations Investment Advisors LLC now owns 2,487 shares of the company’s stock valued at $441,000 after purchasing an additional 126 shares during the last quarter. Finally, Venture Visionary Partners LLC lifted its stake in Royal Caribbean Cruises by 4.8% during the third quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company’s stock worth $242,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock opened at $203.05 on Friday. The stock’s 50-day moving average price is $174.69 and its 200 day moving average price is $158.15. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20. The stock has a market capitalization of $52.25 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 0.58 and a beta of 2.61. Royal Caribbean Cruises Ltd. has a 52-week low of $78.35 and a 52-week high of $204.37.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.21 EPS for the quarter, topping the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the prior year, the business earned $1.82 earnings per share. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.61 EPS for the current year.

Wall Street Analyst Weigh In

RCL has been the subject of a number of research reports. Truist Financial lifted their price objective on Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Citigroup increased their price target on shares of Royal Caribbean Cruises from $204.00 to $253.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group upped their target price on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley upped their price target on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group lifted their price objective on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.27.

Insiders Place Their Bets

In other news, CFO Naftali Holtz bought 5,350 shares of the stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $140.00 per share, with a total value of $749,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 48,256 shares in the company, valued at approximately $6,755,840. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Royal Caribbean Cruises news, CFO Naftali Holtz acquired 5,350 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the completion of the transaction, the chief financial officer now owns 48,256 shares of the company’s stock, valued at $6,755,840. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the transaction, the insider now directly owns 27,388 shares in the company, valued at approximately $4,620,629.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.95% of the stock is owned by 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.