First Horizon Advisors Inc. Cuts Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

First Horizon Advisors Inc. trimmed its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 32.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 369 shares of the company’s stock after selling 175 shares during the quarter. First Horizon Advisors Inc.’s holdings in Royal Caribbean Cruises were worth $65,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RCL. Plato Investment Management Ltd purchased a new position in shares of Royal Caribbean Cruises in the third quarter worth $26,000. Unique Wealth Strategies LLC bought a new position in shares of Royal Caribbean Cruises during the second quarter valued at about $27,000. Versant Capital Management Inc boosted its holdings in shares of Royal Caribbean Cruises by 905.3% during the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after purchasing an additional 172 shares during the period. DiNuzzo Private Wealth Inc. grew its stake in shares of Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after purchasing an additional 121 shares during the last quarter. Finally, AlphaMark Advisors LLC increased its holdings in Royal Caribbean Cruises by 233.3% during the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares during the period. Institutional investors own 87.53% of the company’s stock.

Insider Activity

In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 3,256 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the sale, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. The trade was a 12.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. This trade represents a 10.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 407,405 shares of company stock valued at $94,817,966 over the last three months. Insiders own 7.95% of the company’s stock.

Wall Street Analyst Weigh In

RCL has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citigroup upped their target price on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. StockNews.com cut shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research report on Monday, November 18th. Macquarie upped their price objective on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Bank of America lifted their target price on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $220.00.

Royal Caribbean Cruises Stock Up 1.7 %

RCL stock opened at $241.49 on Monday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises Ltd. has a 1-year low of $103.61 and a 1-year high of $242.20. The stock has a market capitalization of $64.93 billion, a P/E ratio of 24.82, a P/E/G ratio of 0.63 and a beta of 2.59. The business has a fifty day moving average price of $201.02 and a 200-day moving average price of $171.70.

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 during the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. Royal Caribbean Cruises’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.85 EPS. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current fiscal year.

About Royal Caribbean Cruises

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.