Highland Capital Management LLC Sells 1,494 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Highland Capital Management LLC decreased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 36,781 shares of the company’s stock after selling 1,494 shares during the period. Highland Capital Management LLC’s holdings in Royal Caribbean Cruises were worth $4,763,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in shares of Royal Caribbean Cruises by 120.9% during the fourth quarter. Nordea Investment Management AB now owns 194,018 shares of the company’s stock valued at $25,149,000 after buying an additional 106,203 shares during the period. Bank of New York Mellon Corp lifted its position in Royal Caribbean Cruises by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 1,533,566 shares of the company’s stock valued at $141,303,000 after buying an additional 10,095 shares during the period. Redhawk Wealth Advisors Inc. bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $1,120,000. Wedmont Private Capital grew its position in shares of Royal Caribbean Cruises by 6.2% in the 4th quarter. Wedmont Private Capital now owns 5,846 shares of the company’s stock worth $726,000 after buying an additional 341 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Royal Caribbean Cruises by 52.7% in the 3rd quarter. National Bank of Canada FI now owns 169,500 shares of the company’s stock worth $15,535,000 after acquiring an additional 58,481 shares in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RCL shares. UBS Group upped their price objective on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Stifel Nicolaus raised their price objective on Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Morgan Stanley increased their target price on Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Argus lifted their price target on Royal Caribbean Cruises from $95.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Finally, Barclays increased their price objective on shares of Royal Caribbean Cruises from $141.00 to $143.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.56.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the sale, the chief executive officer now directly owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.70% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Stock Performance

NYSE RCL traded up $0.86 on Wednesday, hitting $137.73. 633,594 shares of the company traded hands, compared to its average volume of 2,653,390. The business’s 50 day moving average price is $124.46 and its 200-day moving average price is $110.90. Royal Caribbean Cruises Ltd. has a 52-week low of $59.37 and a 52-week high of $138.84. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 4.03. The company has a market capitalization of $35.35 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 0.49 and a beta of 2.51.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.12. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.36 billion. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The firm’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.12) EPS. Equities analysts expect that Royal Caribbean Cruises Ltd. will post 10.08 earnings per share for the current 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.