Victory Capital Management Inc. Cuts Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Victory Capital Management Inc. cut its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 12.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,384 shares of the company’s stock after selling 11,147 shares during the quarter. Victory Capital Management Inc.’s holdings in Royal Caribbean Cruises were worth $14,434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FSM Wealth Advisors LLC lifted its position in shares of Royal Caribbean Cruises by 3.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock worth $290,000 after purchasing an additional 51 shares during the period. Venturi Wealth Management LLC lifted its holdings in Royal Caribbean Cruises by 20.9% during the third quarter. Venturi Wealth Management LLC now owns 353 shares of the company’s stock worth $63,000 after buying an additional 61 shares during the period. Venture Visionary Partners LLC boosted its position in Royal Caribbean Cruises by 4.8% during the 3rd quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company’s stock valued at $242,000 after acquiring an additional 62 shares in the last quarter. Ignite Planners LLC increased its holdings in shares of Royal Caribbean Cruises by 4.3% in the 3rd quarter. Ignite Planners LLC now owns 1,856 shares of the company’s stock valued at $329,000 after acquiring an additional 77 shares during the period. Finally, Meeder Asset Management Inc. raised its position in shares of Royal Caribbean Cruises by 50.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $37,000 after acquiring an additional 78 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RCL shares. Stifel Nicolaus lifted their target price on Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. boosted their price objective on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group raised their target price on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Tigress Financial upped their price target on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Macquarie increased their price objective on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $220.00.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 25,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the completion of the transaction, the director now directly owns 204,521 shares of the company’s stock, valued at $42,953,500.42. The trade was a 10.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura H. Bethge sold 3,073 shares of the 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 sale, the insider now directly owns 27,388 shares in the company, valued at $4,620,629.48. This trade represents a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,796 shares of company stock worth $7,170,759 over the last quarter. 7.95% of the stock is currently owned by insiders.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL opened at $234.67 on Wednesday. Royal Caribbean Cruises Ltd. has a 52 week low of $102.77 and a 52 week high of $238.10. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The firm has a market cap of $63.10 billion, a P/E ratio of 24.12, a P/E/G ratio of 0.61 and a beta of 2.59. The business’s 50 day moving average price is $196.62 and its 200 day moving average price is $169.67.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data 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. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the business earned $3.85 earnings per share. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current year.

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.