Freedom Investment Management Inc. Trims Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Freedom Investment Management Inc. cut its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 6.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,513 shares of the company’s stock after selling 227 shares during the quarter. Freedom Investment Management Inc.’s holdings in Royal Caribbean Cruises were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Plato Investment Management Ltd purchased a new stake in Royal Caribbean Cruises in the third quarter valued at approximately $26,000. Unique Wealth Strategies LLC acquired a new stake in shares of Royal Caribbean Cruises in the second quarter valued at $27,000. Versant Capital Management Inc raised its holdings in shares of Royal Caribbean Cruises by 905.3% in the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after buying an additional 172 shares during the period. DiNuzzo Private Wealth Inc. lifted its stake in Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after acquiring an additional 121 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted 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 acquiring an additional 140 shares during the period. 87.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RCL has been the topic of a number of recent research reports. StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company increased their target price on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target 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. Stifel Nicolaus increased their price objective 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. Finally, Tigress Financial boosted their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $224.38.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock opened at $244.06 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises Ltd. has a 52 week low of $106.12 and a 52 week high of $245.91. The firm’s 50 day moving average is $208.22 and its two-hundred day moving average is $174.80. The firm has a market capitalization of $65.62 billion, a P/E ratio of 25.08, a P/E/G ratio of 0.64 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating 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 the consensus estimate of $4.89 billion. During the same period last year, the firm posted $3.85 EPS. The company’s revenue was up 17.5% on a year-over-year basis. Research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the transaction, the director now owns 18,167,507 shares in the company, valued at $4,321,868,240.23. This trade represents a 0.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the transaction, the executive vice president now directly owns 22,348 shares in the company, valued at approximately $5,243,287.76. This trade represents a 12.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 404,332 shares of company stock worth $94,299,521. Corporate insiders own 7.95% of the company’s stock.

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.