Okabena Investment Services Inc. Takes $602,000 Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Okabena Investment Services Inc. acquired a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,392 shares of the company’s stock, valued at approximately $602,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. D1 Capital Partners L.P. raised its position in shares of Royal Caribbean Cruises by 105.7% in the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock valued at $241,075,000 after purchasing an additional 777,103 shares during the period. International Assets Investment Management LLC raised its holdings in Royal Caribbean Cruises by 10,599.0% in the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock worth $72,696,000 after acquiring an additional 406,048 shares during the period. Dimensional Fund Advisors LP lifted its position in Royal Caribbean Cruises by 24.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after acquiring an additional 400,565 shares during the last quarter. Forest Avenue Capital Management LP bought a new stake in Royal Caribbean Cruises during the second quarter valued at about $35,038,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of Royal Caribbean Cruises by 809.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company’s stock valued at $27,601,000 after purchasing an additional 154,090 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the company’s stock in a transaction dated 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 approximately $4,321,868,240.23. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 407,405 shares of company stock worth $94,817,966 over the last ninety days. Corporate insiders own 7.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RCL shares. JPMorgan Chase & Co. boosted their price objective on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Macquarie upped their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Bank of America raised their price objective on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group upped 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. Finally, Wells Fargo & Company raised their price target on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $220.00.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock opened at $241.49 on Friday. The business has a 50 day simple moving average of $201.02 and a 200 day simple moving average of $171.49. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The company has a market capitalization of $64.93 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 0.63 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a one year low of $103.61 and a one year high of $242.20.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the business earned $3.85 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. On average, sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 11.64 EPS 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.