Encompass More Asset Management Makes New $1.44 Million Investment in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Encompass More Asset Management bought a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 8,123 shares of the company’s stock, valued at approximately $1,441,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RCL. Dimensional Fund Advisors LP increased its position in Royal Caribbean Cruises by 24.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after buying an additional 400,565 shares during the last quarter. D1 Capital Partners L.P. raised its position in Royal Caribbean Cruises by 3.8% during the third quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company’s stock valued at $278,502,000 after purchasing an additional 58,159 shares in the last quarter. Swiss National Bank increased its holdings in Royal Caribbean Cruises by 0.5% in the third quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after purchasing an additional 3,800 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Royal Caribbean Cruises by 0.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 570,587 shares of the company’s stock valued at $90,969,000 after acquiring an additional 1,865 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its position in Royal Caribbean Cruises by 4.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 498,118 shares of the company’s stock valued at $79,415,000 after acquiring an additional 21,326 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL opened at $244.06 on Friday. Royal Caribbean Cruises Ltd. has a 52 week low of $106.12 and a 52 week high of $245.91. The stock has a market capitalization of $65.62 billion, a P/E ratio of 25.08, a PEG ratio of 0.64 and a beta of 2.59. The firm has a fifty day simple moving average of $208.22 and a two-hundred day simple moving average of $174.80. 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 (NYSE:RCL) last released its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 EPS 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 during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the company earned $3.85 EPS. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.

Insider Activity

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 6,723 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the completion of the transaction, the chief accounting officer now directly owns 9,964 shares in the company, valued at approximately $2,077,593.64. This represents a 40.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 25,000 shares of the stock in a transaction dated 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 sale, the director now owns 204,521 shares of the company’s stock, valued at $42,953,500.42. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 404,332 shares of company stock worth $94,299,521. 7.95% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RCL has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Royal Caribbean Cruises from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Sanford C. Bernstein started coverage on shares of Royal Caribbean Cruises in a research note on Tuesday. They issued an “outperform” rating and a $290.00 price objective for the company. 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 note on Wednesday, October 30th. Barclays raised their price objective on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley raised their price objective on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.38.

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.