III Capital Management Trims Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

III Capital Management lowered its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 100.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,000 shares of the company’s stock after selling 61,151,000 shares during the period. III Capital Management’s holdings in Royal Caribbean Cruises were worth $709,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RCL. Wedge Capital Management L L P NC increased its position in shares of Royal Caribbean Cruises by 2.6% during the third quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock worth $51,349,000 after acquiring an additional 7,298 shares during the period. QRG Capital Management Inc. grew its position in shares of Royal Caribbean Cruises by 17.2% during the second quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock worth $6,156,000 after buying an additional 5,655 shares in the last quarter. Souders Financial Advisors purchased a new stake in shares of Royal Caribbean Cruises during the third quarter worth approximately $800,000. Swiss National Bank raised 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 acquiring an additional 3,800 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Royal Caribbean Cruises in the 2nd quarter valued at approximately $611,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL traded up $2.20 during midday trading on Tuesday, reaching $248.61. 153,613 shares of the company were exchanged, compared to its average volume of 2,332,358. The stock has a fifty day simple moving average of $208.22 and a 200 day simple moving average of $175.28. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The stock has a market cap of $66.85 billion, a P/E ratio of 25.32, a PEG ratio of 0.64 and a beta of 2.60. Royal Caribbean Cruises Ltd. has a 1 year low of $110.66 and a 1 year high of $249.52.

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

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 6,723 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the sale, the chief accounting officer now owns 9,964 shares of the company’s stock, valued at approximately $2,077,593.64. The trade was a 40.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard D. Fain sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the transaction, the director now directly owns 204,521 shares of the company’s stock, valued at approximately $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 three months, insiders have sold 404,332 shares of company stock valued at $94,299,521. 7.95% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RCL. JPMorgan Chase & Co. lifted 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 report on Tuesday, October 29th. Barclays upped their price objective on Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein began coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 target price on the stock. The Goldman Sachs Group increased their price target 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, StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.63.

Royal Caribbean Cruises Company 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.