Kovitz Investment Group Partners LLC Takes Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Kovitz Investment Group Partners LLC bought a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,412 shares of the company's stock, valued at approximately $2,379,000.

Other hedge funds have also modified their holdings of the company. Watchtower Advisors LP acquired a new position in Royal Caribbean Cruises during the third quarter valued at approximately $9,793,000. Weiss Asset Management LP acquired a new position in Royal Caribbean Cruises during the third quarter valued at approximately $396,000. Taika Capital LP acquired a new position in Royal Caribbean Cruises during the third quarter valued at approximately $746,000. Safe Harbor Fiduciary LLC acquired a new position in Royal Caribbean Cruises during the third quarter valued at approximately $27,000. Finally, Quantinno Capital Management LP lifted its position in Royal Caribbean Cruises by 59.9% during the third quarter. Quantinno Capital Management LP now owns 33,330 shares of the company's stock valued at $5,911,000 after buying an additional 12,491 shares in the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Performance

RCL stock traded down $1.54 during trading on Tuesday, hitting $245.60. 2,301,492 shares of the company's stock traded hands, compared to its average volume of 2,331,744. 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 $113.10 and a 52 week high of $258.70. The stock has a fifty day moving average price of $216.77 and a two-hundred day moving average price of $179.65. The stock has a market capitalization of $66.04 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 0.68 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the company posted $3.85 earnings per share. The company's revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RCL. Truist Financial lifted their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. The Goldman Sachs Group lifted their price objective on shares of Royal Caribbean Cruises from $245.00 to $275.00 and gave the company a "buy" rating in a research note on Tuesday. Tigress Financial lifted their price objective on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Citigroup lifted their price objective on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus lifted their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a "buy" rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.50.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 6,723 shares of the business's stock in a transaction dated Wednesday, October 30th. The shares were 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 directly owns 9,964 shares in the company, valued at approximately $2,077,593.64. The trade was a 40.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the completion of the sale, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 404,332 shares of company stock valued at $94,299,521 over the last 90 days. 7.95% of the stock is currently owned by company insiders.

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.