Assetmark Inc. Sells 5,871 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Assetmark Inc. cut its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 5.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,649 shares of the company's stock after selling 5,871 shares during the quarter. Assetmark Inc.'s holdings in Royal Caribbean Cruises were worth $19,802,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RCL. Unique Wealth Strategies LLC purchased a new stake in Royal Caribbean Cruises in the 2nd quarter worth about $27,000. Versant Capital Management Inc boosted its holdings in shares of Royal Caribbean Cruises by 905.3% during the second quarter. Versant Capital Management Inc now owns 191 shares of the company's stock worth $30,000 after purchasing an additional 172 shares during the period. DiNuzzo Private Wealth Inc. increased its stake in Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company's stock valued at $30,000 after buying an additional 121 shares during the period. AlphaMark Advisors LLC lifted its position in Royal Caribbean Cruises by 233.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company's stock worth $32,000 after buying an additional 140 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of Royal Caribbean Cruises by 50.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company's stock valued at $37,000 after buying an additional 78 shares during the period. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Henry L. Pujol sold 6,723 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 9,964 shares of the company's stock, valued at approximately $2,077,593.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Vagn O. Sorensen sold 5,800 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the completion of the sale, the director now owns 25,837 shares of the company's stock, valued at approximately $4,095,164.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Henry L. Pujol sold 6,723 shares of the business's 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 completion of the transaction, the chief accounting officer now directly owns 9,964 shares in the company, valued at $2,077,593.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,596 shares of company stock valued at $8,090,059 over the last quarter. Corporate insiders own 7.95% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Morgan Stanley boosted their price target on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 7th. Bank of America raised their price objective on shares of Royal Caribbean Cruises from $205.00 to $210.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Mizuho increased their price target on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Finally, Susquehanna lifted their price objective on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a "positive" rating in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $218.00.

Royal Caribbean Cruises Stock Performance

Royal Caribbean Cruises stock traded up $4.75 during mid-day trading on Friday, reaching $225.27. The company had a trading volume of 1,786,765 shares, compared to its average volume of 1,965,426. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The firm has a market cap of $60.57 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 0.59 and a beta of 2.59. The company has a 50 day moving average of $186.20 and a 200-day moving average of $164.80. Royal Caribbean Cruises Ltd. has a 52 week low of $92.15 and a 52 week high of $228.08.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating the consensus estimate of $5.05 by $0.15. The firm had revenue of $4.89 billion during the quarter, compared to analysts' expectations of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The company's revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.85 EPS. On average, sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

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.