HighTower Advisors LLC Reduces Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

HighTower Advisors LLC trimmed its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 50.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,668 shares of the company's stock after selling 42,097 shares during the quarter. HighTower Advisors LLC's holdings in Royal Caribbean Cruises were worth $7,212,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RCL. Plato Investment Management Ltd purchased a new stake in Royal Caribbean Cruises during the third quarter worth $26,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company's stock worth $30,000 after acquiring an additional 121 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Royal Caribbean Cruises during the 2nd quarter valued at about $27,000. AlphaMark Advisors LLC grew its position in shares of Royal Caribbean Cruises by 233.3% during the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company's stock valued at $32,000 after acquiring an additional 140 shares during the period. Finally, Meeder Asset Management Inc. raised its holdings in Royal Caribbean Cruises by 50.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company's stock worth $37,000 after purchasing an additional 78 shares during the period. Institutional investors and hedge funds own 87.53% of the company's stock.

Royal Caribbean Cruises Trading Down 0.6 %

Shares of NYSE:RCL traded down $1.54 during mid-day trading on Tuesday, reaching $245.60. 2,301,492 shares of the company were exchanged, compared to its average volume of 2,331,744. The firm has a market cap of $66.04 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 0.68 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises Ltd. has a 1 year low of $113.10 and a 1 year high of $258.70. The firm's 50-day simple moving average is $216.77 and its 200 day simple moving average is $179.65.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share 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 business 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 firm posted $3.85 earnings per share. The company's revenue was up 17.5% on a year-over-year basis. Equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current year.

Insider Activity

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the transaction, the executive vice president now directly owns 22,348 shares of the company's stock, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Henry L. Pujol sold 6,723 shares of the firm's stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 9,964 shares in the company, valued at approximately $2,077,593.64. This trade represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 404,332 shares of company stock valued at $94,299,521. 7.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. Truist Financial boosted their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. Bank of America increased their price objective on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a "neutral" rating in a report on Wednesday, November 13th. The Goldman Sachs Group boosted their target price on shares of Royal Caribbean Cruises from $245.00 to $275.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, StockNews.com raised shares of Royal Caribbean Cruises from a "sell" rating to a "hold" rating in a research note on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $235.50.

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.