SteelPeak Wealth LLC Trims Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

SteelPeak Wealth LLC cut its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 76.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,203 shares of the company's stock after selling 3,990 shares during the period. SteelPeak Wealth LLC's holdings in Royal Caribbean Cruises were worth $214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RCL. Unique Wealth Strategies LLC bought a new position in shares of Royal Caribbean Cruises in the second quarter worth about $27,000. Versant Capital Management Inc raised its position in shares of Royal Caribbean Cruises by 905.3% during the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company's stock valued at $30,000 after purchasing an additional 172 shares during the period. DiNuzzo Private Wealth Inc. raised its position 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 valued at $30,000 after purchasing an additional 121 shares during the period. AlphaMark Advisors LLC boosted its holdings 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 during the period. Finally, Meeder Asset Management Inc. increased its stake 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 buying an additional 78 shares in the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RCL. StockNews.com downgraded Royal Caribbean Cruises from a "hold" rating to a "sell" rating in a research note on Wednesday. Susquehanna raised their price objective on Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a "positive" rating in a research report on Tuesday, July 30th. Stifel Nicolaus boosted their target price on Royal Caribbean Cruises from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, October 11th. Morgan Stanley raised their price target on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an "equal weight" rating in a report on Wednesday, August 7th. Finally, Barclays upped their price objective on Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an "overweight" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $214.00.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction 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 directly owns 25,837 shares in the company, valued at approximately $4,095,164.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Vagn O. Sorensen sold 5,800 shares of the company's stock in a transaction 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 directly owns 25,837 shares in the company, valued at $4,095,164.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,596 shares of company stock worth $8,090,059. 7.95% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Stock Down 2.1 %

NYSE:RCL traded down $4.29 during midday trading on Friday, reaching $202.06. 1,692,427 shares of the stock traded hands, compared to its average volume of 1,891,982. The business has a 50-day moving average of $181.04 and a two-hundred day moving average of $161.77. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.17 and a current ratio of 0.19. Royal Caribbean Cruises Ltd. has a 12-month low of $86.75 and a 12-month high of $214.12. The stock has a market capitalization of $54.33 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 0.54 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping 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 firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the business earned $3.85 EPS. The firm's revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 11.66 earnings per share for the current fiscal year.

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.