Edgestream Partners L.P. Sells 18,437 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Edgestream Partners L.P. reduced its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 55.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,699 shares of the company's stock after selling 18,437 shares during the period. Edgestream Partners L.P.'s holdings in Royal Caribbean Cruises were worth $2,607,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. FSM Wealth Advisors LLC grew its position in Royal Caribbean Cruises by 3.2% in the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company's stock worth $290,000 after acquiring an additional 51 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Royal Caribbean Cruises by 20.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 353 shares of the company's stock valued at $63,000 after purchasing an additional 61 shares during the last quarter. Venture Visionary Partners LLC boosted its holdings in Royal Caribbean Cruises by 4.8% in the third quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company's stock worth $242,000 after purchasing an additional 62 shares in the last quarter. Empower Advisory Group LLC increased its position in Royal Caribbean Cruises by 3.7% during the third quarter. Empower Advisory Group LLC now owns 1,755 shares of the company's stock worth $311,000 after buying an additional 63 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. raised its holdings in Royal Caribbean Cruises by 3.3% during the third quarter. Ipswich Investment Management Co. Inc. now owns 2,201 shares of the company's stock valued at $390,000 after buying an additional 70 shares in the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Royal Caribbean Cruises

In related 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 transaction, the chief accounting officer now owns 9,964 shares of the company's stock, valued at $2,077,593.64. This trade represents a 40.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the transaction, the director now owns 18,167,507 shares of the company's stock, valued at approximately $4,321,868,240.23. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 404,332 shares of company stock valued at $94,299,521. 7.95% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RCL. Macquarie boosted their price objective on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Tigress Financial boosted their target price on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. 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 research report on Wednesday, August 7th. Barclays lifted their price objective on Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Finally, Truist Financial increased their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a "buy" rating in a research note on Monday. Three equities 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, Royal Caribbean Cruises has a consensus rating of "Moderate Buy" and an average price target of $228.63.

Royal Caribbean Cruises Price Performance

RCL stock traded down $0.52 during midday trading on Tuesday, reaching $245.89. 1,226,219 shares of the company's stock traded hands, compared to its average volume of 2,337,203. 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 company has a market cap of $66.11 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 0.65 and a beta of 2.59. The company has a 50-day simple moving average of $210.95 and a two-hundred day simple moving average of $176.74. 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 - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping analysts' consensus estimates 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 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. On average, analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current 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.