Watchtower Advisors LP Purchases Shares of 55,215 Royal Caribbean Cruises Ltd. (NYSE:RCL)

Watchtower Advisors LP bought a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 55,215 shares of the company's stock, valued at approximately $9,793,000. Royal Caribbean Cruises makes up approximately 4.5% of Watchtower Advisors LP's investment portfolio, making the stock its 11th biggest position.

Other hedge funds have also modified their holdings of the company. D1 Capital Partners L.P. increased its holdings in shares of Royal Caribbean Cruises by 105.7% during the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company's stock valued at $241,075,000 after acquiring an additional 777,103 shares in the last quarter. International Assets Investment Management LLC increased its stake in Royal Caribbean Cruises by 10,599.0% during the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company's stock valued at $72,696,000 after purchasing an additional 406,048 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Royal Caribbean Cruises by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company's stock worth $326,616,000 after buying an additional 400,565 shares during the last quarter. Forest Avenue Capital Management LP acquired a new stake in shares of Royal Caribbean Cruises during the second quarter worth $35,038,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Royal Caribbean Cruises by 809.6% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company's stock worth $27,601,000 after buying an additional 154,090 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 25,000 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the transaction, the director now owns 204,521 shares of the company's stock, valued at $42,953,500.42. This represents a 10.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were 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 in the company, valued at $5,243,287.76. The trade was a 12.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 404,332 shares of company stock valued at $94,299,521. Corporate insiders own 7.95% of the company's stock.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock traded up $6.95 during midday trading on Friday, reaching $258.09. The company had a trading volume of 1,878,265 shares, compared to its average volume of 2,328,479. Royal Caribbean Cruises Ltd. has a 12-month low of $113.10 and a 12-month high of $258.21. The firm's fifty day simple moving average is $213.77 and its 200-day simple moving average is $177.76. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The company has a market capitalization of $69.39 billion, a P/E ratio of 26.24, a P/E/G ratio of 0.65 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the company earned $3.85 EPS. The firm's revenue was up 17.5% compared to the same quarter last year. As a group, equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RCL. The Goldman Sachs Group raised their target price on Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Sanford C. Bernstein started coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They set an "outperform" rating and a $290.00 target price for the company. Macquarie upped their target price on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of Royal Caribbean Cruises from a "sell" rating to a "hold" rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.63.

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.