1248 Management LLC Has $31,000 Position in Royal Caribbean Cruises Ltd. $RCL

Key Points

• 1248 Management LLC significantly reduced its stake in Royal Caribbean Cruises Ltd. by 97.6%, now holding only 137 shares valued at $31,000.
• Royal Caribbean reported $4.38 earnings per share for the latest quarter, exceeding estimates and reflecting a 10.4% increase in revenue year-over-year.
• Several institutional investors are actively adjusting their positions in Royal Caribbean, with 87.53% of shares now owned by institutional investors and hedge funds.

1248 Management LLC decreased its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 97.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 137 shares of the company's stock after selling 5,622 shares during the quarter. 1248 Management LLC's holdings in Royal Caribbean Cruises were worth $31,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at about $358,614,000. GAMMA Investing LLC grew its position in shares of Royal Caribbean Cruises by 22,154.9% in the 1st quarter. GAMMA Investing LLC now owns 1,410,962 shares of the company's stock valued at $289,868,000 after acquiring an additional 1,404,622 shares during the period. Janus Henderson Group PLC grew its position in shares of Royal Caribbean Cruises by 3,544.4% in the 4th quarter. Janus Henderson Group PLC now owns 963,034 shares of the company's stock valued at $222,166,000 after acquiring an additional 936,609 shares during the period. Vanguard Group Inc. grew its position in shares of Royal Caribbean Cruises by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 28,674,763 shares of the company's stock valued at $5,890,943,000 after acquiring an additional 602,447 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Royal Caribbean Cruises by 21.8% in the 1st quarter. Bank of New York Mellon Corp now owns 2,991,079 shares of the company's stock valued at $614,487,000 after acquiring an additional 535,043 shares during the period. Institutional investors and hedge funds own 87.53% of the company's stock.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 16,000 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $311.02, for a total value of $4,976,320.00. Following the completion of the sale, the director owned 150,291 shares in the company, valued at $46,743,506.82. The trade was a 9.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vagn O. Sorensen sold 10,300 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $330.04, for a total transaction of $3,399,412.00. Following the completion of the sale, the director owned 16,407 shares of the company's stock, valued at $5,414,966.28. This trade represents a 38.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,507 shares of company stock worth $10,091,282 in the last quarter. 6.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Stock Performance

RCL traded down $7.62 during trading on Friday, hitting $352.44. The stock had a trading volume of 1,455,537 shares, compared to its average volume of 1,835,217. The company has a 50 day moving average price of $334.99 and a 200-day moving average price of $267.42. The firm has a market cap of $95.73 billion, a price-to-earnings ratio of 26.42, a P/E/G ratio of 1.01 and a beta of 2.12. Royal Caribbean Cruises Ltd. has a one year low of $154.08 and a one year high of $366.50. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.23 and a quick ratio of 0.21.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.34. The business had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.54 billion. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%.The firm's quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.21 EPS. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. As a group, research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on RCL. UBS Group lifted their price objective on shares of Royal Caribbean Cruises from $311.00 to $353.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Bank of America lifted their price objective on shares of Royal Caribbean Cruises from $230.00 to $355.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Tigress Financial lifted their price objective on shares of Royal Caribbean Cruises from $330.00 to $415.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Jefferies Financial Group lifted their price objective on shares of Royal Caribbean Cruises from $235.00 to $315.00 and gave the company a "hold" rating in a research report on Monday, July 7th. Finally, Barclays raised their target price on shares of Royal Caribbean Cruises from $263.00 to $358.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $327.14.

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.