Atalanta Sosnoff Capital LLC Purchases Shares of 177,797 Royal Caribbean Cruises Ltd. $RCL

Key Points

• Atalanta Sosnoff Capital LLC has invested approximately $36.53 million in Royal Caribbean Cruises Ltd., acquiring 177,797 shares, which represents about 0.07% of the company.
• Royal Caribbean's recent quarterly earnings surpassed analysts' expectations, reporting $4.38 earnings per share and a revenue increase of 10.4% year-over-year.
• The stock has seen a notable rise in target price revisions from various analysts, with Bank of America upgrading its target to $355.00 and maintaining a "neutral" rating.

Atalanta Sosnoff Capital LLC purchased a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 177,797 shares of the company's stock, valued at approximately $36,527,000. Atalanta Sosnoff Capital LLC owned 0.07% of Royal Caribbean Cruises as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. bought a new stake in Royal Caribbean Cruises in the first quarter worth $25,000. Hughes Financial Services LLC bought a new stake in Royal Caribbean Cruises in the first quarter worth $26,000. Optimum Investment Advisors bought a new stake in Royal Caribbean Cruises in the first quarter worth $31,000. Fourth Dimension Wealth LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter worth $35,000. Finally, SouthState Corp bought a new stake in Royal Caribbean Cruises in the first quarter worth $39,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Performance

RCL traded down $7.62 during midday trading on Friday, reaching $352.44. The company had a trading volume of 1,455,537 shares, compared to its average volume of 1,835,217. The company has a quick ratio of 0.21, a current ratio of 0.23 and a debt-to-equity ratio of 1.88. The business has a 50-day moving average of $334.99 and a two-hundred day moving average of $267.44. The company has a market cap of $95.73 billion, a P/E ratio of 26.42, a P/E/G ratio of 0.99 and a beta of 2.12. Royal Caribbean Cruises Ltd. has a 1 year low of $154.08 and a 1 year high of $366.50.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $4.38 EPS for the quarter, topping analysts' consensus estimates of $4.04 by $0.34. The business had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.54 billion. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%.The business's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.21 earnings per share. 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, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Vagn O. Sorensen sold 10,300 shares of the 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 in the company, valued at approximately $5,414,966.28. This trade represents a 38.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard D. Fain sold 16,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $311.02, for a total value of $4,976,320.00. Following the sale, the director owned 150,291 shares of the company's stock, valued at $46,743,506.82. This represents a 9.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,507 shares of company stock worth $10,091,282. 6.95% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

RCL has been the topic of several analyst reports. William Blair reissued an "outperform" rating on shares of Royal Caribbean Cruises in a report on Wednesday, July 23rd. Susquehanna reissued a "positive" rating and issued a $385.00 target price (up from $275.00) on shares of Royal Caribbean Cruises in a report on Wednesday, July 30th. Stifel Nicolaus upped their price target on Royal Caribbean Cruises from $400.00 to $420.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Truist Financial set a $337.00 price target on Royal Caribbean Cruises in a report on Wednesday, July 30th. Finally, Barclays upped their price target on Royal Caribbean Cruises from $263.00 to $358.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $327.14.

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.