Brooklyn Investment Group Acquires 1,440 Shares of Royal Caribbean Cruises Ltd. $RCL

Key Points

• Brooklyn Investment Group increased its stake in Royal Caribbean Cruises Ltd. by 68% in Q1, acquiring an additional 1,440 shares, bringing their total holdings to 3,557 shares valued at approximately $731,000.
• Royal Caribbean's stock is currently trading at $327.16, with a market cap of $88.87 billion, and recent earnings reflect a strong performance with EPS of $4.38, exceeding analysts' expectations.
• Institutional investors hold 87.53% of Royal Caribbean's stock, indicating strong confidence in the company's future performance, while various analysts have issued both upgrades and downgrades with varying price targets.

Brooklyn Investment Group boosted its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 68.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,557 shares of the company's stock after acquiring an additional 1,440 shares during the quarter. Brooklyn Investment Group's holdings in Royal Caribbean Cruises were worth $731,000 at the end of the most recent reporting period.

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

Royal Caribbean Cruises Stock Up 4.2%

Shares of NYSE RCL opened at $327.16 on Tuesday. The stock has a market cap of $88.87 billion, a PE ratio of 24.52, a PEG ratio of 0.88 and a beta of 2.22. The business has a fifty day moving average of $313.83 and a two-hundred day moving average of $258.91. Royal Caribbean Cruises Ltd. has a 52-week low of $154.08 and a 52-week high of $355.91. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.21 and a current ratio of 0.23.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.04 by $0.34. The company 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 revenue was up 10.4% on a year-over-year basis. During the same period last year, the business earned $3.21 earnings per share. As a group, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard D. Fain sold 16,000 shares of Royal Caribbean Cruises 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 completion of the transaction, the director directly owned 150,291 shares of the company's stock, valued at $46,743,506.82. The trade was a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Henry L. Pujol sold 5,207 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $329.47, for a total value of $1,715,550.29. Following the completion of the transaction, the chief accounting officer directly owned 7,826 shares of the company's stock, valued at $2,578,432.22. This represents a 39.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.95% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RCL shares. Morgan Stanley lifted their price target on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Sanford C. Bernstein raised their price objective on shares of Royal Caribbean Cruises from $290.00 to $360.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Wall Street Zen downgraded shares of Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Bank of America raised their price objective on shares of Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Northcoast Research initiated coverage on shares of Royal Caribbean Cruises in a research note on Friday, April 25th. They issued a "buy" rating and a $279.00 price objective on the stock. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $323.10.

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.

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