Entropy Technologies LP Acquires New Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Entropy Technologies LP has acquired a new stake in Royal Caribbean Cruises Ltd., purchasing 9,602 shares valued at approximately $1,973,000 in the first quarter.
• Royal Caribbean Cruises received several positive ratings from analysts, including a $353.00 target price from UBS Group and a "strong-buy" rating from Melius Research.
• Insider trading activity noted a significant sale of shares by Director Richard D. Fain, who sold 19,600 shares for a total of $4,960,760.

Entropy Technologies LP acquired a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,602 shares of the company's stock, valued at approximately $1,973,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fiduciary Family Office LLC acquired a new stake in shares of Royal Caribbean Cruises in the first quarter valued at about $796,000. Frank Rimerman Advisors LLC increased its holdings in Royal Caribbean Cruises by 34.8% during the 1st quarter. Frank Rimerman Advisors LLC now owns 2,488 shares of the company's stock valued at $511,000 after acquiring an additional 642 shares in the last quarter. Townsquare Capital LLC increased its holdings in Royal Caribbean Cruises by 49.5% during the 1st quarter. Townsquare Capital LLC now owns 5,898 shares of the company's stock valued at $1,212,000 after acquiring an additional 1,953 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in Royal Caribbean Cruises during the 1st quarter valued at about $158,000. Finally, Forsta AP Fonden increased its holdings in Royal Caribbean Cruises by 2.1% during the 1st quarter. Forsta AP Fonden now owns 67,800 shares of the company's stock valued at $13,929,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company's stock.

Wall Street Analysts Forecast Growth

RCL has been the subject of several recent research reports. UBS Group set a $353.00 target price on shares of Royal Caribbean Cruises and gave the company a "buy" rating in a report on Friday. Jefferies Financial Group raised their target price on shares of Royal Caribbean Cruises from $235.00 to $315.00 and gave the company a "hold" rating in a report on Monday, July 7th. Northcoast Research initiated coverage on shares of Royal Caribbean Cruises in a report on Friday, April 25th. They set a "buy" rating and a $279.00 target price for the company. Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a report on Monday, April 21st. Finally, Stifel Nicolaus raised their target price on shares of Royal Caribbean Cruises from $400.00 to $420.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $323.10.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock opened at $301.43 on Monday. Royal Caribbean Cruises Ltd. has a one year low of $150.33 and a one year 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. The company has a 50 day moving average price of $308.51 and a 200 day moving average price of $256.54. The firm has a market capitalization of $81.88 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 0.85 and a beta of 2.22.

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 the consensus estimate of $4.04 by $0.34. Royal Caribbean Cruises had a net margin of 20.97% and a return on equity of 47.15%. The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the business posted $3.21 earnings per share. Royal Caribbean Cruises's revenue for the quarter was up 10.4% compared to the same quarter last year. Sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Insider Buying and Selling

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the transaction, the director directly owned 165,421 shares of the company's stock, valued at $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Henry L. Pujol sold 5,207 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $329.47, for a total transaction of $1,715,550.29. Following the transaction, the chief accounting officer directly owned 7,826 shares in the company, valued at approximately $2,578,432.22. This trade represents a 39.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,807 shares of company stock worth $11,652,630. 6.95% of the stock is currently owned by corporate insiders.

About Royal Caribbean Cruises

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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