Evolution Wealth Advisors LLC Takes Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Evolution Wealth Advisors LLC acquired a new position in Royal Caribbean Cruises Ltd., purchasing 3,706 shares valued at approximately $761,000 in the first quarter of the year.
• Royal Caribbean reported quarterly earnings of $4.38 EPS, surpassing analyst expectations, with revenues for the quarter amounting to $4.54 billion, marking a 10.4% increase year-over-year.
• Current analyst ratings show an overall consensus of Moderate Buy for RCL shares, with a consensus price target set at $321.10.

Evolution Wealth Advisors LLC acquired a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,706 shares of the company's stock, valued at approximately $761,000.

A number of other hedge funds also recently added to or reduced their stakes in RCL. Financial Gravity Asset Management Inc. bought a new stake in shares of Royal Caribbean Cruises during the 1st quarter valued at $25,000. Hughes Financial Services LLC bought a new position in Royal Caribbean Cruises in the 1st quarter worth $26,000. Fourth Dimension Wealth LLC bought a new position in Royal Caribbean Cruises in the 4th quarter worth $35,000. Optimum Investment Advisors bought a new position in Royal Caribbean Cruises in the 1st quarter worth $31,000. Finally, Capital A Wealth Management LLC bought a new position in Royal Caribbean Cruises in the 4th quarter worth $40,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Price Performance

Shares of RCL stock opened at $313.72 on Thursday. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.23 and a quick ratio of 0.21. The company has a market capitalization of $85.21 billion, a P/E ratio of 23.52, a P/E/G ratio of 0.87 and a beta of 2.22. The company's 50-day simple moving average is $306.51 and its two-hundred day simple moving average is $255.41. Royal Caribbean Cruises Ltd. has a one year low of $147.05 and a one year high of $355.91.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released 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. 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 for the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the firm earned $3.21 earnings per share. The company's quarterly revenue was up 10.4% on a year-over-year basis. As a group, equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the completion of the sale, the director owned 165,421 shares of the company's stock, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Henry L. Pujol sold 5,207 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $329.47, for a total value of $1,715,550.29. Following the sale, the chief accounting officer directly owned 7,826 shares of the company's stock, valued at approximately $2,578,432.22. This represents a 39.95% decrease in their position. The disclosure for this sale can be found here. 6.95% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RCL has been the subject of several recent analyst reports. Loop Capital reiterated a "buy" rating and issued a $290.00 price target (up previously from $250.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, June 3rd. Truist Financial set a $337.00 price target on shares of Royal Caribbean Cruises in a research note on Wednesday, July 30th. Wall Street Zen cut shares of Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Jefferies Financial Group upped their target price 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, TD Cowen initiated coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, July 22nd. They set a "buy" rating and a $405.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $321.10.

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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