Evolution Wealth Advisors LLC Makes New Investment 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 purchased a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,706 shares of the company's stock, valued at approximately $761,000.

A number of other institutional investors have also added to or reduced their stakes in RCL. Brighton Jones LLC raised its stake in Royal Caribbean Cruises by 12.2% during the 4th quarter. Brighton Jones LLC now owns 1,312 shares of the company's stock worth $303,000 after buying an additional 143 shares during the period. Envestnet Asset Management Inc. raised its stake in Royal Caribbean Cruises by 14.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 297,864 shares of the company's stock worth $68,714,000 after buying an additional 37,421 shares during the period. Shelton Capital Management raised its stake in Royal Caribbean Cruises by 8.5% during the 4th quarter. Shelton Capital Management now owns 1,341 shares of the company's stock worth $309,000 after buying an additional 105 shares during the period. Advisory Services Network LLC raised its stake in Royal Caribbean Cruises by 48.8% during the 4th quarter. Advisory Services Network LLC now owns 14,815 shares of the company's stock worth $3,418,000 after buying an additional 4,857 shares during the period. Finally, Bessemer Group Inc. increased its holdings in Royal Caribbean Cruises by 0.7% during the 4th quarter. Bessemer Group Inc. now owns 17,594 shares of the company's stock worth $4,059,000 after purchasing an additional 126 shares in the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 5,207 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $329.47, for a total transaction 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 approximately $2,578,432.22. This represents a 39.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard D. Fain sold 19,600 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $253.10, for a total value of $4,960,760.00. Following the transaction, the director directly owned 165,421 shares of the company's stock, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,807 shares of company stock valued at $11,652,630. 6.95% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on RCL. Bank of America boosted their price objective on Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Stifel Nicolaus boosted their price objective on Royal Caribbean Cruises from $400.00 to $420.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Melius Research raised Royal Caribbean Cruises to a "strong-buy" rating in a report on Monday, April 21st. Barclays boosted their price objective on Royal Caribbean Cruises from $263.00 to $358.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Finally, Susquehanna reissued a "positive" rating and set a $385.00 price objective (up from $275.00) on shares of Royal Caribbean Cruises in a report on Wednesday, July 30th. Five 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $323.10.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock traded up $1.47 during trading on Monday, hitting $302.91. The company's stock had a trading volume of 447,609 shares, compared to its average volume of 2,538,903. The business has a fifty day moving average of $308.51 and a 200-day moving average of $256.54. Royal Caribbean Cruises Ltd. has a 52 week low of $150.33 and a 52 week high of $355.91. The company has a market cap of $82.28 billion, a PE ratio of 22.71, a P/E/G ratio of 0.85 and a beta of 2.22. The company has a current ratio of 0.23, a quick ratio of 0.21 and a debt-to-equity ratio of 1.88.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.04 by $0.34. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%. The business had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the company earned $3.21 earnings per share. Royal Caribbean Cruises's revenue was up 10.4% compared to the same quarter last year. As a group, research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

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.