HighTower Advisors LLC Sells 3,849 Shares of Royal Caribbean Cruises Ltd. $RCL

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

HighTower Advisors LLC reduced its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 9.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,155 shares of the company's stock after selling 3,849 shares during the quarter. HighTower Advisors LLC's holdings in Royal Caribbean Cruises were worth $7,428,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake 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 buying an additional 602,447 shares in the last quarter. Bank of New York Mellon Corp grew its stake 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 buying an additional 535,043 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Royal Caribbean Cruises by 24.0% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,653,258 shares of the company's stock valued at $612,080,000 after buying an additional 513,702 shares in the last quarter. Northern Trust Corp grew its stake in shares of Royal Caribbean Cruises by 15.6% in the fourth quarter. Northern Trust Corp now owns 2,364,794 shares of the company's stock valued at $545,534,000 after buying an additional 319,264 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Royal Caribbean Cruises in the first quarter valued at $358,614,000. 87.53% of the stock is owned by institutional investors.

Royal Caribbean Cruises Stock Up 4.2%

RCL stock opened at $327.16 on Tuesday. 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 market capitalization of $88.87 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 0.88 and a beta of 2.22. Royal Caribbean Cruises Ltd. has a fifty-two week low of $154.08 and a fifty-two week high of $355.91. The stock has a fifty day moving average of $313.83 and a 200-day moving average of $258.91.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share for the quarter, topping 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 company had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the company earned $3.21 EPS. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein raised their target price on shares of Royal Caribbean Cruises from $290.00 to $360.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Barclays raised their target price on shares of Royal Caribbean Cruises from $263.00 to $358.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. TD Cowen initiated coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, July 22nd. They issued a "buy" rating and a $405.00 target price for the company. Truist Financial set a $337.00 price target on Royal Caribbean Cruises in a report on Wednesday, July 30th. Finally, Northcoast Research initiated coverage on Royal Caribbean Cruises in a report on Friday, April 25th. They set a "buy" rating and a $279.00 price target for the company. Five 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $323.10.

Insider Activity

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 16,000 shares of the firm's 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 trade represents a 9.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Henry L. Pujol sold 5,207 shares of the firm's 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 sale, the chief accounting officer directly owned 7,826 shares in the company, valued at approximately $2,578,432.22. The trade was a 39.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.95% of the company's stock.

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.

Want to see what other hedge funds are holding RCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.