iA Global Asset Management Inc. Invests $2.28 Million in Royal Caribbean Cruises Ltd. (NYSE:RCL)

iA Global Asset Management Inc. purchased a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,110 shares of the company's stock, valued at approximately $2,282,000.

Several other large investors also recently made changes to their positions in the stock. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Royal Caribbean Cruises by 19.5% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 954 shares of the company's stock worth $196,000 after acquiring an additional 156 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in shares of Royal Caribbean Cruises by 31.5% during the 1st quarter. Atria Wealth Solutions Inc. now owns 7,804 shares of the company's stock worth $1,608,000 after acquiring an additional 1,870 shares in the last quarter. Empower Advisory Group LLC lifted its position in shares of Royal Caribbean Cruises by 10.0% during the 1st quarter. Empower Advisory Group LLC now owns 1,812 shares of the company's stock worth $372,000 after purchasing an additional 164 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Royal Caribbean Cruises by 6.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 84,659 shares of the company's stock worth $17,392,000 after purchasing an additional 4,787 shares during the last quarter. Finally, Allianz SE boosted its stake in Royal Caribbean Cruises by 45.6% during the 1st quarter. Allianz SE now owns 5,272 shares of the company's stock valued at $1,083,000 after purchasing an additional 1,652 shares during the period. Institutional investors own 87.53% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RCL. Barclays increased their target price on Royal Caribbean Cruises from $263.00 to $358.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Jefferies Financial Group increased their target price on Royal Caribbean Cruises from $235.00 to $315.00 and gave the company a "hold" rating in a research note on Monday, July 7th. Northcoast Research began coverage on Royal Caribbean Cruises in a research note on Friday, April 25th. They set a "buy" rating and a $279.00 target price for the company. Bank of America increased their target price on Royal Caribbean Cruises from $230.00 to $355.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Morgan Stanley increased their target price on Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $321.10.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CAO Henry L. Pujol sold 5,207 shares of Royal Caribbean Cruises stock in a transaction on 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 completion of the sale, the chief accounting officer directly owned 7,826 shares of the company's stock, valued at approximately $2,578,432.22. This trade represents a 39.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises 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 completion of the sale, the director directly owned 165,421 shares of the company's stock, valued at $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. 6.95% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Trading Up 0.8%

RCL stock opened at $313.72 on Thursday. The business has a fifty day moving average price of $306.51 and a 200 day moving average price of $255.41. Royal Caribbean Cruises Ltd. has a fifty-two week low of $147.05 and a fifty-two week high of $355.91. The stock has a market capitalization of $85.21 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 0.87 and a beta of 2.22. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.23 and a quick ratio of 0.21.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.54 billion. During the same period last year, the firm posted $3.21 EPS. The business's revenue was up 10.4% on a year-over-year basis. Analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal 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.

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