Mutual of America Capital Management LLC Reduces Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Mutual of America Capital Management LLC has reduced its stake in Royal Caribbean Cruises Ltd. by 2.8%, now holding 28,812 shares valued at approximately $5.9 million.
• Several institutional investors, including Revisor Wealth Management LLC and Concurrent Investment Advisors LLC, significantly altered their positions in Royal Caribbean Cruises during the first quarter, indicating a notable interest in the stock.
• Royal Caribbean Cruises reported earnings of $4.38 per share, surpassing expectations by $0.34, and shown a 10.4% year-over-year revenue increase of $4.54 billion.

Mutual of America Capital Management LLC reduced its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,812 shares of the company's stock after selling 837 shares during the quarter. Mutual of America Capital Management LLC's holdings in Royal Caribbean Cruises were worth $5,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RCL. Revisor Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the 1st quarter worth about $1,525,000. Brown Miller Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises during the first quarter valued at approximately $266,000. Western Financial Corp CA boosted its position in Royal Caribbean Cruises by 25.0% during the first quarter. Western Financial Corp CA now owns 8,615 shares of the company's stock worth $1,770,000 after acquiring an additional 1,725 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in Royal Caribbean Cruises by 89.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 7,781 shares of the company's stock valued at $1,599,000 after acquiring an additional 3,679 shares during the last quarter. Finally, Generate Investment Management Ltd raised its holdings in Royal Caribbean Cruises by 45.2% in the 1st quarter. Generate Investment Management Ltd now owns 122,761 shares of the company's stock valued at $25,220,000 after acquiring an additional 38,230 shares during the last quarter. 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 $309.59 on Friday. The firm has a fifty day simple moving average of $307.62 and a 200-day simple moving average of $255.87. The company has a market capitalization of $84.09 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 0.88 and a beta of 2.22. Royal Caribbean Cruises Ltd. has a twelve month low of $149.50 and a twelve month high of $355.91. 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 earnings results 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 company had revenue of $4.54 billion during 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 revenue was up 10.4% on a year-over-year basis. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Insider Activity at Royal Caribbean Cruises

In related news, CAO Henry L. Pujol sold 5,207 shares of the company's stock in a transaction on 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 sale, the chief accounting officer directly owned 7,826 shares of the company's stock, valued at $2,578,432.22. This represents a 39.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard D. Fain sold 19,600 shares of the firm's stock in a transaction on 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 transaction, the director directly owned 165,421 shares of the company's stock, valued at approximately $41,868,055.10. This 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 owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on RCL. William Blair reaffirmed an "outperform" rating on shares of Royal Caribbean Cruises in a research report on Wednesday, July 23rd. Citigroup lifted their price target on Royal Caribbean Cruises from $390.00 to $399.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. TD Cowen began coverage on shares of Royal Caribbean Cruises in a report on Tuesday, July 22nd. They set a "buy" rating and a $405.00 price objective on the stock. Loop Capital reissued a "buy" rating and issued a $290.00 target price (up from $250.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Royal Caribbean Cruises from $302.00 to $367.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Royal Caribbean Cruises presently has an average rating of "Moderate Buy" and a consensus target price of $321.10.

Royal Caribbean Cruises Company 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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