Royal Caribbean Cruises Ltd. $RCL is Forest Avenue Capital Management LP's 5th Largest Position

Key Points

• Forest Avenue Capital Management LP has increased its holdings in Royal Caribbean Cruises by 71.2%, making it the firm’s fifth largest position, accounting for approximately 7.9% of its portfolio.
• Royal Caribbean Cruises reported $4.38 EPS for the last quarter, exceeding analyst expectations, and the company's revenue grew 10.4% year-over-year.
• Multiple analysts have recently upgraded their price targets for RCL stock, with the average target now at $327.14 and the consensus rating being a Moderate Buy.

Forest Avenue Capital Management LP increased its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 71.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 283,127 shares of the company's stock after purchasing an additional 117,768 shares during the period. Royal Caribbean Cruises accounts for about 7.9% of Forest Avenue Capital Management LP's holdings, making the stock its 5th biggest holding. Forest Avenue Capital Management LP owned approximately 0.10% of Royal Caribbean Cruises worth $58,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in RCL. Financial Gravity Asset Management Inc. purchased a new stake in Royal Caribbean Cruises during the 1st quarter worth $25,000. Hughes Financial Services LLC purchased a new stake in Royal Caribbean Cruises during the 1st quarter worth $26,000. Optimum Investment Advisors purchased a new stake in Royal Caribbean Cruises during the 1st quarter worth $31,000. Fourth Dimension Wealth LLC purchased a new stake in Royal Caribbean Cruises during the 4th quarter worth $35,000. Finally, SouthState Corp purchased a new stake in Royal Caribbean Cruises during the 1st quarter worth $39,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RCL has been the subject of a number of research reports. Sanford C. Bernstein upped their price target on shares of Royal Caribbean Cruises from $290.00 to $360.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. William Blair reissued an "outperform" rating on shares of Royal Caribbean Cruises in a research report on Wednesday, July 23rd. Loop Capital reissued a "buy" rating and issued a $290.00 price objective (up from $250.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, June 3rd. Morgan Stanley upped their price objective on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Finally, UBS Group upped their price objective on shares of Royal Caribbean Cruises from $311.00 to $353.00 and gave the company a "buy" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $327.14.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 16,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $311.02, for a total transaction of $4,976,320.00. Following the sale, the director owned 150,291 shares in the company, valued at $46,743,506.82. This represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vagn O. Sorensen sold 10,300 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $330.04, for a total transaction of $3,399,412.00. Following the sale, the director owned 16,407 shares in the company, valued at approximately $5,414,966.28. This trade represents a 38.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,507 shares of company stock valued at $10,091,282. Insiders own 6.95% of the company's stock.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock opened at $344.2190 on Friday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.21 and a current ratio of 0.23. Royal Caribbean Cruises Ltd. has a one year low of $154.08 and a one year high of $355.91. The company's 50-day simple moving average is $319.17 and its 200-day simple moving average is $260.88. The stock has a market capitalization of $93.50 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 0.91 and a beta of 2.22.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $4.38 EPS for the quarter, topping the consensus estimate 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 business had revenue of $4.54 billion for the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter last year, the company posted $3.21 earnings per share. The company's quarterly revenue was up 10.4% compared to the same quarter last year. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. Equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

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.

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.