Royal Caribbean Cruises Ltd. $RCL Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its holdings in Royal Caribbean Cruises Ltd. by 86.2%, selling 80,812 shares, which left it with 12,982 shares worth $2.67 million at the end of the 1st quarter.
• Royal Caribbean Cruises reported quarterly earnings of $4.38 per share, exceeding expectations, with revenues of $4.54 billion up 10.4% year-over-year.
• Insider selling increased, with directors selling more than 31,500 shares in the last quarter, indicating a 9.62% to 38.57% decrease in their stock ownership.

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 86.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,982 shares of the company's stock after selling 80,812 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Royal Caribbean Cruises were worth $2,667,000 at the end of the most recent quarter.

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

Royal Caribbean Cruises Trading Down 0.4%

Royal Caribbean Cruises stock opened at $328.8510 on Thursday. The firm has a market cap of $89.33 billion, a PE ratio of 24.65, a P/E/G ratio of 0.93 and a beta of 2.22. Royal Caribbean Cruises Ltd. has a 12 month low of $154.08 and a 12 month high of $355.91. The stock's 50 day simple moving average is $316.25 and its two-hundred day simple moving average is $259.88. 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 released its quarterly earnings data 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 net margin of 20.97% and a return on equity of 47.15%. The company had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter in the previous year, the company earned $3.21 earnings per share. The firm's revenue for the quarter was up 10.4% on a year-over-year basis. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. Analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Macquarie reduced their target price on Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Northcoast Research assumed coverage on Royal Caribbean Cruises in a report on Friday, April 25th. They issued a "buy" rating and a $279.00 price objective on the stock. TD Cowen began coverage on Royal Caribbean Cruises in a research note on Tuesday, July 22nd. They issued a "buy" rating and a $405.00 price objective for the company. Sanford C. Bernstein upped their target price on Royal Caribbean Cruises from $290.00 to $360.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Barclays increased their price target on shares of Royal Caribbean Cruises from $263.00 to $358.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of "Moderate Buy" and a consensus target price of $323.10.

Insider Activity

In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 10,300 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director owned 16,407 shares of the company's stock, valued at $5,414,966.28. This represents a 38.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard D. Fain sold 16,000 shares of the business's stock in a transaction that occurred on 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. The trade was a 9.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,507 shares of company stock worth $10,091,282 in the last quarter. Corporate 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.

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.