Strategy Asset Managers LLC Raises Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Strategy Asset Managers LLC increased its stake in Royal Caribbean Cruises by 241.1% in the first quarter, buying an additional 2,589 shares to reach a total of 3,663 shares, worth approximately $753,000.
• Royal Caribbean Cruises reported an EPS of $4.38 for the quarter, surpassing analyst expectations and showing a 10.4% year-over-year revenue growth, amounting to $4.54 billion.
• Major hedge funds and institutional investors own 87.53% of Royal Caribbean's stock, indicating strong institutional interest in the company.

Strategy Asset Managers LLC increased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 241.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,663 shares of the company's stock after buying an additional 2,589 shares during the quarter. Strategy Asset Managers LLC's holdings in Royal Caribbean Cruises were worth $753,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new position in shares of Royal Caribbean Cruises in the 1st quarter worth $25,000. Hughes Financial Services LLC purchased a new position in shares of Royal Caribbean Cruises in the 1st quarter worth $26,000. Fourth Dimension Wealth LLC purchased a new position in Royal Caribbean Cruises in the fourth quarter valued at about $35,000. Optimum Investment Advisors purchased a new position in Royal Caribbean Cruises in the first quarter valued at about $31,000. Finally, Capital A Wealth Management LLC purchased a new position in Royal Caribbean Cruises in the fourth quarter valued at about $40,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Down 1.4%

NYSE:RCL opened at $311.42 on Wednesday. The company has a market capitalization of $84.59 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 0.89 and a beta of 2.22. Royal Caribbean Cruises Ltd. has a one year low of $145.59 and a one year high of $355.91. The stock has a 50-day simple moving average of $305.25 and a 200 day simple moving average of $255.00. 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 (NYSE:RCL - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $4.38 EPS 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 company had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the firm posted $3.21 earnings per share. Royal Caribbean Cruises's quarterly revenue was up 10.4% compared to the same quarter last year. Sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 5,207 shares of Royal Caribbean Cruises stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 7,826 shares in the company, valued at $2,578,432.22. The trade was a 39.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction that occurred 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 transaction, the director owned 165,421 shares of the company's stock, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.95% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on RCL shares. The Goldman Sachs Group cut their price objective on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Susquehanna reissued a "positive" rating and issued a $385.00 price objective (up from $275.00) on shares of Royal Caribbean Cruises in a research report on Wednesday, July 30th. 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. UBS Group set a $311.00 price objective on Royal Caribbean Cruises and gave the company a "buy" rating in a research report on Tuesday, May 20th. Finally, Truist Financial set a $337.00 target price on Royal Caribbean Cruises in a research note on Wednesday, July 30th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of "Moderate Buy" and an average target price of $321.10.

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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