Townsquare Capital LLC Increases Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Townsquare Capital LLC increased its stake in Royal Caribbean Cruises Ltd. by 49.5%, owning 5,898 shares worth $1.21 million after purchasing an additional 1,953 shares in the first quarter.
• Royal Caribbean Cruises reported a quarterly EPS of $4.38, surpassing estimates and showing a year-over-year revenue increase of 10.4% to $4.54 billion.
• Multiple financial institutions have recently initiated or increased their holdings in RCL, with 87.53% of the stock currently owned by hedge funds and institutional investors.

Townsquare Capital LLC lifted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 49.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,898 shares of the company's stock after buying an additional 1,953 shares during the quarter. Townsquare Capital LLC's holdings in Royal Caribbean Cruises were worth $1,212,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of RCL. Financial Gravity Asset Management Inc. purchased a new stake in Royal Caribbean Cruises during the 1st quarter worth approximately $25,000. Hughes Financial Services LLC purchased a new stake in Royal Caribbean Cruises during 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, Capital A Wealth Management LLC purchased a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $40,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Trading Up 0.1%

NYSE:RCL opened at $313.44 on Thursday. Royal Caribbean Cruises Ltd. has a 1 year low of $150.33 and a 1 year high of $355.91. The stock has a market cap of $85.14 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 0.88 and a beta of 2.22. The business has a fifty day moving average of $311.20 and a 200-day moving average of $257.81. 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 released its quarterly earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.34. The company had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.54 billion. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.21 earnings per share. Equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Analyst Ratings Changes

RCL has been the topic of several analyst reports. Barclays lifted their price objective on Royal Caribbean Cruises from $263.00 to $358.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. UBS Group set a $353.00 price objective on Royal Caribbean Cruises and gave the stock a "buy" rating in a report on Friday, August 8th. Susquehanna restated a "positive" rating and set a $385.00 price objective (up from $275.00) on shares of Royal Caribbean Cruises in a report on Wednesday, July 30th. Truist Financial set a $337.00 price target on Royal Caribbean Cruises in a report on Wednesday, July 30th. Finally, Bank of America boosted their price target on Royal Caribbean Cruises from $230.00 to $355.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Five research 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $323.10.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CAO Henry L. Pujol sold 5,207 shares of the company's 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 owned 7,826 shares in the company, valued at $2,578,432.22. This represents a 39.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard D. Fain sold 16,000 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $311.02, for a total value of $4,976,320.00. Following the completion of the sale, the director owned 150,291 shares of the company's stock, valued at approximately $46,743,506.82. This trade represents a 9.62% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,807 shares of company stock valued at $11,652,630. Insiders own 6.95% of the company's stock.

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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