NewEdge Wealth LLC Takes Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

NewEdge Wealth LLC acquired a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 9,929 shares of the company's stock, valued at approximately $1,286,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RCL. Panagora Asset Management Inc. boosted its position in shares of Royal Caribbean Cruises by 21.8% during the first quarter. Panagora Asset Management Inc. now owns 11,553 shares of the company's stock worth $968,000 after buying an additional 2,068 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Royal Caribbean Cruises by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,004 shares of the company's stock worth $2,514,000 after purchasing an additional 1,861 shares during the period. Yousif Capital Management LLC lifted its position in Royal Caribbean Cruises by 2.3% in the first quarter. Yousif Capital Management LLC now owns 35,806 shares of the company's stock worth $3,000,000 after purchasing an additional 818 shares during the period. Aviva PLC lifted its position in Royal Caribbean Cruises by 65.5% in the first quarter. Aviva PLC now owns 54,096 shares of the company's stock worth $4,532,000 after purchasing an additional 21,415 shares during the period. Finally, Prudential PLC acquired a new stake in Royal Caribbean Cruises in the first quarter worth approximately $300,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the firm's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the transaction, the chief executive officer now directly owns 166,537 shares in the company, valued at $19,319,957.37. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 8.70% of the company's stock.

Royal Caribbean Cruises Stock Down 0.4 %

Shares of NYSE:RCL traded down $0.54 during midday trading on Tuesday, hitting $126.63. 3,057,653 shares of the stock were exchanged, compared to its average volume of 2,749,367. The company has a debt-to-equity ratio of 4.03, a quick ratio of 0.16 and a current ratio of 0.19. Royal Caribbean Cruises Ltd. has a 52-week low of $59.37 and a 52-week high of $141.70. The business's fifty day simple moving average is $127.66 and its two-hundred day simple moving average is $115.37. The company has a market capitalization of $32.50 billion, a PE ratio of 20.36, a P/E/G ratio of 0.46 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.12. Royal Caribbean Cruises had a return on equity of 45.55% and a net margin of 12.22%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the company earned ($1.12) earnings per share. Royal Caribbean Cruises's quarterly revenue was up 28.0% compared to the same quarter last year. As a group, research analysts predict that Royal Caribbean Cruises Ltd. will post 10.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group restated a "buy" rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Susquehanna upped their target price on Royal Caribbean Cruises from $120.00 to $150.00 and gave the stock a "positive" rating in a research report on Wednesday, January 31st. Tigress Financial upped their target price on Royal Caribbean Cruises from $139.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, December 21st. UBS Group upped their target price on Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a "buy" rating in a research report on Friday, February 16th. Finally, Macquarie raised their price objective on Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an "outperform" rating in a research note on Friday, March 15th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Royal Caribbean Cruises has an average rating of "Moderate Buy" and an average target price of $135.25.

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.