Harvest Portfolios Group Inc. Trims Stock Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Harvest Portfolios Group Inc. reduced its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 8.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,424 shares of the company’s stock after selling 3,399 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Royal Caribbean Cruises were worth $6,283,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of RCL. Unique Wealth Strategies LLC purchased a new position in Royal Caribbean Cruises during the 2nd quarter valued at about $27,000. Versant Capital Management Inc lifted its position in Royal Caribbean Cruises by 905.3% during the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after purchasing an additional 172 shares during the last quarter. DiNuzzo Private Wealth Inc. grew its stake in Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after buying an additional 121 shares in the last quarter. AlphaMark Advisors LLC increased its stake in Royal Caribbean Cruises by 233.3% in the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Royal Caribbean Cruises by 50.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $37,000 after buying an additional 78 shares in the last quarter. 87.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard D. Fain sold 25,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the completion of the sale, the director now directly owns 204,521 shares in the company, valued at approximately $42,953,500.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,596 shares of company stock worth $8,090,059. 7.95% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Trading Up 3.7 %

Shares of RCL opened at $218.50 on Wednesday. Royal Caribbean Cruises Ltd. has a 1-year low of $90.00 and a 1-year high of $218.50. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The firm’s 50-day moving average price is $182.72 and its 200-day moving average price is $163.12. The firm has a market capitalization of $58.75 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 0.53 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the business earned $3.85 EPS. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. Sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RCL. StockNews.com cut shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their price target on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their price objective on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Truist Financial increased their target price on Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Barclays lifted their price target on Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $214.00.

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.