Oppenheimer & Co. Inc. Trims Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Oppenheimer & Co. Inc. lowered its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 8.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 17,012 shares of the company’s stock after selling 1,621 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Royal Caribbean Cruises were worth $3,017,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RCL. Unique Wealth Strategies LLC purchased a new stake in Royal Caribbean Cruises in the second quarter worth $27,000. Versant Capital Management Inc lifted its position in shares of Royal Caribbean Cruises by 905.3% in the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after purchasing an additional 172 shares during the period. DiNuzzo Private Wealth Inc. lifted its position in shares of 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 purchasing an additional 121 shares during the period. AlphaMark Advisors LLC boosted its stake in shares of Royal Caribbean Cruises by 233.3% during the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Royal Caribbean Cruises by 50.3% during the second quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $37,000 after buying an additional 78 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Price Performance

NYSE RCL opened at $231.49 on Friday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises Ltd. has a 1-year low of $101.04 and a 1-year high of $238.10. The stock has a market capitalization of $62.24 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 0.62 and a beta of 2.59. The business’s fifty day moving average price is $192.17 and its 200-day moving average price is $167.30.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the firm posted $3.85 earnings per share. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities analysts predict that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RCL. The Goldman Sachs Group upped their target price on Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Macquarie raised their price objective on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Finally, Morgan Stanley lifted their price target on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $220.00.

Insider Activity at Royal Caribbean Cruises

In related 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 transaction, the insider now directly owns 27,388 shares in the company, valued at approximately $4,620,629.48. The trade was a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard D. Fain sold 25,000 shares of the company’s stock in a transaction dated 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 owns 204,521 shares of the company’s stock, valued at approximately $42,953,500.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,796 shares of company stock worth $7,170,759. 7.95% of the stock is owned by company insiders.

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.