Bank of Nova Scotia Sells 57,621 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Bank of Nova Scotia cut its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCLGet Rating) by 75.5% in the second quarter, HoldingsChannel reports. The firm owned 18,649 shares of the company’s stock after selling 57,621 shares during the period. Bank of Nova Scotia’s holdings in Royal Caribbean Cruises were worth $651,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bogart Wealth LLC lifted its position in shares of Royal Caribbean Cruises by 87.3% in the 2nd quarter. Bogart Wealth LLC now owns 708 shares of the company’s stock worth $25,000 after purchasing an additional 330 shares during the period. Tcwp LLC bought a new position in Royal Caribbean Cruises in the first quarter worth approximately $37,000. PSI Advisors LLC lifted its holdings in Royal Caribbean Cruises by 56.3% during the second quarter. PSI Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after buying an additional 450 shares during the period. Venture Visionary Partners LLC bought a new stake in Royal Caribbean Cruises during the 2nd quarter valued at $50,000. Finally, Allworth Financial LP increased its holdings in shares of Royal Caribbean Cruises by 34.3% in the 2nd quarter. Allworth Financial LP now owns 1,640 shares of the company’s stock valued at $57,000 after acquiring an additional 419 shares during the period. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Up 1.5 %

RCL stock opened at $58.69 on Monday. The company has a market capitalization of $14.98 billion, a P/E ratio of -4.96 and a beta of 2.40. Royal Caribbean Cruises Ltd. has a 12 month low of $31.09 and a 12 month high of $90.55. The firm’s fifty day simple moving average is $49.12 and its 200-day simple moving average is $45.90. The company has a debt-to-equity ratio of 6.05, a current ratio of 0.29 and a quick ratio of 0.27.

Wall Street Analyst Weigh In

RCL has been the subject of a number of analyst reports. Truist Financial decreased their price objective on Royal Caribbean Cruises from $65.00 to $58.00 and set a “hold” rating for the company in a research note on Tuesday, September 20th. StockNews.com raised shares of Royal Caribbean Cruises to a “sell” rating in a research report on Friday, November 4th. Susquehanna lowered their target price on shares of Royal Caribbean Cruises from $70.00 to $50.00 in a research note on Friday, July 29th. Barclays upped their price target on Royal Caribbean Cruises from $55.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, September 19th. Finally, Morgan Stanley lowered their price objective on Royal Caribbean Cruises from $54.00 to $40.00 and set an “underweight” rating for the company in a research report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.08.

Royal Caribbean Cruises Company Profile

(Get Rating)

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of February 25, 2022, it operated 61 ships.

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Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

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