Meitav Investment House Ltd. Acquires New Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Meitav Investment House Ltd. acquired a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,627 shares of the company’s stock, valued at approximately $1,291,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RCL. Capital World Investors boosted its stake in Royal Caribbean Cruises by 1,314.9% in the first quarter. Capital World Investors now owns 2,759,035 shares of the company’s stock valued at $231,152,000 after acquiring an additional 2,564,035 shares in the last quarter. Norges Bank purchased a new position in Royal Caribbean Cruises during the 4th quarter worth $100,326,000. Los Angeles Capital Management LLC increased its position in Royal Caribbean Cruises by 822.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 621,420 shares of the company’s stock valued at $64,466,000 after buying an additional 554,043 shares in the last quarter. Interval Partners LP purchased a new stake in Royal Caribbean Cruises in the first quarter valued at about $32,740,000. Finally, Ariel Investments LLC boosted its holdings in Royal Caribbean Cruises by 56.0% in the first quarter. Ariel Investments LLC now owns 1,022,510 shares of the company’s stock worth $85,666,000 after acquiring an additional 367,253 shares in the last quarter. Hedge funds and other institutional investors own 75.64% of the company’s stock.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, insider Laura H. Bethge sold 3,502 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $86.00, for a total transaction of $301,172.00. Following the sale, the insider now directly owns 22,226 shares of the company’s stock, valued at approximately $1,911,436. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Michael W. Bayley sold 10,000 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $100.02, for a total value of $1,000,200.00. Following the sale, the chief executive officer now owns 102,191 shares of the company’s stock, valued at approximately $10,221,143.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laura H. Bethge sold 3,502 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $86.00, for a total transaction of $301,172.00. Following the completion of the sale, the insider now directly owns 22,226 shares of the company’s stock, valued at approximately $1,911,436. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,502 shares of company stock valued at $2,275,672. Corporate insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RCL shares. Truist Financial upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and upped their price objective for the company from $115.00 to $137.00 in a report on Tuesday, September 19th. Morgan Stanley raised their price target on shares of Royal Caribbean Cruises from $95.00 to $100.00 and gave the stock an “equal weight” rating in a report on Monday, October 30th. Wells Fargo & Company dropped their price objective on shares of Royal Caribbean Cruises from $127.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, October 9th. Barclays cut their target price on Royal Caribbean Cruises from $132.00 to $127.00 and set an “overweight” rating on the stock in a research report on Monday, October 9th. Finally, HSBC began coverage on Royal Caribbean Cruises in a research note on Monday, October 23rd. They set a “buy” rating and a $115.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.00.

Royal Caribbean Cruises Stock Up 1.6 %

Shares of RCL stock opened at $103.69 on Friday. Royal Caribbean Cruises Ltd. has a twelve month low of $47.91 and a twelve month high of $112.95. The stock has a market cap of $26.57 billion, a P/E ratio of 32.40 and a beta of 2.45. The stock has a 50 day moving average of $91.05 and a 200 day moving average of $92.96. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.90.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, October 26th. The company reported $3.85 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.42. Royal Caribbean Cruises had a net margin of 6.98% and a return on equity of 34.59%. The business had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the company earned $0.26 EPS. The business’s revenue was up 39.0% on a year-over-year basis. As a group, sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 6.59 EPS for the current year.

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 13, 2023, it operated 64 ships. The company was founded in 1968 and is headquartered in Miami, Florida.