Oppenheimer & Co. Inc. Decreases Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Oppenheimer & Co. Inc. lessened its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCLFree Report) by 22.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,725 shares of the company’s stock after selling 1,625 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Royal Caribbean Cruises were worth $528,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Oppenheimer Asset Management Inc. boosted its position in Royal Caribbean Cruises by 9.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 9,868 shares of the company’s stock valued at $909,000 after acquiring an additional 833 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Royal Caribbean Cruises by 19.2% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 3,571 shares of the company’s stock worth $329,000 after purchasing an additional 574 shares in the last quarter. Prosperity Financial Group Inc. boosted its position in shares of Royal Caribbean Cruises by 6.4% in the 3rd quarter. Prosperity Financial Group Inc. now owns 4,378 shares of the company’s stock worth $403,000 after purchasing an additional 265 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Royal Caribbean Cruises in the 3rd quarter worth $965,000. Finally, Van Hulzen Asset Management LLC boosted its position in shares of Royal Caribbean Cruises by 25.0% in the 3rd quarter. Van Hulzen Asset Management LLC now owns 10,001 shares of the company’s stock worth $921,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 75.64% of the company’s stock.

Royal Caribbean Cruises Stock Performance

NYSE RCL opened at $116.97 on Friday. The stock has a 50-day simple moving average of $123.24 and a two-hundred day simple moving average of $105.94. The firm has a market capitalization of $29.97 billion, a P/E ratio of 18.81, a PEG ratio of 0.46 and a beta of 2.54. Royal Caribbean Cruises Ltd. has a fifty-two week low of $59.37 and a fifty-two week high of $133.77. 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 (NYSE:RCLGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the business posted ($1.12) EPS. The company’s revenue was up 28.0% on a year-over-year basis. On average, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 9.86 earnings per share for the current year.

Insider Activity

In other news, Director Arne Alexander Wilhelmsen sold 284,766 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $121.73, for a total transaction of $34,664,565.18. Following the sale, the director now directly owns 19,167,507 shares in the company, valued at approximately $2,333,260,627.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Harri U. Kulovaara sold 24,707 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $106.90, for a total value of $2,641,178.30. Following the sale, the executive vice president now directly owns 33,650 shares in the company, valued at approximately $3,597,185. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Arne Alexander Wilhelmsen sold 284,766 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $121.73, for a total value of $34,664,565.18. Following the completion of the sale, the director now owns 19,167,507 shares in the company, valued at $2,333,260,627.11. The disclosure for this sale can be found here. Insiders have sold 632,507 shares of company stock worth $76,012,718 in the last ninety days. Company insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RCL. Tigress Financial raised their price objective 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. Argus raised their price objective on Royal Caribbean Cruises from $95.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Truist Financial reissued a “buy” rating and issued a $134.00 price objective on shares of Royal Caribbean Cruises in a research report on Monday, December 4th. Morgan Stanley raised their price objective on Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Citigroup restated a “buy” rating and issued a $127.00 target price on shares of Royal Caribbean Cruises in a research note on Tuesday, November 21st. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and an average price target of $123.86.

Check Out Our Latest Stock Report on RCL

Royal Caribbean Cruises Profile

(Free Report)

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.

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

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