Harvest Portfolios Group Inc. Sells 3,399 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Harvest Portfolios Group Inc. cut its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 8.8% during the 3rd quarter, HoldingsChannel reports. 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Unique Wealth Strategies LLC purchased a new stake in shares of 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 period. DiNuzzo Private Wealth Inc. boosted its holdings in Royal Caribbean Cruises by 257.4% in the third 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 last quarter. AlphaMark Advisors LLC grew its position in Royal Caribbean Cruises by 233.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in 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 during the last quarter. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Stock Up 3.7 %

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

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data 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. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.85 earnings per share. On average, sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total value of $1,401,812.73. Following the transaction, the chief accounting officer now owns 9,964 shares of the company’s stock, valued at approximately $2,077,593.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the completion of the transaction, the director now owns 25,837 shares in the company, valued at $4,095,164.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the completion of the sale, the chief accounting officer now owns 9,964 shares in the company, valued at $2,077,593.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,596 shares of company stock worth $8,090,059 in the last three months. 7.95% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. Mizuho boosted their price target on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays upped their price target on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Susquehanna raised their price objective on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Finally, UBS Group upped their target price on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.