Legacy Financial Advisors Inc. Invests $243,000 in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Legacy Financial Advisors Inc. bought a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the 4th quarter, HoldingsChannel reports. The fund bought 1,876 shares of the company’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Royal Caribbean Cruises by 2.0% during the third quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock valued at $2,295,891,000 after acquiring an additional 487,327 shares in the last quarter. Jupiter Asset Management Ltd. grew its position in shares of Royal Caribbean Cruises by 476.1% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 470,816 shares of the company’s stock worth $43,381,000 after buying an additional 389,095 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Royal Caribbean Cruises by 484.7% during the third quarter. Retirement Systems of Alabama now owns 292,289 shares of the company’s stock valued at $26,932,000 after buying an additional 242,302 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Royal Caribbean Cruises by 1,188.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 242,113 shares of the company’s stock valued at $31,351,000 after acquiring an additional 223,323 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Royal Caribbean Cruises in the fourth quarter worth about $25,487,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Wells Fargo & Company increased their target price on Royal Caribbean Cruises from $153.00 to $159.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Bank of America boosted their price target on Royal Caribbean Cruises from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday. Stifel Nicolaus boosted their target price on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $141.71.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock traded up $0.83 during mid-day trading on Friday, reaching $138.21. The stock had a trading volume of 2,091,140 shares, compared to its average volume of 3,018,203. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54. Royal Caribbean Cruises Ltd. has a 1-year low of $70.58 and a 1-year high of $143.62. The firm has a market cap of $35.57 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 0.45 and a beta of 2.49. The business’s fifty day moving average is $132.31 and its 200-day moving average is $119.25.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.33 by $0.44. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the firm earned ($0.23) EPS. The business’s revenue for the quarter was up 29.2% on a year-over-year basis. On average, research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.15 earnings per share for the current year.

Insider Activity

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 9,944 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total value of $1,404,391.12. Following the sale, the chief accounting officer now owns 16,687 shares in the company, valued at approximately $2,356,705.01. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the transaction, the chief executive officer now owns 153,017 shares in the company, valued at $21,365,763.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Henry L. Pujol sold 9,944 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total value of $1,404,391.12. Following the completion of the sale, the chief accounting officer now owns 16,687 shares of the company’s stock, valued at $2,356,705.01. The disclosure for this sale can be found here. Insiders sold a total of 71,697 shares of company stock valued at $9,749,357 in the last quarter. 8.70% of the stock is currently owned by company insiders.

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.