Okabena Investment Services Inc. Invests $602,000 in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Okabena Investment Services Inc. purchased a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,392 shares of the company’s stock, valued at approximately $602,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RCL. Cerity Partners LLC boosted its stake in shares of Royal Caribbean Cruises by 48.7% in the 3rd quarter. Cerity Partners LLC now owns 31,812 shares of the company’s stock valued at $5,642,000 after purchasing an additional 10,412 shares during the last quarter. Raymond James Trust N.A. acquired a new position in Royal Caribbean Cruises in the third quarter valued at approximately $202,000. Banco Santander S.A. bought a new position in Royal Caribbean Cruises in the third quarter valued at approximately $375,000. Trustmark National Bank Trust Department bought a new position in Royal Caribbean Cruises in the third quarter valued at approximately $202,000. Finally, Moors & Cabot Inc. grew its holdings in Royal Caribbean Cruises by 2.0% during the 3rd quarter. Moors & Cabot Inc. now owns 5,154 shares of the company’s stock worth $914,000 after acquiring an additional 103 shares during the period. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Macquarie raised their target price on Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup upped their price target on Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays lifted their price objective on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their target price on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.00.

Insider Activity

In other news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total value of $53,732,600.00. Following the completion of the transaction, the director now owns 18,556,860 shares in the company, valued at $4,335,253,633.20. This trade represents a 1.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard D. Fain sold 25,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the sale, the director now owns 204,521 shares in the company, valued at $42,953,500.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 407,405 shares of company stock worth $94,817,966 over the last ninety days. Insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Price Performance

RCL stock opened at $241.49 on Friday. The stock has a 50-day moving average price of $201.02 and a two-hundred day moving average price of $171.49. Royal Caribbean Cruises Ltd. has a 1 year low of $103.61 and a 1 year high of $242.20. The stock has a market cap of $64.93 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 0.63 and a beta of 2.59. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. Royal Caribbean Cruises’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the company earned $3.85 earnings per share. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post 11.64 EPS for the current fiscal 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 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.