Eastern Bank Purchases Shares of 1,082 Royal Caribbean Cruises Ltd. (NYSE:RCL)

Eastern Bank acquired a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,082 shares of the company’s stock, valued at approximately $192,000.

Other hedge funds have also modified their holdings of the company. Unique Wealth Strategies LLC purchased a new position in Royal Caribbean Cruises during the second quarter worth approximately $27,000. Versant Capital Management Inc raised its position in shares of Royal Caribbean Cruises by 905.3% in the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after buying 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 valued at $30,000 after acquiring an additional 121 shares during the last quarter. AlphaMark Advisors LLC grew its position in Royal Caribbean Cruises by 233.3% during the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the period. Finally, Meeder Asset Management Inc. increased its stake in Royal Caribbean Cruises by 50.3% during the second quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $37,000 after acquiring an additional 78 shares during the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group boosted their target price on Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Susquehanna boosted their price objective on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group raised their target price on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Macquarie upped their price target on shares of Royal Caribbean Cruises from $165.00 to $189.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley raised their price objective on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $197.27.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL opened at $203.05 on Friday. The stock has a market capitalization of $52.25 billion, a P/E ratio of 22.14, a P/E/G ratio of 0.58 and a beta of 2.61. The firm’s 50-day moving average price is $174.69 and its two-hundred day moving average price is $158.15. Royal Caribbean Cruises Ltd. has a 52-week low of $78.35 and a 52-week high of $204.37. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter last year, the business posted $1.82 EPS. The business’s revenue was up 16.4% on a year-over-year basis. As a group, sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 11.61 earnings per share for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now directly owns 27,388 shares in the company, valued at approximately $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total value of $919,300.00. Following the completion of the sale, the director now owns 25,837 shares in the company, valued at approximately $4,095,164.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.95% of the stock is currently owned by company insiders.

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.