Bessemer Group Inc. boosted its stake in Royal Caribbean Cruises Ltd (NYSE:RCL) by 1,228.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 996 shares of the company’s stock after purchasing an additional 921 shares during the quarter. Bessemer Group Inc.’s holdings in Royal Caribbean Cruises were worth $121,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Synovus Financial Corp raised its holdings in Royal Caribbean Cruises by 12.6% in the first quarter. Synovus Financial Corp now owns 4,061 shares of the company’s stock valued at $467,000 after acquiring an additional 453 shares in the last quarter. First Allied Advisory Services Inc. raised its holdings in Royal Caribbean Cruises by 41.7% in the fourth quarter. First Allied Advisory Services Inc. now owns 2,224 shares of the company’s stock valued at $214,000 after acquiring an additional 654 shares in the last quarter. BB&T Corp raised its holdings in Royal Caribbean Cruises by 4.1% in the first quarter. BB&T Corp now owns 68,148 shares of the company’s stock valued at $7,812,000 after acquiring an additional 2,678 shares in the last quarter. Perella Weinberg Partners Capital Management LP acquired a new stake in Royal Caribbean Cruises in the first quarter valued at $8,886,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Royal Caribbean Cruises by 0.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 27,666 shares of the company’s stock valued at $3,171,000 after acquiring an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 72.72% of the company’s stock.
Several analysts recently issued reports on the stock. Wedbush reaffirmed an “underweight” rating and issued a $145.00 price target (up from $140.00) on shares of Royal Caribbean Cruises in a report on Thursday, May 2nd. They noted that the move was a valuation call. Citigroup increased their target price on shares of Royal Caribbean Cruises from $138.00 to $154.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Buckingham Research increased their target price on shares of Royal Caribbean Cruises from $148.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Nomura dropped their target price on shares of Royal Caribbean Cruises from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Finally, Stifel Nicolaus increased their target price on shares of Royal Caribbean Cruises from $150.00 to $151.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $142.50.
Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, July 25th. The company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.79 billion. Royal Caribbean Cruises had a net margin of 17.82% and a return on equity of 17.39%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.27 earnings per share. As a group, sell-side analysts forecast that Royal Caribbean Cruises Ltd will post 9.67 earnings per share for the current year.
In other news, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $108.46, for a total transaction of $2,169,200.00. Following the completion of the transaction, the chief executive officer now owns 905,651 shares in the company, valued at $98,226,907.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.07% of the stock is currently owned by corporate insiders.
Royal Caribbean Cruises Profile
Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 23 nights.
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