Morse Asset Management Inc raised its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 3,425 shares of the company’s stock after buying an additional 25 shares during the period. Morse Asset Management Inc’s holdings in Royal Caribbean Cruises were worth $374,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Advisors Preferred LLC acquired a new stake in shares of Royal Caribbean Cruises during the first quarter worth approximately $103,000. NEXT Financial Group Inc raised its stake in shares of Royal Caribbean Cruises by 25.0% in the first quarter. NEXT Financial Group Inc now owns 1,000 shares of the company’s stock worth $107,000 after buying an additional 200 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Royal Caribbean Cruises during the first quarter worth approximately $119,000. Whittier Trust Co. raised its stake in shares of Royal Caribbean Cruises by 24.4% in the first quarter. Whittier Trust Co. now owns 1,266 shares of the company’s stock worth $124,000 after buying an additional 248 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Royal Caribbean Cruises by 447.1% in the first quarter. Acadian Asset Management LLC now owns 1,778 shares of the company’s stock worth $174,000 after buying an additional 1,453 shares in the last quarter. 71.67% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Ltd. (NYSE:RCL) opened at 120.49 on Thursday. The firm has a market capitalization of $25.92 billion, a P/E ratio of 16.90 and a beta of 1.06. The company has a 50 day moving average of $112.98 and a 200 day moving average of $103.94. Royal Caribbean Cruises Ltd. has a 1-year low of $65.10 and a 1-year high of $121.47.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.04. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the business posted $1.09 EPS. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post $7.43 earnings per share for the current year.

Royal Caribbean Cruises announced that its Board of Directors has initiated a share buyback plan on Friday, April 28th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

ILLEGAL ACTIVITY WARNING: “Morse Asset Management Inc Boosts Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)” was first posted by Daily Political and is owned by of Daily Political. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://www.dailypolitical.com/2017/08/10/morse-asset-management-inc-boosts-stake-in-royal-caribbean-cruises-ltd-nysercl.html.

Several analysts have issued reports on the stock. ValuEngine raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a research report on Tuesday, May 30th. Stifel Nicolaus upped their price target on shares of Royal Caribbean Cruises from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. BidaskClub lowered shares of Royal Caribbean Cruises from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Nomura upped their price target on shares of Royal Caribbean Cruises from $131.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $117.23.

In related news, CEO Lawrence R. Pimentel sold 17,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $120.50, for a total value of $2,048,500.00. Following the sale, the chief executive officer now directly owns 20,045 shares in the company, valued at approximately $2,415,422.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bernt Reitan sold 4,793 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $117.22, for a total value of $561,835.46. Following the completion of the sale, the director now owns 7,862 shares in the company, valued at $921,583.64. The disclosure for this sale can be found here. Insiders sold a total of 452,499 shares of company stock worth $52,583,811 over the last 90 days. 15.30% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).

Want to see what other hedge funds are holding RCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Caribbean Cruises Ltd. (NYSE:RCL).

Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

Receive News & Ratings for Royal Caribbean Cruises Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Caribbean Cruises Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.