NGAM Advisors L.P. raised its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.1% during the second quarter, Holdings Channel reports. The firm owned 22,649 shares of the company’s stock after buying an additional 471 shares during the period. NGAM Advisors L.P.’s holdings in Royal Caribbean Cruises were worth $2,474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prudential Financial Inc. boosted its position in shares of Royal Caribbean Cruises by 17.8% in the first quarter. Prudential Financial Inc. now owns 477,787 shares of the company’s stock worth $46,875,000 after buying an additional 72,120 shares during the period. Dynamic Capital Management Ltd boosted its position in shares of Royal Caribbean Cruises by 55.5% in the first quarter. Dynamic Capital Management Ltd now owns 35,502 shares of the company’s stock worth $3,483,000 after buying an additional 12,675 shares during the period. Bank of The West boosted its position in shares of Royal Caribbean Cruises by 0.7% in the first quarter. Bank of The West now owns 34,275 shares of the company’s stock worth $3,363,000 after buying an additional 222 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Royal Caribbean Cruises during the first quarter worth $1,108,000. Finally, British Columbia Investment Management Corp boosted its position in shares of Royal Caribbean Cruises by 40.9% in the first quarter. British Columbia Investment Management Corp now owns 146,986 shares of the company’s stock worth $14,421,000 after buying an additional 42,656 shares during the period. Hedge funds and other institutional investors own 71.67% of the company’s stock.

Shares of Royal Caribbean Cruises Ltd. (RCL) opened at 117.22 on Friday. The stock has a market cap of $25.22 billion, a P/E ratio of 16.45 and a beta of 1.06. Royal Caribbean Cruises Ltd. has a 12 month low of $65.10 and a 12 month high of $121.47. The stock’s 50 day moving average is $113.22 and its 200 day moving average is $104.26.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 EPS. Analysts predict that Royal Caribbean Cruises Ltd. will post $7.44 earnings per share for the current fiscal year.

Royal Caribbean Cruises declared that its board has approved a stock buyback plan on Friday, April 28th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 2.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

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A number of research analysts recently weighed in on RCL shares. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a report on Wednesday, June 7th. ValuEngine upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Goldman Sachs Group, Inc. (The) lifted their price objective on shares of Royal Caribbean Cruises from $90.00 to $94.00 and gave the company a “sell” rating in a report on Monday, May 1st. Deutsche Bank AG lifted their price objective on shares of Royal Caribbean Cruises from $102.00 to $114.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Finally, Wedbush lifted their price objective on shares of Royal Caribbean Cruises from $106.00 to $117.00 and gave the company an “outperform” rating in a report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Royal Caribbean Cruises currently has an average rating of “Buy” and an average target price of $117.23.

In other news, CEO Lawrence R. Pimentel sold 17,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $120.50, for a total transaction of $2,048,500.00. Following the completion of the transaction, the chief executive officer now directly owns 20,045 shares in the company, valued at approximately $2,415,422.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $107.77, for a total value of $2,155,400.00. Following the transaction, the chief executive officer now owns 1,007,741 shares of the company’s stock, valued at $108,604,247.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 452,499 shares of company stock valued at $52,583,811. Company insiders own 15.30% of the company’s stock.

About Royal Caribbean Cruises

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).

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

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