Royal Caribbean Cruises Ltd (RCL) Shares Bought by Global Financial Private Capital LLC
Global Financial Private Capital LLC raised its stake in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) by 12.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,958 shares of the company’s stock after purchasing an additional 2,695 shares during the period. Global Financial Private Capital LLC’s holdings in Royal Caribbean Cruises were worth $2,586,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. KBC Group NV increased its position in shares of Royal Caribbean Cruises by 17.0% in the second quarter. KBC Group NV now owns 123,605 shares of the company’s stock worth $12,806,000 after acquiring an additional 17,924 shares in the last quarter. Alps Advisors Inc. acquired a new stake in shares of Royal Caribbean Cruises in the second quarter worth $531,000. Sigma Planning Corp acquired a new stake in shares of Royal Caribbean Cruises in the second quarter worth $228,000. Apertura Capital LLC acquired a new stake in shares of Royal Caribbean Cruises in the second quarter worth $16,058,000. Finally, Wright Investors Service Inc. acquired a new stake in shares of Royal Caribbean Cruises in the second quarter worth $204,000. 69.66% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on RCL shares. Zacks Investment Research raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Wednesday. Stifel Nicolaus reissued a “buy” rating on shares of Royal Caribbean Cruises in a research report on Thursday, April 19th. Morgan Stanley dropped their price objective on shares of Royal Caribbean Cruises from $130.00 to $110.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 5th. ValuEngine raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Finally, Barclays started coverage on shares of Royal Caribbean Cruises in a research report on Friday, August 3rd. They issued an “overweight” rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $137.29.
Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Thursday, August 2nd. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.30. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.34 billion. Royal Caribbean Cruises had a net margin of 19.31% and a return on equity of 16.50%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.71 earnings per share. research analysts predict that Royal Caribbean Cruises Ltd will post 8.9 EPS for the current year.
Royal Caribbean Cruises declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 9th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other news, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $108.22, for a total value of $2,164,400.00. Following the completion of the transaction, the chief executive officer now directly owns 859,337 shares in the company, valued at $92,997,450.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.26% of the stock is currently owned by corporate insiders.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Azamara Club 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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