State of Alaska Department of Revenue cut its position in Royal Caribbean Cruises Ltd. (NYSE:RCL – Get Rating) by 30.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,237 shares of the company's stock after selling 13,870 shares during the period. State of Alaska Department of Revenue's holdings in Royal Caribbean Cruises were worth $1,125,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in RCL. Rockefeller Capital Management L.P. grew its stake in shares of Royal Caribbean Cruises by 14.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,250 shares of the company's stock valued at $403,000 after buying an additional 648 shares during the period. GSA Capital Partners LLP bought a new position in Royal Caribbean Cruises in the 4th quarter valued at about $332,000. ETF Managers Group LLC bought a new position in Royal Caribbean Cruises in the 4th quarter valued at about $280,000. LPL Financial LLC lifted its position in Royal Caribbean Cruises by 17.2% in the 4th quarter. LPL Financial LLC now owns 78,872 shares of the company's stock valued at $6,065,000 after acquiring an additional 11,582 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in Royal Caribbean Cruises by 1.7% in the 4th quarter. Alliancebernstein L.P. now owns 279,305 shares of the company's stock valued at $21,479,000 after acquiring an additional 4,672 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.
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Wall Street Analysts Forecast Growth
RCL has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Royal Caribbean Cruises from $50.00 to $48.00 in a research report on Friday, July 29th. Stifel Nicolaus raised their price target on shares of Royal Caribbean Cruises from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, September 19th. Morgan Stanley decreased their price objective on shares of Royal Caribbean Cruises from $54.00 to $40.00 and set an "underweight" rating for the company in a research note on Friday, July 29th. Barclays increased their price objective on shares of Royal Caribbean Cruises from $55.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday, September 19th. Finally, StockNews.com upgraded shares of Royal Caribbean Cruises to a "sell" rating in a research note on Saturday, August 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $62.00.
Royal Caribbean Cruises Stock Up 3.9 %
Royal Caribbean Cruises stock opened at $45.76 on Wednesday. Royal Caribbean Cruises Ltd. has a twelve month low of $31.09 and a twelve month high of $98.27. The firm has a 50 day moving average price of $41.93 and a 200-day moving average price of $54.00. The company has a market capitalization of $11.67 billion, a P/E ratio of -2.61 and a beta of 2.41. The company has a quick ratio of 0.28, a current ratio of 0.30 and a debt-to-equity ratio of 5.22.
Royal Caribbean Cruises (NYSE:RCL – Get Rating) last released its earnings results on Thursday, July 28th. The company reported ($2.08) earnings per share for the quarter, beating analysts' consensus estimates of ($2.23) by $0.15. Royal Caribbean Cruises had a negative net margin of 95.46% and a negative return on equity of 87.89%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the firm earned ($5.06) EPS. The company's revenue was up 4190.1% compared to the same quarter last year. As a group, equities analysts predict that Royal Caribbean Cruises Ltd. will post -7.03 EPS for the current year.
About Royal Caribbean Cruises
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Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of February 25, 2022, it operated 61 ships.
Further Reading
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