Forest Avenue Capital Management LP Purchases 6,140 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Forest Avenue Capital Management LP boosted its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.8% in the third quarter, HoldingsChannel.com reports. The fund owned 225,911 shares of the company’s stock after acquiring an additional 6,140 shares during the quarter. Royal Caribbean Cruises comprises about 4.9% of Forest Avenue Capital Management LP’s portfolio, making the stock its 9th largest holding. Forest Avenue Capital Management LP’s holdings in Royal Caribbean Cruises were worth $40,068,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Plato Investment Management Ltd purchased a new position in shares of Royal Caribbean Cruises in the third quarter worth about $26,000. Unique Wealth Strategies LLC acquired a new position in Royal Caribbean Cruises in the 2nd quarter worth approximately $27,000. Versant Capital Management Inc raised its position in Royal Caribbean Cruises by 905.3% during the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after buying an additional 172 shares during the last quarter. DiNuzzo Private Wealth Inc. lifted its stake in Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after acquiring an additional 121 shares during the period. Finally, AlphaMark Advisors LLC boosted its holdings in shares of Royal Caribbean Cruises by 233.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

NYSE:RCL opened at $244.50 on Wednesday. The firm has a market cap of $65.74 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 0.63 and a beta of 2.59. The stock has a 50 day moving average of $203.96 and a two-hundred day moving average of $173.13. Royal Caribbean Cruises Ltd. has a 12 month low of $103.99 and a 12 month high of $245.91. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the company earned $3.85 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. On average, analysts expect that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citigroup raised their target price on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group boosted their price objective on Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Morgan Stanley raised their target price on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Barclays lifted their price target on Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $224.38.

Insider Activity

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of Royal Caribbean Cruises stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the transaction, the director now owns 18,167,507 shares in the company, valued at $4,321,868,240.23. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. This represents a 10.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 407,405 shares of company stock worth $94,817,966 over the last three months. Insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Profile

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.