MetLife Investment Management LLC Sells 1,641 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

MetLife Investment Management LLC trimmed its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 65,326 shares of the company’s stock after selling 1,641 shares during the quarter. MetLife Investment Management LLC’s holdings in Royal Caribbean Cruises were worth $11,586,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Macquarie raised their price target on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their target price on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. 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. Morgan Stanley increased their price objective 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average target price of $224.38.

Royal Caribbean Cruises Price Performance

Shares of RCL opened at $241.62 on Friday. Royal Caribbean Cruises Ltd. has a twelve month low of $105.36 and a twelve month high of $245.91. The company has a market capitalization of $64.97 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 0.64 and a beta of 2.59. The firm has a 50 day moving average of $206.82 and a 200 day moving average of $174.08. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping 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 analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the business earned $3.85 earnings per share. The company’s revenue was up 17.5% on a year-over-year basis. As a group, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, EVP Harri U. Kulovaara sold 3,256 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the sale, the executive vice president now directly owns 22,348 shares in the company, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the completion of the transaction, the chief accounting officer now owns 9,964 shares in the company, valued at $2,077,593.64. The trade was a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 404,332 shares of company stock worth $94,299,521. Insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Company 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.