National Asset Management Inc. lowered its stake in Royal Caribbean Group (NYSE:RCL) by 2.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,889 shares of the company’s stock after selling 204 shares during the period. National Asset Management Inc.’s holdings in Royal Caribbean Group were worth $445,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. tru Independence LLC boosted its holdings in shares of Royal Caribbean Group by 400.0% in the 2nd quarter. tru Independence LLC now owns 500 shares of the company’s stock valued at $25,000 after buying an additional 400 shares during the period. Berman Capital Advisors LLC boosted its holdings in shares of Royal Caribbean Group by 74.5% in the 2nd quarter. Berman Capital Advisors LLC now owns 555 shares of the company’s stock valued at $27,000 after buying an additional 237 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of Royal Caribbean Group by 65.8% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 668 shares of the company’s stock valued at $34,000 after buying an additional 265 shares during the period. CX Institutional boosted its holdings in shares of Royal Caribbean Group by 290.6% in the 3rd quarter. CX Institutional now owns 539 shares of the company’s stock valued at $35,000 after buying an additional 401 shares during the period. Finally, Hall Laurie J Trustee acquired a new position in shares of Royal Caribbean Group in the 3rd quarter valued at about $42,000. 60.43% of the stock is owned by institutional investors.
In related news, major shareholder Wilhelmsen A. S. A sold 600,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $63.67, for a total value of $38,202,000.00. Following the sale, the insider now directly owns 19,887,361 shares in the company, valued at approximately $1,266,228,274.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 1,400,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $63.36, for a total transaction of $88,704,000.00. Following the completion of the sale, the director now owns 12,151 shares in the company, valued at $769,887.36. The disclosure for this sale can be found here. 13.09% of the stock is owned by insiders.
Royal Caribbean Group (NYSE:RCL) last released its earnings results on Thursday, October 29th. The company reported ($5.62) EPS for the quarter, missing analysts’ consensus estimates of ($4.92) by ($0.70). Royal Caribbean Group had a negative return on equity of 3.68% and a negative net margin of 24.36%. The business had revenue of ($33.69) million during the quarter, compared to the consensus estimate of $8.71 million. During the same quarter in the previous year, the firm earned $4.27 earnings per share. The firm’s revenue for the quarter was down 101.1% compared to the same quarter last year. On average, analysts anticipate that Royal Caribbean Group will post -17.25 earnings per share for the current year.
Several research analysts have recently commented on RCL shares. ValuEngine raised shares of Royal Caribbean Group from a “buy” rating to a “strong-buy” rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Royal Caribbean Group from $43.00 to $46.00 and gave the company a “hold” rating in a report on Friday, October 30th. Zacks Investment Research lowered shares of Royal Caribbean Group from a “hold” rating to a “sell” rating and set a $62.00 price target for the company. in a report on Tuesday, October 20th. Morgan Stanley boosted their target price on shares of Royal Caribbean Group from $33.00 to $35.00 and gave the company an “underweight” rating in a research note on Wednesday, August 12th. Finally, Barclays raised shares of Royal Caribbean Group from an “equal weight” rating to an “overweight” rating and set a $68.00 target price for the company in a research note on Friday, September 25th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $69.67.
Royal Caribbean Group Company Profile
Royal Caribbean Group operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea 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 19 nights.
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