Bridgewater Associates LP Makes New Investment in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Bridgewater Associates LP acquired a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 26,946 shares of the company’s stock, valued at approximately $4,779,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Avestar Capital LLC increased its stake in Royal Caribbean Cruises by 4.8% during the third quarter. Avestar Capital LLC now owns 1,881 shares of the company’s stock worth $334,000 after purchasing an additional 86 shares during the period. Brooklyn Investment Group increased its stake in Royal Caribbean Cruises by 5.0% during the 3rd quarter. Brooklyn Investment Group now owns 2,065 shares of the company’s stock worth $366,000 after buying an additional 99 shares during the period. Wiser Advisor Group LLC lifted its holdings in Royal Caribbean Cruises by 7.3% during the 3rd quarter. Wiser Advisor Group LLC now owns 1,274 shares of the company’s stock worth $226,000 after buying an additional 87 shares in the last quarter. Horizon Kinetics Asset Management LLC lifted its holdings in Royal Caribbean Cruises by 3.0% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 57,881 shares of the company’s stock worth $10,266,000 after buying an additional 1,709 shares in the last quarter. Finally, Prosperity Financial Group Inc. boosted its position in Royal Caribbean Cruises by 9.9% in the 3rd quarter. Prosperity Financial Group Inc. now owns 5,707 shares of the company’s stock valued at $1,012,000 after buying an additional 512 shares during the period. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Activity

In related news, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $237.89, for a total value of $33,150,685.17. Following the sale, the director now directly owns 18,167,507 shares of the company’s stock, valued at approximately $4,321,868,240.23. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 404,332 shares of company stock valued at $94,299,521. Insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL opened at $244.06 on Friday. The stock has a market cap of $65.62 billion, a P/E ratio of 25.08, a P/E/G ratio of 0.64 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a twelve month low of $106.12 and a twelve month high of $245.91. The stock has a 50 day moving average of $208.22 and a two-hundred day moving average of $174.80. 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 released its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating the consensus estimate of $5.05 by $0.15. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. Royal Caribbean Cruises’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.85 EPS. On average, research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on RCL shares. Morgan Stanley upped their price objective on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Truist Financial boosted their price objective on Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group upped their target price on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a research report on Tuesday. They issued an “outperform” rating and a $290.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $224.38.

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.