Tributary Capital Management LLC acquired a new position in Royal Caribbean Group (NYSE:RCL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,750 shares of the company’s stock, valued at approximately $243,000.
Other large investors have also modified their holdings of the company. tru Independence LLC boosted its holdings in Royal Caribbean Group by 400.0% in the second quarter. tru Independence LLC now owns 500 shares of the company’s stock worth $25,000 after purchasing an additional 400 shares in the last quarter. Berman Capital Advisors LLC boosted its holdings in Royal Caribbean Group by 74.5% in the second quarter. Berman Capital Advisors LLC now owns 555 shares of the company’s stock worth $27,000 after purchasing an additional 237 shares in the last quarter. First Command Bank boosted its holdings in Royal Caribbean Group by 211.0% in the second quarter. First Command Bank now owns 622 shares of the company’s stock worth $32,000 after purchasing an additional 422 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Royal Caribbean Group by 65.8% in the second quarter. Orion Portfolio Solutions LLC now owns 668 shares of the company’s stock worth $34,000 after purchasing an additional 265 shares in the last quarter. Finally, CX Institutional boosted its holdings in Royal Caribbean Group by 290.6% in the third quarter. CX Institutional now owns 539 shares of the company’s stock worth $35,000 after purchasing an additional 401 shares in the last quarter. Hedge funds and other institutional investors own 60.43% of the company’s stock.
In related news, major shareholder Wilhelmsen A. S. A sold 600,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 19,887,361 shares of the company’s stock, valued at $1,266,228,274.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 1,400,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 12,151 shares of the company’s stock, valued at approximately $769,887.36. The disclosure for this sale can be found here. Corporate insiders own 13.09% of the company’s stock.
Shares of RCL opened at $59.91 on Thursday. The company has a 50-day simple moving average of $67.36 and a 200-day simple moving average of $52.67. The firm has a market capitalization of $12.86 billion, a P/E ratio of -6.48 and a beta of 2.66. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.96 and a current ratio of 0.99. Royal Caribbean Group has a 52 week low of $19.25 and a 52 week high of $135.32.
Royal Caribbean Group (NYSE:RCL) last announced its quarterly earnings data on Monday, August 10th. The company reported ($6.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($4.82) by ($1.31). Royal Caribbean Group had a negative net margin of 24.36% and a negative return on equity of 3.68%. The company had revenue of $175.80 million for the quarter, compared to analyst estimates of $157.88 million. During the same period in the prior year, the company posted $2.54 EPS. The firm’s quarterly revenue was down 93.7% on a year-over-year basis. As a group, equities analysts forecast that Royal Caribbean Group will post -17 earnings per share for the current year.
A number of equities research analysts recently issued reports on the stock. Credit Suisse Group upped their price objective on shares of Royal Caribbean Group from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Royal Caribbean Group from $36.00 to $40.00 and gave the company a “hold” rating in a report on Tuesday, June 23rd. Morgan Stanley upped their price target on shares of Royal Caribbean Group from $33.00 to $35.00 and gave the company an “underweight” rating in a report on Wednesday, August 12th. Redburn Partners restated a “neutral” rating on shares of Royal Caribbean Group in a report on Monday, June 22nd. Finally, Barclays upgraded shares of Royal Caribbean Group from an “equal weight” rating to an “overweight” rating and set a $68.00 price target for the company in a report on Friday, September 25th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $77.00.
About Royal Caribbean Group
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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