Connor Clark & Lunn Investment Management Ltd. Purchases 155,608 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL – Get Rating) by 1,088.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 169,906 shares of the company’s stock after buying an additional 155,608 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Royal Caribbean Cruises were worth $8,398,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RCL. Capital World Investors lifted its holdings in shares of Royal Caribbean Cruises by 1,314.9% during the 1st quarter. Capital World Investors now owns 2,759,035 shares of the company’s stock worth $231,152,000 after acquiring an additional 2,564,035 shares during the period. Primecap Management Co. CA lifted its stake in Royal Caribbean Cruises by 29.8% in the 3rd quarter. Primecap Management Co. CA now owns 6,776,061 shares of the company’s stock valued at $256,813,000 after purchasing an additional 1,554,600 shares during the last quarter. Absolute Investment Advisers LLC bought a new position in Royal Caribbean Cruises in the 4th quarter valued at approximately $980,000,000. Channing Capital Management LLC bought a new position in Royal Caribbean Cruises in the 3rd quarter valued at approximately $16,431,000. Finally, Ariel Investments LLC lifted its stake in Royal Caribbean Cruises by 56.0% in the 1st quarter. Ariel Investments LLC now owns 1,022,510 shares of the company’s stock valued at $85,666,000 after purchasing an additional 367,253 shares during the last quarter. Institutional investors own 74.27% of the company’s stock.

Royal Caribbean Cruises Stock Up 0.8 %

NYSE:RCL opened at $77.90 on Friday. The company has a debt-to-equity ratio of 6.41, a quick ratio of 0.23 and a current ratio of 0.26. The firm has a fifty day simple moving average of $67.53 and a two-hundred day simple moving average of $63.85. Royal Caribbean Cruises Ltd. has a 12 month low of $31.09 and a 12 month high of $81.16.

Royal Caribbean Cruises (NYSE:RCL – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.48. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Royal Caribbean Cruises had a negative net margin of 9.72% and a negative return on equity of 25.86%. The business’s quarterly revenue was up 172.4% on a year-over-year basis. During the same period last year, the company posted ($4.57) earnings per share. As a group, sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 4.72 earnings per share for the current year.

Insider Activity

In related news, CEO Jason T. Liberty sold 36,536 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total transaction of $2,922,880.00. Following the transaction, the chief executive officer now directly owns 147,078 shares of the company’s stock, valued at $11,766,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jason T. Liberty sold 36,536 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total transaction of $2,922,880.00. Following the transaction, the chief executive officer now directly owns 147,078 shares of the company’s stock, valued at $11,766,240. 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 375,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $80.74, for a total transaction of $30,277,500.00. Following the transaction, the director now directly owns 20,689,632 shares in the company, valued at $1,670,480,887.68. The disclosure for this sale can be found here. Corporate insiders own 8.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on RCL. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Royal Caribbean Cruises from $65.00 to $71.00 in a research note on Friday, May 5th. StockNews.com started coverage on shares of Royal Caribbean Cruises in a research note on Thursday, May 18th. They set a “hold” rating for the company. William Blair reaffirmed an “outperform” rating on shares of Royal Caribbean Cruises in a research note on Thursday, May 4th. Barclays increased their price objective on shares of Royal Caribbean Cruises from $88.00 to $100.00 in a research report on Friday, May 5th. Finally, Argus upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Tuesday, May 16th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.14.

Royal Caribbean Cruises Profile

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Royal Caribbean Group is a cruise company, which engages in the ownership and operation of the following global cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. The firm also holds interest in TUI Cruises GmbH, which operates the German brands TUI Cruises and Hapag-Lloyd Cruises.