Nomura Asset Management Co. Ltd. boosted its position in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) by 7.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,436 shares of the company’s stock after buying an additional 1,758 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Royal Caribbean Cruises were worth $2,739,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Advisors Preferred LLC bought a new position in shares of Royal Caribbean Cruises in the first quarter worth about $110,000. First Mercantile Trust Co. bought a new position in shares of Royal Caribbean Cruises in the second quarter worth about $145,000. Squar Milner Financial Services LLC bought a new position in shares of Royal Caribbean Cruises in the second quarter worth about $164,000. NEXT Financial Group Inc bought a new position in shares of Royal Caribbean Cruises in the first quarter worth about $214,000. Finally, Delpha Capital Management LLC bought a new position in shares of Royal Caribbean Cruises in the first quarter worth about $228,000. Hedge funds and other institutional investors own 70.20% of the company’s stock.

A number of research analysts have recently commented on RCL shares. Morgan Stanley dropped their target price on shares of Royal Caribbean Cruises from $130.00 to $110.00 and set an “equal weight” rating for the company in a report on Tuesday, June 5th. JPMorgan Chase & Co. increased their target price on shares of Royal Caribbean Cruises from $150.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, June 15th. Stifel Nicolaus dropped their target price on shares of Royal Caribbean Cruises from $153.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, July 24th. ValuEngine cut shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a report on Monday, May 7th. Finally, Zacks Investment Research cut shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Wednesday, April 25th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $137.20.

In related news, CEO Richard D. Fain sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $108.22, for a total value of $2,164,400.00. Following the completion of the transaction, the chief executive officer now owns 859,337 shares in the company, valued at approximately $92,997,450.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 15.26% of the stock is owned by company insiders.

Shares of NYSE RCL opened at $115.72 on Friday. The company has a market capitalization of $23.75 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 0.80 and a beta of 1.17. Royal Caribbean Cruises Ltd has a 1 year low of $101.20 and a 1 year high of $135.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.20 and a quick ratio of 0.18.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.30. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.34 billion. Royal Caribbean Cruises had a net margin of 19.31% and a return on equity of 16.50%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned $1.71 EPS. analysts forecast that Royal Caribbean Cruises Ltd will post 8.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 9th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Azamara Club 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 23 nights.

Read More: What is a Leveraged Buyout (LBO)?

Want to see what other hedge funds are holding RCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Caribbean Cruises Ltd (NYSE:RCL).

Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

Receive News & Ratings for Royal Caribbean Cruises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Caribbean Cruises and related companies with MarketBeat.com's FREE daily email newsletter.