NorthCoast Asset Management LLC Invests $2.52 Million in Royal Caribbean Cruises Ltd (RCL)
NorthCoast Asset Management LLC acquired a new stake in Royal Caribbean Cruises Ltd (NYSE:RCL) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,243 shares of the company’s stock, valued at approximately $2,518,000.
Several other institutional investors have also recently made changes to their positions in the company. LMR Partners LLP acquired a new stake in shares of Royal Caribbean Cruises in the third quarter valued at $1,484,000. Norinchukin Bank The lifted its holdings in shares of Royal Caribbean Cruises by 10.0% in the third quarter. Norinchukin Bank The now owns 12,807 shares of the company’s stock valued at $1,518,000 after buying an additional 1,166 shares during the period. Icon Advisers Inc. Co. lifted its holdings in shares of Royal Caribbean Cruises by 28.4% in the third quarter. Icon Advisers Inc. Co. now owns 53,370 shares of the company’s stock valued at $6,326,000 after buying an additional 11,800 shares during the period. Assetmark Inc. lifted its holdings in shares of Royal Caribbean Cruises by 198.1% in the third quarter. Assetmark Inc. now owns 1,225 shares of the company’s stock valued at $145,000 after buying an additional 814 shares during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Royal Caribbean Cruises in the third quarter valued at $119,000. Institutional investors and hedge funds own 72.23% of the company’s stock.
Several analysts have recently weighed in on RCL shares. Zacks Investment Research upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Friday, September 22nd. Argus upped their target price on Royal Caribbean Cruises from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, October 11th. Berenberg Bank reaffirmed a “buy” rating and set a $135.00 target price on shares of Royal Caribbean Cruises in a report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $134.00 target price on shares of Royal Caribbean Cruises in a report on Thursday, September 7th. Finally, Deutsche Bank AG upped their target price on Royal Caribbean Cruises from $114.00 to $118.00 and gave the company a “hold” rating in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Royal Caribbean Cruises presently has a consensus rating of “Buy” and a consensus target price of $126.33.
Shares of Royal Caribbean Cruises Ltd (RCL) traded down $0.24 during midday trading on Friday, hitting $125.21. The stock had a trading volume of 488,595 shares, compared to its average volume of 1,645,663. Royal Caribbean Cruises Ltd has a twelve month low of $78.77 and a twelve month high of $133.75. The stock has a market capitalization of $26,857.45, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.13 and a current ratio of 0.16.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.06. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.57 billion. Royal Caribbean Cruises had a return on equity of 16.64% and a net margin of 18.41%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $3.20 EPS. research analysts anticipate that Royal Caribbean Cruises Ltd will post 7.39 earnings per share for the current fiscal year.
In related news, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $125.70, for a total value of $2,514,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 60,000 shares of company stock valued at $7,415,000. Company insiders own 15.30% of the company’s stock.
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Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).
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