Ipswich Investment Management Co. Inc. Purchases 70 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Ipswich Investment Management Co. Inc. boosted its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,201 shares of the company’s stock after acquiring an additional 70 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Royal Caribbean Cruises were worth $390,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RCL. Wedge Capital Management L L P NC lifted its stake in shares of Royal Caribbean Cruises by 2.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock valued at $51,349,000 after buying an additional 7,298 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Royal Caribbean Cruises by 17.2% in the second quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock worth $6,156,000 after acquiring an additional 5,655 shares during the period. Souders Financial Advisors purchased a new position in shares of Royal Caribbean Cruises in the third quarter valued at $800,000. New Wave Wealth Advisors LLC bought a new stake in shares of Royal Caribbean Cruises during the 2nd quarter valued at $611,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Royal Caribbean Cruises by 8.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,575 shares of the company’s stock worth $6,310,000 after purchasing an additional 2,640 shares in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Royal Caribbean Cruises

In other news, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the sale, the chief accounting officer now owns 9,964 shares in the company, valued at approximately $2,077,593.64. The trade was a 40.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now directly owns 27,388 shares in the company, valued at $4,620,629.48. This represents a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,796 shares of company stock valued at $7,170,759. Corporate insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Stock Down 0.7 %

Shares of NYSE RCL opened at $231.49 on Friday. The firm has a fifty day simple moving average of $193.66 and a two-hundred day simple moving average of $167.91. Royal Caribbean Cruises Ltd. has a 12 month low of $101.04 and a 12 month high of $238.10. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The firm has a market capitalization of $62.24 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 0.62 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The company 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 was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.85 earnings per share. Equities analysts expect that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RCL shares. Stifel Nicolaus upped their price target on Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Susquehanna increased their target price on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Tuesday, July 30th. Mizuho boosted their price target on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Morgan Stanley increased 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. Finally, Truist Financial boosted their target price 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. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Royal Caribbean Cruises has an average rating of “Moderate Buy” and an average target price of $220.00.

Royal Caribbean Cruises 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.