Bank of Nova Scotia Reduces Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Bank of Nova Scotia cut its stake in Royal Caribbean Cruises Ltd. (NYSE:RCLGet Rating) by 75.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,649 shares of the company’s stock after selling 57,621 shares during the quarter. Bank of Nova Scotia’s holdings in Royal Caribbean Cruises were worth $651,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Bogart Wealth LLC lifted its holdings in Royal Caribbean Cruises by 87.3% in the second quarter. Bogart Wealth LLC now owns 708 shares of the company’s stock valued at $25,000 after acquiring an additional 330 shares during the period. Tcwp LLC purchased a new position in shares of Royal Caribbean Cruises in the first quarter worth approximately $37,000. PSI Advisors LLC grew its position in Royal Caribbean Cruises by 56.3% during the second quarter. PSI Advisors LLC now owns 1,250 shares of the company’s stock valued at $44,000 after buying an additional 450 shares during the period. Venture Visionary Partners LLC purchased a new stake in Royal Caribbean Cruises during the second quarter valued at approximately $50,000. Finally, Allworth Financial LP raised its position in Royal Caribbean Cruises by 34.3% in the second quarter. Allworth Financial LP now owns 1,640 shares of the company’s stock worth $57,000 after acquiring an additional 419 shares during the period. 67.41% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL opened at $58.69 on Monday. The company has a market cap of $14.98 billion, a P/E ratio of -4.96 and a beta of 2.40. Royal Caribbean Cruises Ltd. has a 52-week low of $31.09 and a 52-week high of $90.55. The company has a debt-to-equity ratio of 6.05, a quick ratio of 0.27 and a current ratio of 0.29. The firm’s fifty day moving average is $49.12 and its two-hundred day moving average is $45.90.

Analyst Ratings Changes

Several research firms have recently commented on RCL. Susquehanna reduced their price objective on Royal Caribbean Cruises from $70.00 to $50.00 in a research note on Friday, July 29th. StockNews.com raised Royal Caribbean Cruises to a “sell” rating in a research note on Friday, November 4th. Credit Suisse Group lowered their price objective on Royal Caribbean Cruises from $135.00 to $117.00 and set an “outperform” rating on the stock in a research report on Friday, November 4th. Stifel Nicolaus increased their target price on shares of Royal Caribbean Cruises from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, September 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Royal Caribbean Cruises from $50.00 to $48.00 in a report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average target price of $69.08.

Royal Caribbean Cruises Company Profile

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Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of February 25, 2022, it operated 61 ships.

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

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