Harvest Portfolios Group Inc. Sells 4,948 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Harvest Portfolios Group Inc. decreased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 9.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,276 shares of the company’s stock after selling 4,948 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Royal Caribbean Cruises were worth $3,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in RCL. Manchester Capital Management LLC bought a new position in Royal Caribbean Cruises in the 1st quarter valued at $25,000. Barrett & Company Inc. purchased a new stake in shares of Royal Caribbean Cruises in the 1st quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Royal Caribbean Cruises in the 1st quarter worth $36,000. BDO Wealth Advisors LLC lifted its holdings in shares of Royal Caribbean Cruises by 74.0% in the 1st quarter. BDO Wealth Advisors LLC now owns 588 shares of the company’s stock worth $38,000 after buying an additional 250 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Royal Caribbean Cruises by 42.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 613 shares of the company’s stock worth $40,000 after buying an additional 182 shares during the period. Institutional investors own 75.64% of the company’s stock.

Analyst Ratings Changes

RCL has been the subject of a number of analyst reports. Barclays upped their price objective on Royal Caribbean Cruises from $113.00 to $132.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. StockNews.com assumed coverage on Royal Caribbean Cruises in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Bank of America increased their price objective on Royal Caribbean Cruises from $82.00 to $95.00 in a report on Monday, June 12th. VNET Group reissued a “maintains” rating on shares of Royal Caribbean Cruises in a report on Monday, June 12th. Finally, Susquehanna increased their price objective on Royal Caribbean Cruises from $85.00 to $127.00 and gave the company a “positive” rating in a report on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $109.92.

Royal Caribbean Cruises Price Performance

RCL stock opened at $97.35 on Thursday. The business has a fifty day moving average of $101.38 and a two-hundred day moving average of $84.84. The company has a quick ratio of 0.18, a current ratio of 0.20 and a debt-to-equity ratio of 5.28. The stock has a market cap of $24.94 billion, a price-to-earnings ratio of -304.22 and a beta of 2.47. Royal Caribbean Cruises Ltd. has a 52-week low of $36.92 and a 52-week high of $112.95.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, July 27th. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.24. Royal Caribbean Cruises had a positive return on equity of 6.76% and a negative net margin of 0.47%. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.41 billion. During the same period in the previous year, the firm posted ($2.08) earnings per share. The company’s revenue was up 61.3% on a year-over-year basis. As a group, research analysts anticipate that Royal Caribbean Cruises Ltd. will post 6.22 earnings per share for the current year.

Insider Activity at Royal Caribbean Cruises

In related news, CFO Naftali Holtz sold 5,949 shares of Royal Caribbean Cruises stock in a transaction on Friday, July 28th. The stock was sold at an average price of $110.62, for a total value of $658,078.38. Following the completion of the transaction, the chief financial officer now directly owns 30,967 shares in the company, valued at $3,425,569.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 10,000 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $100.02, for a total transaction of $1,000,200.00. Following the completion of the sale, the chief executive officer now directly owns 102,191 shares of the company’s stock, valued at approximately $10,221,143.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Naftali Holtz sold 5,949 shares of Royal Caribbean Cruises stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $110.62, for a total value of $658,078.38. Following the sale, the chief financial officer now directly owns 30,967 shares of the company’s stock, valued at $3,425,569.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,857 shares of company stock worth $4,650,818. Company insiders own 8.70% of the company’s stock.

About Royal Caribbean Cruises

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 13, 2023, it operated 64 ships. The company was founded in 1968 and is headquartered in Miami, Florida.