Algert Global LLC Makes New Investment in Royal Caribbean Group (NYSE:RCL)

Algert Global LLC acquired a new position in shares of Royal Caribbean Group (NYSE:RCL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 12,905 shares of the company’s stock, valued at approximately $1,101,000.

Other hedge funds also recently added to or reduced their stakes in the company. Twinbeech Capital LP purchased a new position in shares of Royal Caribbean Group during the first quarter worth approximately $3,202,000. Mackenzie Financial Corp grew its position in shares of Royal Caribbean Group by 22.6% during the second quarter. Mackenzie Financial Corp now owns 16,080 shares of the company’s stock worth $1,371,000 after acquiring an additional 2,966 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of Royal Caribbean Group during the second quarter worth approximately $1,083,000. IFM Investors Pty Ltd purchased a new position in shares of Royal Caribbean Group during the second quarter worth approximately $2,508,000. Finally, Holocene Advisors LP purchased a new position in shares of Royal Caribbean Group during the first quarter worth approximately $6,639,000. 68.73% of the stock is currently owned by institutional investors.

RCL stock traded up $0.78 during trading on Thursday, hitting $87.51. The stock had a trading volume of 13,888 shares, compared to its average volume of 4,372,443. The company’s 50 day moving average price is $83.61 and its two-hundred day moving average price is $84.41. Royal Caribbean Group has a 1-year low of $51.33 and a 1-year high of $99.24. The stock has a market cap of $22.29 billion, a price-to-earnings ratio of -3.88 and a beta of 2.80. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.04 and a current ratio of 1.07.

Royal Caribbean Group (NYSE:RCL) last announced its earnings results on Tuesday, August 3rd. The company reported ($5.06) earnings per share for the quarter, missing the consensus estimate of ($4.39) by ($0.67). The company had revenue of $50.91 million for the quarter, compared to analysts’ expectations of $140.36 million. During the same period last year, the firm earned ($6.13) earnings per share. The company’s revenue was down 71.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Royal Caribbean Group will post -16.55 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on RCL shares. JPMorgan Chase & Co. raised their target price on shares of Royal Caribbean Group from $112.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, June 17th. Truist Securities lifted their price objective on shares of Royal Caribbean Group from $72.00 to $80.00 and gave the company a “hold” rating in a research report on Wednesday, September 22nd. Wolfe Research upgraded shares of Royal Caribbean Group from a “peer perform” rating to an “outperform” rating and set a $94.00 price objective on the stock in a research report on Wednesday, June 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Royal Caribbean Group from $80.00 to $83.00 and gave the company a “hold” rating in a research report on Friday, August 20th. Finally, Stifel Nicolaus lifted their price objective on shares of Royal Caribbean Group from $95.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, September 24th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $91.67.

In related news, CEO Lisa Lutoff-Perlo sold 5,080 shares of the business’s stock in a transaction dated Monday, September 13th. The shares were sold at an average price of $80.96, for a total value of $411,276.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.56% of the company’s stock.

Royal Caribbean Group Profile

Royal Caribbean Cruises Group operates as a global cruise company. It controls and operates the following global cruise brands: Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises. The firm also holds interest in TUI Cruises, Pullmantur, and SkySea Cruises brands. The company was founded in by Arne Wilhelmsen in 1968 and is headquartered in Miami, FL.

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

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