Cambridge Investment Research Advisors Inc. has increased its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 53.9% during the second quarter, according to a recent disclosure with the Securities & Exchange Commission. The firm now owns 63,074 shares of Royal Caribbean Cruises, valued at $6,543,000.
Other institutional investors have also made changes to their positions in the company. Sciencast Management LP purchased a new position in Royal Caribbean Cruises during the second quarter, valued at approximately $705,000. Silvant Capital Management LLC raised its stake in the company during the first quarter and now owns 313,561 shares valued at $20,476,000. CIBC Asset Management Inc and Toroso Investments LLC also increased their holdings in the company.
Insiders at Royal Caribbean Cruises have also been active in buying and selling the stock. CEO Michael W. Bayley recently sold 10,000 shares of the stock at an average price of $97.43, for a total transaction of $974,300.00. Chief Accounting Officer Henry L. Pujol also sold 18,908 shares of the stock at an average price of $106.74.
Royal Caribbean Cruises has shown strong performance recently, with shares opening at $91.24 on Friday. The company has a 52-week low of $36.92 and a 52-week high of $112.95. The stock has a market capitalization of $23.37 billion and a price-to-earnings ratio of -285.12.
In its most recent earnings report, Royal Caribbean Cruises announced earnings per share of $1.82 for the quarter, beating analysts’ estimates of $1.58. The company had revenue of $3.52 billion for the quarter, surpassing the consensus estimate of $3.41 billion.
Several analysts have recently commented on RCL shares. Bank of America raised the price objective on Royal Caribbean Cruises from $82.00 to $95.00. Tigress Financial increased the price objective from $102.00 to $139.00. Truist Financial raised the rating of the stock from “hold” to “buy” and raised the price target from $115.00 to $137.00.
In summary, Cambridge Investment Research Advisors Inc. and other institutional investors have increased their holdings in Royal Caribbean Cruises. The company has also experienced insider buying and selling. Royal Caribbean Cruises is showing strong performance with positive earnings and surpassing revenue estimates. Analysts have a positive outlook on the stock.