Boothe Investment Group Inc. Purchases New Stake in Royal Caribbean Group (NYSE:RCL)
Boothe Investment Group Inc. acquired a new position in shares of Royal Caribbean Group (NYSE:RCL) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 60,874 shares of the company’s stock, valued at approximately $5,211,000. Royal Caribbean Group makes up 3.0% of Boothe Investment Group Inc.’s portfolio, making the stock its 16th largest holding.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Royal Caribbean Group by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,343,402 shares of the company’s stock worth $175,018,000 after purchasing an additional 69,757 shares during the last quarter. Norges Bank acquired a new position in shares of Royal Caribbean Group in the 4th quarter worth approximately $153,899,000. Northern Trust Corp grew its position in shares of Royal Caribbean Group by 0.5% in the 4th quarter. Northern Trust Corp now owns 2,040,372 shares of the company’s stock worth $152,394,000 after acquiring an additional 10,994 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Royal Caribbean Group by 3.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,357,475 shares of the company’s stock valued at $101,390,000 after acquiring an additional 42,671 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Royal Caribbean Group by 176.2% during the 4th quarter. Morgan Stanley now owns 1,199,606 shares of the company’s stock valued at $89,597,000 after acquiring an additional 765,284 shares in the last quarter. 59.07% of the stock is owned by institutional investors.
A number of analysts have weighed in on the stock. Credit Suisse Group increased their target price on shares of Royal Caribbean Group from $76.00 to $117.00 and gave the stock an “outperform” rating in a report on Wednesday, February 24th. Zacks Investment Research raised shares of Royal Caribbean Group from a “sell” rating to a “hold” rating and set a $70.00 target price on the stock in a report on Thursday, January 28th. Deutsche Bank Aktiengesellschaft upped their target price on Royal Caribbean Group from $62.00 to $79.00 and gave the company a “hold” rating in a report on Tuesday, February 23rd. Truist Securities raised their price target on Royal Caribbean Group from $48.00 to $68.00 in a report on Monday, March 15th. Finally, Truist boosted their price objective on Royal Caribbean Group from $48.00 to $68.00 in a research report on Monday, March 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $73.20.
Royal Caribbean Group (NYSE:RCL) last posted its quarterly earnings data on Sunday, February 21st. The company reported ($5.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($5.20) by $0.18. Royal Caribbean Group had a negative net margin of 24.36% and a negative return on equity of 25.20%. The business had revenue of $34.10 million during the quarter, compared to analysts’ expectations of $42.86 million. During the same period last year, the firm posted $1.42 earnings per share. The business’s revenue was down 98.6% on a year-over-year basis. Research analysts predict that Royal Caribbean Group will post -18.31 EPS for the current year.
In other Royal Caribbean Group news, CFO Jason T. Liberty sold 34,778 shares of the company’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $90.17, for a total value of $3,135,932.26. Following the completion of the sale, the chief financial officer now directly owns 115,251 shares of the company’s stock, valued at approximately $10,392,182.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lisa Lutoff-Perlo sold 23,702 shares of the stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $90.00, for a total transaction of $2,133,180.00. Following the sale, the chief executive officer now directly owns 73,391 shares of the company’s stock, valued at $6,605,190. The disclosure for this sale can be found here. Corporate insiders own 13.09% of the company’s stock.
Royal Caribbean Group Company Profile
Royal Caribbean Group operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 19 nights.
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