Connor Clark & Lunn Investment Management Ltd. Acquires 155,608 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL – Get Rating) by 1,088.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 169,906 shares of the company’s stock after purchasing an additional 155,608 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of Royal Caribbean Cruises worth $8,398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RCL. Vanguard Group Inc. raised its stake in shares of Royal Caribbean Cruises by 1.4% in the first quarter. Vanguard Group Inc. now owns 23,355,449 shares of the company’s stock valued at $1,956,721,000 after acquiring an additional 314,385 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Royal Caribbean Cruises by 29.8% in the third quarter. Primecap Management Co. CA now owns 6,776,061 shares of the company’s stock valued at $256,813,000 after acquiring an additional 1,554,600 shares during the last quarter. Capital World Investors raised its stake in shares of Royal Caribbean Cruises by 1,314.9% in the first quarter. Capital World Investors now owns 2,759,035 shares of the company’s stock valued at $231,152,000 after acquiring an additional 2,564,035 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Royal Caribbean Cruises by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,184,684 shares of the company’s stock valued at $99,253,000 after acquiring an additional 37,126 shares during the last quarter. Finally, Ariel Investments LLC raised its stake in shares of Royal Caribbean Cruises by 56.0% in the first quarter. Ariel Investments LLC now owns 1,022,510 shares of the company’s stock valued at $85,666,000 after acquiring an additional 367,253 shares during the last quarter. Institutional investors own 74.27% of the company’s stock.

Insider Activity

In other news, CEO Jason T. Liberty sold 36,536 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total value of $2,922,880.00. Following the sale, the chief executive officer now directly owns 147,078 shares of the company’s stock, valued at approximately $11,766,240. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jason T. Liberty sold 36,536 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $80.00, for a total value of $2,922,880.00. Following the sale, the chief executive officer now directly owns 147,078 shares of the company’s stock, valued at approximately $11,766,240. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 375,000 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $80.74, for a total transaction of $30,277,500.00. Following the completion of the sale, the director now directly owns 20,689,632 shares in the company, valued at $1,670,480,887.68. The disclosure for this sale can be found here. 8.70% of the stock is owned by insiders.

Analysts Set New Price Targets

RCL has been the subject of a number of research analyst reports. UBS Group lifted their target price on shares of Royal Caribbean Cruises from $82.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Bank of America raised shares of Royal Caribbean Cruises from an “underperform” rating to a “neutral” rating and raised their price target for the company from $40.00 to $78.00 in a report on Wednesday, February 8th. Stifel Nicolaus raised their price target on shares of Royal Caribbean Cruises from $86.00 to $90.00 in a report on Wednesday, February 8th. Wells Fargo & Company raised their price target on shares of Royal Caribbean Cruises from $78.00 to $88.00 in a report on Friday, May 5th. Finally, Barclays raised their price target on shares of Royal Caribbean Cruises from $88.00 to $100.00 in a report on Friday, May 5th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.14.

Royal Caribbean Cruises Trading Up 0.8 %

Shares of RCL stock opened at $77.90 on Friday. The firm has a fifty day moving average of $67.53 and a 200-day moving average of $63.85. The company has a debt-to-equity ratio of 6.41, a current ratio of 0.26 and a quick ratio of 0.23. Royal Caribbean Cruises Ltd. has a 12-month low of $31.09 and a 12-month high of $81.16.

Royal Caribbean Cruises (NYSE:RCL – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.48. Royal Caribbean Cruises had a negative net margin of 9.72% and a negative return on equity of 25.86%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the firm posted ($4.57) EPS. The company’s revenue for the quarter was up 172.4% on a year-over-year basis. Sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 4.72 EPS for the current fiscal year.

Royal Caribbean Cruises Company Profile

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Royal Caribbean Group is a cruise company, which engages in the ownership and operation of the following global cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. The firm also holds interest in TUI Cruises GmbH, which operates the German brands TUI Cruises and Hapag-Lloyd Cruises.