Pinnacle Associates Ltd buys $113.4 Million stake in Royal Caribbean Cruises Ltd (RCL)

Royal Caribbean Cruises Ltd (RCL) : Pinnacle Associates Ltd scooped up 8,394 additional shares in Royal Caribbean Cruises Ltd during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 1,499,498 shares of Royal Caribbean Cruises Ltd which is valued at $113.4 Million.Royal Caribbean Cruises Ltd makes up approximately 2.53% of Pinnacle Associates Ltd’s portfolio.

Other Hedge Funds, Including , Pacer Advisors added RCL to its portfolio by purchasing 2,861 company shares during the most recent quarter which is valued at $216,406. Royal Caribbean Cruises Ltd makes up approx 0.05% of Pacer Advisors’s portfolio. Catalyst Capital Advisors sold out all of its stake in RCL during the most recent quarter. The investment firm sold 90,000 shares of RCL which is valued $6.8 Million. Finemark National Bank Trust sold out all of its stake in RCL during the most recent quarter. The investment firm sold 24 shares of RCL which is valued $1,815. Condor Capital Management added RCL to its portfolio by purchasing 9,024 company shares during the most recent quarter which is valued at $682,575. Royal Caribbean Cruises Ltd makes up approx 0.17% of Condor Capital Management’s portfolio.Andra Ap-fonden boosted its stake in RCL in the latest quarter, The investment management firm added 6,100 additional shares and now holds a total of 41,600 shares of Royal Caribbean Cruises Ltd which is valued at $3.1 Million. Royal Caribbean Cruises Ltd makes up approx 0.08% of Andra Ap-fonden’s portfolio.

Royal Caribbean Cruises Ltd closed down -2.31 points or -2.89% at $77.5 with 24,51,150 shares getting traded on Wednesday. Post opening the session at $79.55, the shares hit an intraday low of $77.32 and an intraday high of $79.55 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Royal Caribbean Cruises Ltd reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.25 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.32. The company had revenue of $1917.79 million for the quarter, compared to analysts expectations of $1911.18 million. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Royal Caribbean Cruises Ltd. (Royal Caribbean) is a cruise company. The Company owns various brands such as Royal Caribbean International Celebrity Cruises Pullmantur Azamara Club Cruises CDF Croisieres de France and a 50% joint venture interest in TUI Cruises. Together these six brands operate a combined 43 ships in the cruise vacation industry with an aggregate capacity of approximately 105750 berths. The Company’s ships operate on a selection of itineraries that call on approximately 480 destinations on all seven continents. Royal Caribbean International offers a variety of itineraries including Alaska Asia Australia Bahamas Bermuda Canada the Caribbean Europe the Panama Canal South America and New Zealand. Celebrity Cruises offers a variety of itineraries including Alaska Asia Australia Bermuda Canada the Caribbean Europe Hawaii New Zealand the Panama Canal and South America.

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