Ken Fisher Sold These 5 Stocks Before Entering 2022

3. Royal Caribbean Cruises Ltd. (NYSE:RCL)

Number of Hedge Fund Holders: 35

Royal Caribbean Cruises Ltd. (NYSE:RCL) is a Florida-based global cruise holding company that wholly owns three cruise lines, namely Royal Caribbean International, Celebrity Cruises, and Silversea Cruises.

Ken Fisher acquired 1,944 shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) in Q4 2019, worth $260,000, and discarded his stake entirely in Q1 2020. Ken Fisher’s fund purchased 2,454 shares of the company in Q3 2021, valued at $218,000, which he disposed of in the fourth quarter of 2021. 

On February 4, Royal Caribbean Cruises Ltd. (NYSE:RCL) reported its Q4 financial results. The company posted a loss per share of $4.78, missing estimates by $0.86. Revenue over the period jumped more than 2700% from the prior-year quarter, reaching $982.25 million, but missed market consensus estimates by $172.22 million. 

Stifel analyst Steven Wieczynski lowered the price target on Royal Caribbean Cruises Ltd. (NYSE:RCL) to $125 from $130 following the company’s earnings report, but kept a Buy rating on the shares on February 8. While he is lowering 2022/2023 EBITDA and EPS estimates as he slightly delayed the company’s full return to service, the analyst thinks that Royal Caribbean Cruises Ltd. (NYSE:RCL) and the rest of the cruise operators are “set up exceptionally well” heading into the second half of 2022, given demand and pricing patterns continue to strengthen and the risk around additional capital raises “seems remote”. 

According to the Q3 data of Insider Monkey, 35 hedge funds were bullish on Royal Caribbean Cruises Ltd. (NYSE:RCL), down from 42 funds in the preceding quarter. Of these 35 funds, as of Q3 2021, Citadel Investment Group is a prominent stakeholder of Royal Caribbean Cruises Ltd. (NYSE:RCL), with more than 1 million shares worth $92.4 million.