Veriti Management LLC, a reputable institutional investor in the USA, has announced an increase in its stake in Royal Caribbean Cruises Ltd. (NYSE: RCL) in the 4th quarter of the recent fiscal year. The investor acquired an additional 4358 shares, bringing its total holdings in the company to ~10887 shares, a surge of 66.7%. Veriti's stake in Royal Caribbean Cruises is valued at US$538,000, according to the latest disclosure to the US Securities and Exchange Commission (SEC).
The cruise industry has been experiencing a resurgence as the world recovers from the economic slowdown caused by the COVID crisis, with more people interested in taking vacations aboard luxury liners. This has attracted investors like Veriti Management LLC to invest heavily in leading companies in the sector such as RCL.
RCL's strong financial performance, with a significant increase in revenue compared to 2019-2020 earnings in the fourth quarter, supports such investment strategies. Key analysts are optimistic about this development and anticipate further growth for Royal Caribbean Cruises Ltd., with an expected average return of around $3.27 per share for the current fiscal year.
This investment upliftment marks a remarkable comeback for Royal Caribbean Cruises and its stakeholders' confidence, which was previously impacted by concerns regarding customer travel behavior and so-called "casualty events" during global crises.