Freestone Grove Partners adds Royal Caribbean position
A regulatory filing showed the firm acquired 85,553 shares valued at approximately $27,166,000 during the second quarter.
Freestone Grove Partners LP bought a new position in Royal Caribbean Cruises during the second quarter, according to its most recent Form 13F filing. The position consisted of 85,553 shares and was valued at approximately $27,166,000.
The report stated that hedge funds and other institutional investors own 87.53% of Royal Caribbean stock.
In a separate transaction, Royal Caribbean CEO Michael W. Bayley sold 12,811 shares at an average price of $315.99. The shares had a total value of $4,048,147.89.
Royal Caribbean reported earnings of $4.21 per share for the quarter, compared with analysts’ consensus estimate of $3.98 per share. The company recorded quarterly revenue of $4.83 billion, while analysts had expected $4.82 billion.
The cruise company also reported that its quarterly revenue increased 6.5% compared with the same period a year earlier.
