Royal Bank Cuts Ryanair Stake Amid Share Price Surge

Royal Bank of Canada sold 679,544 shares of Ryanair Holdings PLC's stock in the first quarter, reducing its stake by 20.5%, according to a recent filing with the SEC. The firm now owns 2,633,551 shares of Ryanair's stock, representing 0.51% of the company's total value.

Other institutional investors and hedge funds also made changes to their positions in Ryanair during the quarter. Quantinno Capital Management LP increased its stake by 53.1%, while Public Employees Retirement System of Ohio lifted its holding by 429.1%.

Ryanair's stock price has been rising, with shares opening at $60.17 on Friday. The company has a market cap of $31.26 billion and a price-to-earnings ratio of 14.46.