Quantitative Systematic Strategies LLC reduced its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 1.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,414 shares of the company’s stock after selling 263 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Royal Caribbean Cruises were worth $2,449,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RCL. Prudential Financial Inc. boosted its position in Royal Caribbean Cruises by 17.8% in the first quarter. Prudential Financial Inc. now owns 477,787 shares of the company’s stock valued at $46,875,000 after buying an additional 72,120 shares during the last quarter. Dynamic Capital Management Ltd boosted its position in shares of Royal Caribbean Cruises by 55.5% in the first quarter. Dynamic Capital Management Ltd now owns 35,502 shares of the company’s stock worth $3,483,000 after buying an additional 12,675 shares in the last quarter. Bank of The West boosted its position in shares of Royal Caribbean Cruises by 0.7% in the first quarter. Bank of The West now owns 34,275 shares of the company’s stock worth $3,363,000 after buying an additional 222 shares in the last quarter. Baltimore Washington Financial Advisors Inc. boosted its position in shares of Royal Caribbean Cruises by 8.2% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 65,260 shares of the company’s stock worth $5,353,000 after buying an additional 4,950 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of Royal Caribbean Cruises during the first quarter worth $1,108,000. Hedge funds and other institutional investors own 71.67% of the company’s stock.
Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) traded down 0.08% during mid-day trading on Friday, hitting $117.22. The stock had a trading volume of 1,787,406 shares. The firm’s 50-day moving average price is $113.22 and its 200 day moving average price is $104.26. Royal Caribbean Cruises Ltd. has a 12-month low of $65.10 and a 12-month high of $121.47. The stock has a market cap of $25.22 billion, a price-to-earnings ratio of 16.45 and a beta of 1.06.
Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.04. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 EPS. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post $7.44 EPS for the current fiscal year.
Royal Caribbean Cruises announced that its Board of Directors has initiated a stock buyback program on Friday, April 28th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 2.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
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A number of analysts recently commented on RCL shares. Zacks Investment Research cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Deutsche Bank AG dropped their price objective on Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating for the company in a research report on Tuesday, May 2nd. Wedbush lifted their price objective on Royal Caribbean Cruises from $106.00 to $117.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 25th. Goldman Sachs Group, Inc. (The) raised their price target on Royal Caribbean Cruises from $90.00 to $94.00 and gave the stock a “sell” rating in a research note on Monday, May 1st. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $119.50 price target (up from $117.50) on shares of Royal Caribbean Cruises in a research note on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nineteen have issued a buy rating to the stock. Royal Caribbean Cruises has an average rating of “Buy” and an average price target of $117.23.
In related news, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $109.62, for a total value of $2,192,400.00. Following the sale, the chief executive officer now owns 967,741 shares in the company, valued at approximately $106,083,768.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bernt Reitan sold 4,793 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $117.22, for a total transaction of $561,835.46. Following the completion of the sale, the director now owns 7,862 shares of the company’s stock, valued at approximately $921,583.64. The disclosure for this sale can be found here. Insiders have sold a total of 452,499 shares of company stock worth $52,583,811 in the last three months. Insiders own 15.30% of the company’s stock.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).
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