Highland Capital Management LLC Has $3.79 Million Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Highland Capital Management LLC cut its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 17.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,444 shares of the company's stock after selling 3,541 shares during the quarter. Highland Capital Management LLC's holdings in Royal Caribbean Cruises were worth $3,793,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Plato Investment Management Ltd purchased a new position in Royal Caribbean Cruises during the third quarter worth about $26,000. Safe Harbor Fiduciary LLC purchased a new stake in Royal Caribbean Cruises during the 3rd quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. increased its stake in Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company's stock worth $30,000 after buying an additional 121 shares during the period. LRI Investments LLC purchased a new stake in Royal Caribbean Cruises during the 3rd quarter worth approximately $31,000. Finally, ORG Wealth Partners LLC acquired a new position in Royal Caribbean Cruises during the 4th quarter worth approximately $40,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Up 1.3 %

Shares of RCL stock traded up $3.43 during mid-day trading on Thursday, reaching $272.52. 1,276,486 shares of the company were exchanged, compared to its average volume of 2,427,897. The company has a market capitalization of $73.27 billion, a P/E ratio of 28.06, a P/E/G ratio of 0.50 and a beta of 2.59. The business's 50 day simple moving average is $239.12 and its 200 day simple moving average is $200.69. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. Royal Caribbean Cruises Ltd. has a fifty-two week low of $113.10 and a fifty-two week high of $273.50.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. During the same period in the prior year, the firm earned $1.25 earnings per share. Research analysts predict that Royal Caribbean Cruises Ltd. will post 11.66 earnings per share for the current year.

Royal Caribbean Cruises Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Friday, December 27th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Friday, December 27th. Royal Caribbean Cruises's dividend payout ratio (DPR) is 20.58%.

Wall Street Analyst Weigh In

RCL has been the subject of several analyst reports. Macquarie boosted their price target on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday. Barclays upped their target price on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an "overweight" rating in a report on Wednesday. Mizuho restated an "outperform" rating and issued a $253.00 target price (down previously from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Citigroup upped their price target on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Bank of America upped their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $274.19.

Insider Activity

In related news, Director Arne Alexander Wilhelmsen sold 230,000 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the sale, the director now directly owns 18,556,860 shares in the company, valued at $4,335,253,633.20. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the sale, the executive vice president now owns 22,348 shares in the company, valued at approximately $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 372,609 shares of company stock valued at $87,647,208. 7.95% of the stock is currently owned by company insiders.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.