Pinpoint Asset Management Ltd Acquires 1,643 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Pinpoint Asset Management Ltd raised its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 146.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,768 shares of the company's stock after buying an additional 1,643 shares during the quarter. Pinpoint Asset Management Ltd's holdings in Royal Caribbean Cruises were worth $639,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RCL. Venturi Wealth Management LLC raised its position in Royal Caribbean Cruises by 511.0% during the fourth quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company's stock valued at $498,000 after purchasing an additional 1,804 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Royal Caribbean Cruises by 20.1% in the 4th quarter. Park Avenue Securities LLC now owns 6,630 shares of the company's stock valued at $1,530,000 after purchasing an additional 1,111 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of Royal Caribbean Cruises by 76.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company's stock valued at $5,142,000 after purchasing an additional 12,530 shares during the last quarter. Lorne Steinberg Wealth Management Inc. bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth $231,000. Finally, Geode Capital Management LLC boosted its stake in Royal Caribbean Cruises by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock valued at $1,373,856,000 after buying an additional 353,893 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total value of $15,193,100.00. Following the completion of the sale, the chief executive officer now directly owns 143,214 shares of the company's stock, valued at approximately $37,514,907.30. This represents a 28.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Laura H. Bethge sold 14,992 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total value of $3,925,805.12. Following the transaction, the insider now owns 21,155 shares in the company, valued at approximately $5,539,648.30. This trade represents a 41.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,492 shares of company stock valued at $28,571,705. Corporate insiders own 7.95% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RCL. Tigress Financial raised their price target on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Mizuho reaffirmed an "outperform" rating and set a $253.00 target price (down previously from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. The Goldman Sachs Group dropped their price target on Royal Caribbean Cruises from $275.00 to $270.00 and set a "buy" rating for the company in a research note on Friday, January 24th. Morgan Stanley raised their price objective on Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. upped their target price on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $277.21.

Royal Caribbean Cruises Trading Down 1.4 %

RCL traded down $2.56 during trading on Tuesday, hitting $176.99. The company's stock had a trading volume of 2,914,013 shares, compared to its average volume of 2,342,046. The firm has a market capitalization of $47.63 billion, a P/E ratio of 16.48, a PEG ratio of 0.90 and a beta of 2.26. Royal Caribbean Cruises Ltd. has a twelve month low of $125.06 and a twelve month high of $277.08. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The stock's fifty day moving average price is $233.45 and its 200-day moving average price is $225.27.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same period last year, the business posted $1.25 earnings per share. Analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises declared that its board has authorized a share repurchase plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 7th were issued a dividend of $0.75 per share. This is an increase from Royal Caribbean Cruises's previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, March 7th. This represents a $3.00 annualized dividend and a yield of 1.70%. Royal Caribbean Cruises's dividend payout ratio is presently 28.06%.

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.