Pinnbrook Capital Management LP Sells 44,050 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Pinnbrook Capital Management LP decreased its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 76.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,731 shares of the company's stock after selling 44,050 shares during the quarter. Pinnbrook Capital Management LP's holdings in Royal Caribbean Cruises were worth $3,168,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hemington Wealth Management grew its position in shares of Royal Caribbean Cruises by 9.0% in the fourth quarter. Hemington Wealth Management now owns 533 shares of the company's stock valued at $123,000 after purchasing an additional 44 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in Royal Caribbean Cruises by 2.2% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company's stock valued at $544,000 after purchasing an additional 50 shares during the period. Bartlett & CO. Wealth Management LLC increased its holdings in shares of Royal Caribbean Cruises by 12.3% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 457 shares of the company's stock worth $106,000 after purchasing an additional 50 shares during the period. DT Investment Partners LLC boosted its stake in shares of Royal Caribbean Cruises by 16.7% in the fourth quarter. DT Investment Partners LLC now owns 350 shares of the company's stock valued at $81,000 after buying an additional 50 shares during the period. Finally, FSM Wealth Advisors LLC grew its position in Royal Caribbean Cruises by 3.2% during the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company's stock worth $290,000 after buying an additional 51 shares in the last quarter. Institutional investors own 87.53% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an "overweight" rating in a research note on Monday, January 27th. Citigroup increased their target price on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Susquehanna increased their target price on shares of Royal Caribbean Cruises from $245.00 to $305.00 and gave the stock a "positive" rating in a report on Wednesday, January 29th. Stifel Nicolaus raised their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a "buy" rating in a report on Friday, December 6th. Finally, UBS Group raised their price objective on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises has a consensus rating of "Moderate Buy" and an average target price of $284.12.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL traded down $2.66 during mid-day trading on Friday, reaching $241.23. 1,004,631 shares of the company's stock were exchanged, compared to its average volume of 2,381,196. The firm has a market capitalization of $64.92 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 0.98 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a 52 week low of $119.48 and a 52 week high of $277.08. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The firm has a 50-day moving average price of $244.57 and a two-hundred day moving average price of $211.77.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its earnings results 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 return on equity of 48.97% and a net margin of 17.46%. During the same quarter in the previous year, the business posted $1.25 EPS. Analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be paid a $0.75 dividend. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises's payout ratio is currently 28.06%.

Royal Caribbean Cruises announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the completion of the transaction, the insider now owns 21,155 shares of the company's stock, valued at $5,539,648.30. The trade was a 41.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Naftali Holtz sold 17,000 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total value of $4,447,540.00. Following the transaction, the chief financial officer now directly owns 42,127 shares of the company's stock, valued at $11,021,265.74. The trade was a 28.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,492 shares of company stock worth $28,571,705. Company insiders own 7.95% of the company's stock.

Royal Caribbean Cruises Company Profile

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.