Virtu Financial LLC Sells 2,279 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Virtu Financial LLC lessened its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 36.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,990 shares of the company's stock after selling 2,279 shares during the period. Virtu Financial LLC's holdings in Royal Caribbean Cruises were worth $708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in RCL. Plato Investment Management Ltd acquired a new stake in Royal Caribbean Cruises during the 3rd quarter worth approximately $26,000. Safe Harbor Fiduciary LLC bought a new position in shares of Royal Caribbean Cruises in the third quarter worth about $27,000. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company's stock valued at $30,000 after acquiring an additional 121 shares in the last quarter. Unique Wealth Strategies LLC bought a new stake in Royal Caribbean Cruises during the 2nd quarter worth approximately $27,000. Finally, LRI Investments LLC acquired a new stake in shares of Royal Caribbean Cruises in the third quarter valued at about $31,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial increased their target price on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. The Goldman Sachs Group upped their price target on shares of Royal Caribbean Cruises from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Sanford C. Bernstein assumed coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They issued an "outperform" rating and a $290.00 price objective for the company. Macquarie upped their target price on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, Bank of America lifted their target price on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $239.75.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL traded up $1.02 during midday trading on Friday, reaching $245.17. The company had a trading volume of 1,931,702 shares, compared to its average volume of 2,326,271. The stock has a market cap of $65.92 billion, a P/E ratio of 25.20, a P/E/G ratio of 0.65 and a beta of 2.59. The company's 50 day moving average price is $222.37 and its 200 day moving average price is $182.13. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises Ltd. has a 52-week low of $113.10 and a 52-week high of $258.70.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.05 by $0.15. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business's revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the business posted $3.85 earnings per share. As a group, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Friday, December 27th will be issued a $0.55 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. Royal Caribbean Cruises's payout ratio is currently 22.61%.

Insider Buying and Selling

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $237.89, for a total value of $33,150,685.17. Following the completion of the sale, the director now owns 18,167,507 shares of the company's stock, valued at approximately $4,321,868,240.23. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Henry L. Pujol sold 6,723 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the completion of the transaction, the chief accounting officer now owns 9,964 shares in the company, valued at $2,077,593.64. This represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock worth $94,299,521 over the last ninety days. 7.95% of the stock is owned by corporate 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.