Symmetry Investments LP Makes New $2.55 Million Investment in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Symmetry Investments LP bought a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,049 shares of the company's stock, valued at approximately $2,549,000.

A number of other institutional investors have also recently modified their holdings of the business. Brown Brothers Harriman & Co. boosted its position in Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Bay Harbor Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $36,000. Truvestments Capital LLC purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $36,000. ORG Wealth Partners LLC acquired a new stake in Royal Caribbean Cruises in the 4th quarter valued at $40,000. Finally, Atlantic Edge Private Wealth Management LLC increased its holdings in Royal Caribbean Cruises by 100.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company's stock worth $46,000 after acquiring an additional 100 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RCL has been the topic of several research analyst reports. Tigress Financial lifted their target price on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a "buy" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Wells Fargo & Company boosted their price objective on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an "overweight" rating in a research note on Monday, January 27th. Argus raised their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Finally, Barclays dropped their price target on Royal Caribbean Cruises from $308.00 to $249.00 and set an "overweight" rating for the company in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $273.84.

Insider Transactions at Royal Caribbean Cruises

In other news, CEO Jason T. Liberty sold 58,000 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the sale, the chief executive officer now owns 143,214 shares of the company's stock, valued at approximately $37,514,907.30. This represents a 28.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises 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 completion of the transaction, the insider now owns 21,155 shares of the company's stock, 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 quarter, insiders have sold 109,492 shares of company stock valued at $28,571,705. 7.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock opened at $199.99 on Wednesday. The company's 50 day simple moving average is $215.02 and its 200-day simple moving average is $226.09. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $277.08. The company has a market capitalization of $53.82 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 0.90 and a beta of 2.26.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (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 earned $1.25 EPS. As a group, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, March 7th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, March 7th. This is a positive change 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 1.50%. Royal Caribbean Cruises's dividend payout ratio is 28.06%.

Royal Caribbean Cruises announced that its board has authorized a share buyback program 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 stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Royal Caribbean Cruises 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.

Want to see what other hedge funds are holding RCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.