Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Tidal Investments LLC

Tidal Investments LLC cut its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 20.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,090 shares of the company's stock after selling 4,845 shares during the quarter. Tidal Investments LLC's holdings in Royal Caribbean Cruises were worth $3,386,000 at the end of the most recent reporting period.

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

Insider Transactions at Royal Caribbean Cruises

In related news, EVP Harri U. Kulovaara sold 3,256 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the sale, the executive vice president now directly owns 22,348 shares of the company's stock, valued at $5,243,287.76. The trade was a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total value of $53,732,600.00. Following the transaction, the director now directly owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 404,332 shares of company stock valued at $94,299,521. Insiders own 7.95% of the company's stock.

Royal Caribbean Cruises Price Performance

NYSE RCL traded up $1.02 during mid-day trading on Friday, hitting $245.17. The stock had a trading volume of 1,931,702 shares, compared to its average volume of 1,634,115. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The stock has a market capitalization of $65.92 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 0.65 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a twelve month low of $113.10 and a twelve month high of $258.70. The firm's 50 day moving average is $222.37 and its 200 day moving average is $182.13.

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 company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm's quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business earned $3.85 EPS. Equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.90%. Royal Caribbean Cruises's payout ratio is 16.44%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Tigress Financial increased their price objective on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, November 7th. StockNews.com upgraded shares of Royal Caribbean Cruises from a "sell" rating to a "hold" rating in a report on Tuesday, November 26th. Citigroup lifted their price objective on shares of Royal Caribbean Cruises from $257.00 to $283.00 and gave the company a "buy" rating in a research note on Wednesday. Truist Financial increased their price objective on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. Finally, Bank of America raised their target price on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $239.75.

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.