Sound Income Strategies LLC Reduces Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Sound Income Strategies LLC lessened its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 50.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 386 shares of the company’s stock after selling 400 shares during the period. Sound Income Strategies LLC’s holdings in Royal Caribbean Cruises were worth $54,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of RCL. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at about $463,000. Envestnet Asset Management Inc. lifted its holdings in shares of Royal Caribbean Cruises by 45.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 200,714 shares of the company’s stock valued at $18,494,000 after buying an additional 63,026 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Royal Caribbean Cruises by 285.6% in the 3rd quarter. Hsbc Holdings PLC now owns 23,463 shares of the company’s stock valued at $2,165,000 after buying an additional 17,378 shares during the period. LPL Financial LLC raised its holdings in Royal Caribbean Cruises by 5.8% in the 3rd quarter. LPL Financial LLC now owns 121,223 shares of the company’s stock worth $11,170,000 after purchasing an additional 6,691 shares during the period. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in Royal Caribbean Cruises by 21.7% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,235 shares of the company’s stock worth $114,000 after purchasing an additional 220 shares during the period. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

RCL stock opened at $161.34 on Thursday. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.19 and a quick ratio of 0.16. The business has a 50 day simple moving average of $145.46 and a 200-day simple moving average of $132.92. The firm has a market capitalization of $41.52 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 0.48 and a beta of 2.56. Royal Caribbean Cruises Ltd. has a 1 year low of $78.35 and a 1 year high of $161.68.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.44. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.69 billion. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The business’s revenue was up 29.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) earnings per share. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Henry L. Pujol sold 9,944 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total value of $1,404,391.12. Following the completion of the transaction, the chief accounting officer now directly owns 16,687 shares in the company, valued at $2,356,705.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Henry L. Pujol sold 9,944 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total value of $1,404,391.12. Following the completion of the transaction, the chief accounting officer now directly owns 16,687 shares in the company, valued at $2,356,705.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael W. Bayley sold 24,201 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $140.21, for a total value of $3,393,222.21. Following the completion of the transaction, the chief executive officer now owns 98,850 shares of the company’s stock, valued at $13,859,758.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,884 shares of company stock worth $22,052,985. Company insiders own 7.95% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RCL. JPMorgan Chase & Co. upped their price target on Royal Caribbean Cruises from $173.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday. Mizuho upped their price target on Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Argus upped their price target on Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Macquarie boosted their price objective on Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. Finally, Susquehanna boosted their price objective on Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a “positive” rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average target price of $161.13.

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.