WealthTrust Asset Management LLC Lowers Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

WealthTrust Asset Management LLC trimmed its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 5.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,242 shares of the company’s stock after selling 517 shares during the period. Royal Caribbean Cruises makes up approximately 1.1% of WealthTrust Asset Management LLC’s holdings, making the stock its 22nd largest holding. WealthTrust Asset Management LLC’s holdings in Royal Caribbean Cruises were worth $1,473,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Unique Wealth Strategies LLC bought a new position in shares of Royal Caribbean Cruises in the 2nd quarter worth about $27,000. Versant Capital Management Inc grew its holdings in Royal Caribbean Cruises by 905.3% in the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after purchasing an additional 172 shares during the period. Scarborough Advisors LLC bought a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $26,000. AlphaMark Advisors LLC lifted its holdings in shares of Royal Caribbean Cruises by 233.3% during the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. Finally, Creekmur Asset Management LLC bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of RCL opened at $171.61 on Friday. The firm has a fifty day simple moving average of $160.31 and a two-hundred day simple moving average of $148.88. The firm has a market cap of $44.16 billion, a PE ratio of 22.11, a P/E/G ratio of 0.49 and a beta of 2.61. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. Royal Caribbean Cruises Ltd. has a 1-year low of $78.35 and a 1-year high of $173.40.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. Royal Caribbean Cruises’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.82 earnings per share. On average, equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 20th.

Insider Buying and Selling

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the transaction, the director now directly owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The disclosure for this sale can be found here. 7.95% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RCL has been the subject of a number of analyst reports. Citigroup raised their price objective on Royal Caribbean Cruises from $165.00 to $204.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Mizuho raised their price target on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, July 26th. JPMorgan Chase & Co. upped their price target on shares of Royal Caribbean Cruises from $210.00 to $213.00 and gave the stock an “overweight” rating in a research note on Monday. Stifel Nicolaus increased their price objective on shares of Royal Caribbean Cruises from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Macquarie lifted their target price on shares of Royal Caribbean Cruises from $165.00 to $189.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $182.31.

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.