Columbus Hill Capital Management L.P. Raises Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Columbus Hill Capital Management L.P. grew its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 8.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 244,795 shares of the company’s stock after acquiring an additional 18,378 shares during the quarter. Royal Caribbean Cruises comprises approximately 8.0% of Columbus Hill Capital Management L.P.’s holdings, making the stock its 2nd largest position. Columbus Hill Capital Management L.P.’s holdings in Royal Caribbean Cruises were worth $39,028,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of RCL. AE Wealth Management LLC lifted its position in Royal Caribbean Cruises by 50.0% in the second quarter. AE Wealth Management LLC now owns 7,834 shares of the company’s stock worth $1,249,000 after purchasing an additional 2,611 shares during the period. ASB Consultores LLC bought a new position in Royal Caribbean Cruises during the second quarter valued at about $266,000. Bridges Investment Management Inc. acquired a new position in Royal Caribbean Cruises during the second quarter worth about $300,000. Benjamin Edwards Inc. raised its position in Royal Caribbean Cruises by 99.0% in the second quarter. Benjamin Edwards Inc. now owns 2,639 shares of the company’s stock worth $421,000 after acquiring an additional 1,313 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in Royal Caribbean Cruises by 104.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,571 shares of the company’s stock worth $251,000 after acquiring an additional 803 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Insider Activity

In related news, insider Laura H. Bethge sold 3,073 shares of the firm’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 transaction, the insider now owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the transaction, the insider now directly owns 27,388 shares in the company, valued at $4,620,629.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Naftali Holtz purchased 5,350 shares of Royal Caribbean Cruises stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $140.00 per share, with a total value of $749,000.00. Following the transaction, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at $6,755,840. The disclosure for this purchase can be found here. 7.95% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Stock Performance

Shares of RCL opened at $173.99 on Friday. The company has a market capitalization of $44.78 billion, a PE ratio of 22.42, a PEG ratio of 0.49 and a beta of 2.61. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19. The company’s 50 day moving average price is $160.46 and its 200 day moving average price is $149.22. Royal Caribbean Cruises Ltd. has a 52 week low of $78.35 and a 52 week high of $174.48.

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

Royal Caribbean Cruises Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RCL shares. Barclays lifted their price objective on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Argus upped their price target on Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Truist Financial increased their price objective on Royal Caribbean Cruises from $151.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. The Goldman Sachs Group lifted their target price on Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, UBS Group upped their target price on Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. 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 company. According to MarketBeat, Royal Caribbean Cruises has an average rating of “Moderate Buy” and an average price target of $182.31.

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.