Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Bought by Shellback Capital LP

Shellback Capital LP lifted its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 40.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 190,000 shares of the company’s stock after acquiring an additional 55,000 shares during the period. Royal Caribbean Cruises accounts for approximately 2.2% of Shellback Capital LP’s portfolio, making the stock its 12th biggest holding. Shellback Capital LP’s holdings in Royal Caribbean Cruises were worth $30,292,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blair William & Co. IL grew its stake in shares of Royal Caribbean Cruises by 37.4% in the first quarter. Blair William & Co. IL now owns 102,133 shares of the company’s stock worth $14,197,000 after purchasing an additional 27,819 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Royal Caribbean Cruises by 17.2% in the 2nd quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock worth $6,156,000 after acquiring an additional 5,655 shares during the period. Virtu Financial LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $765,000. Cibc World Markets Corp increased its stake in shares of Royal Caribbean Cruises by 40.9% during the fourth quarter. Cibc World Markets Corp now owns 59,677 shares of the company’s stock valued at $7,728,000 after acquiring an additional 17,316 shares during the period. Finally, Focus Financial Network Inc. ADV bought a new stake in Royal Caribbean Cruises during the fourth quarter worth approximately $327,000. 87.53% of the stock is owned by institutional investors.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Vagn O. Sorensen sold 5,800 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the transaction, the director now directly owns 25,837 shares of the company’s stock, valued at $4,095,164.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total value of $919,300.00. Following the completion of the sale, the director now owns 25,837 shares in the company, valued at approximately $4,095,164.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Naftali Holtz bought 5,350 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $140.00 per share, with a total value of $749,000.00. Following the purchase, the chief financial officer now directly owns 48,256 shares in the company, valued at $6,755,840. The disclosure for this purchase can be found here. 7.95% of the stock is owned by insiders.

Royal Caribbean Cruises Trading Up 3.0 %

NYSE RCL opened at $182.81 on Friday. The firm’s 50 day moving average price is $161.04 and its two-hundred day moving average price is $150.46. The stock has a market cap of $47.05 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 0.50 and a beta of 2.61. Royal Caribbean Cruises Ltd. has a twelve month low of $78.35 and a twelve month high of $184.41. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share for the quarter, beating 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 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 previous year, the company posted $1.82 earnings per share. Equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.66 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio is 20.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RCL shares. Macquarie increased their price target on Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Truist Financial boosted their price target on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays upped their price target on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Stifel Nicolaus lifted their price objective on shares of Royal Caribbean Cruises from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Morgan Stanley increased their target price on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $184.13.

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.