NewEdge Advisors LLC Raises Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

NewEdge Advisors LLC grew its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 144.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,115 shares of the company’s stock after buying an additional 8,340 shares during the period. NewEdge Advisors LLC’s holdings in Royal Caribbean Cruises were worth $2,250,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of RCL. Scarborough Advisors LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter valued at $26,000. Unique Wealth Strategies LLC acquired a new stake in shares of Royal Caribbean Cruises in the 2nd quarter valued at about $27,000. Creekmur Asset Management LLC purchased a new position in Royal Caribbean Cruises during the 4th quarter worth approximately $30,000. Versant Capital Management Inc grew its stake in Royal Caribbean Cruises by 905.3% during the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after buying an additional 172 shares during the last quarter. Finally, AlphaMark Advisors LLC increased its position in Royal Caribbean Cruises by 233.3% during the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock worth $32,000 after buying an additional 140 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RCL has been the subject of several research analyst reports. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. The Goldman Sachs Group raised their price objective on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Barclays upped their target price 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. Susquehanna raised their price target on Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Finally, Macquarie boosted their price target on Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $184.13.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the sale, the insider now directly owns 27,388 shares in the company, valued at approximately $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Naftali Holtz bought 5,350 shares of Royal Caribbean Cruises stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $140.00 per share, with a total value of $749,000.00. Following the purchase, the chief financial officer now owns 48,256 shares in the company, valued at $6,755,840. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the transaction, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.95% of the stock is currently owned by company insiders.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock opened at $179.46 on Friday. The company has a market cap of $46.18 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 0.51 and a beta of 2.61. Royal Caribbean Cruises Ltd. has a one year low of $78.35 and a one year high of $184.41. The business has a fifty day moving average of $162.97 and a two-hundred day moving average of $152.63. 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 announced its quarterly earnings data on Thursday, July 25th. The company reported $3.21 EPS for the quarter, beating the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter last year, the business earned $1.82 earnings per share. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, analysts predict that Royal Caribbean Cruises Ltd. will post 11.63 earnings per share 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. Investors of record on Friday, September 20th will be issued a $0.40 dividend. The ex-dividend date is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio is currently 20.62%.

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.