Park Avenue Securities LLC Reduces Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Park Avenue Securities LLC decreased its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 22.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,519 shares of the company’s stock after selling 1,588 shares during the period. Park Avenue Securities LLC’s holdings in Royal Caribbean Cruises were worth $979,000 as of its most recent SEC filing.

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

Insider Buying and Selling 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 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 completion of the sale, the insider now directly owns 27,388 shares in the company, valued at $4,620,629.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value of $518,445.83. Following the transaction, the insider now owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Vagn O. Sorensen sold 5,800 shares of the company’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 sale, the director now directly owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.95% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Price Performance

RCL opened at $193.03 on Thursday. The company’s 50-day simple moving average is $164.00 and its two-hundred day simple moving average is $153.56. Royal Caribbean Cruises Ltd. has a 52-week low of $78.35 and a 52-week high of $193.21. The stock has a market capitalization of $49.68 billion, a P/E ratio of 24.88, a P/E/G ratio of 0.50 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.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.45. The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the company posted $1.82 earnings per share. As a group, analysts predict that Royal Caribbean Cruises Ltd. will post 11.63 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 20.62%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RCL shares. The Goldman Sachs Group increased their price target on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Tigress Financial lifted their target price on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Citigroup upped their price target on Royal Caribbean Cruises from $204.00 to $253.00 and gave the stock a “buy” rating in a research note on Wednesday. Mizuho lifted their price objective on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Bank of America increased their target price on Royal Caribbean Cruises from $145.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $187.19.

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.