Centiva Capital LP Takes Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Centiva Capital LP bought a new stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,227 shares of the company's stock, valued at approximately $975,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RCL. Brown Brothers Harriman & Co. raised its holdings in shares of Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after buying an additional 99 shares during the last quarter. Bay Harbor Wealth Management LLC acquired a new position in Royal Caribbean Cruises during the fourth quarter worth $36,000. Truvestments Capital LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter valued at $36,000. ORG Wealth Partners LLC acquired a new position in Royal Caribbean Cruises during the fourth quarter worth $40,000. Finally, Atlantic Edge Private Wealth Management LLC grew its stake in shares of Royal Caribbean Cruises by 100.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company's stock valued at $46,000 after buying an additional 100 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RCL has been the subject of several recent research reports. Loop Capital raised shares of Royal Caribbean Cruises from a "hold" rating to a "buy" rating and set a $250.00 price target for the company in a research report on Wednesday, March 5th. Northcoast Research began coverage on Royal Caribbean Cruises in a research report on Friday, April 25th. They set a "buy" rating and a $279.00 price target on the stock. Melius Research raised Royal Caribbean Cruises to a "strong-buy" rating in a report on Monday, April 21st. Citigroup raised their price target on Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Finally, Argus upped their target price on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $271.30.

Royal Caribbean Cruises Price Performance

NYSE RCL traded up $0.85 on Friday, reaching $233.69. 1,140,333 shares of the stock traded hands, compared to its average volume of 2,303,457. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The company has a market cap of $63.46 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 0.90 and a beta of 2.12. The firm's fifty day simple moving average is $208.59 and its 200 day simple moving average is $228.36. Royal Caribbean Cruises Ltd. has a 12 month low of $130.08 and a 12 month high of $277.08.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.18. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $4.02 billion. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. The business's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 earnings per share. As a group, research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.28%. Royal Caribbean Cruises's dividend payout ratio is 24.92%.

Royal Caribbean Cruises declared that its board has approved a share buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Laura H. Bethge sold 14,992 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the completion of the transaction, the insider now directly owns 21,155 shares of the company's stock, valued at approximately $5,539,648.30. This trade represents a 41.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total value of $15,193,100.00. Following the transaction, the chief executive officer now owns 143,214 shares of the company's stock, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 109,492 shares of company stock valued at $28,571,705. Company insiders own 7.95% of the company's stock.

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.