Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 1,246.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,144 shares of the company's stock after buying an additional 76,967 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Royal Caribbean Cruises were worth $17,081,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. grew its position 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 valued at $27,000 after purchasing an additional 99 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $35,000. Truvestments Capital LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $36,000. Capital A Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $40,000. Finally, Spurstone Advisory Services LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $46,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RCL. The Goldman Sachs Group dropped their target price on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. UBS Group set a $311.00 price target on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Northcoast Research assumed coverage on shares of Royal Caribbean Cruises in a research note on Friday, April 25th. They issued a "buy" rating and a $279.00 price target on the stock. Barclays raised their price target on shares of Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Finally, Susquehanna decreased their price target on shares of Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating on the stock in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $276.90.

Insider Activity

In other news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total value of $4,960,760.00. Following the sale, the director now directly owns 165,421 shares of the company's stock, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.95% of the company's stock.

Royal Caribbean Cruises Trading Down 3.0%

RCL stock traded down $7.96 during trading on Friday, reaching $257.77. 2,791,111 shares of the stock were exchanged, compared to its average volume of 2,293,849. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The business has a 50 day moving average price of $232.33 and a 200-day moving average price of $233.97. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $279.89. The firm has a market capitalization of $70.00 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 0.90 and a beta of 2.14.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.18. The business had revenue of $4 billion for the quarter, compared to the consensus estimate 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 revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.77 EPS. On average, research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.16%. Royal Caribbean Cruises's dividend payout ratio (DPR) is 24.92%.

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.