GAMMA Investing LLC Has $289.87 Million Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

GAMMA Investing LLC boosted its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 22,154.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,410,962 shares of the company's stock after purchasing an additional 1,404,622 shares during the period. GAMMA Investing LLC owned approximately 0.52% of Royal Caribbean Cruises worth $289,868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC increased its holdings in shares of Royal Caribbean Cruises by 511.0% during the 4th quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company's stock valued at $498,000 after acquiring an additional 1,804 shares during the last quarter. Lorne Steinberg Wealth Management Inc. bought a new position in Royal Caribbean Cruises in the 4th quarter valued at $231,000. Geode Capital Management LLC boosted its position in shares of Royal Caribbean Cruises by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock worth $1,373,856,000 after purchasing an additional 353,893 shares during the last quarter. Principal Financial Group Inc. raised its stake in Royal Caribbean Cruises by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 291,027 shares of the company's stock worth $67,137,000 after buying an additional 7,740 shares during the period. Finally, Dorsey Wright & Associates acquired a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at about $4,221,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction on Monday, May 19th. The stock was sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of the transaction, the director now owns 165,421 shares in the company, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.95% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RCL shares. Morgan Stanley upped their target price on Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Barclays raised their target price on Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Melius Research raised Royal Caribbean Cruises to a "strong-buy" rating in a research report on Monday, April 21st. Susquehanna decreased their price target on Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating for the company in a research report on Wednesday, April 30th. Finally, UBS Group set a $311.00 target price on Royal Caribbean Cruises and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of "Moderate Buy" and an average target price of $273.95.

Royal Caribbean Cruises Stock Performance

Shares of RCL traded up $0.36 during mid-day trading on Wednesday, reaching $266.37. 481,406 shares of the company's stock traded hands, compared to its average volume of 2,270,636. The business's 50-day moving average price is $220.49 and its 200-day moving average price is $232.25. The stock has a market capitalization of $72.34 billion, a P/E ratio of 24.92, a price-to-earnings-growth ratio of 0.90 and a beta of 2.14. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. 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 results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the business posted $1.77 earnings per share. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. Equities analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Royal Caribbean Cruises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.13%. Royal Caribbean Cruises's dividend payout ratio is currently 24.92%.

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.