Left Brain Wealth Management LLC Invests $499,000 in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Left Brain Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,430 shares of the company's stock, valued at approximately $499,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RCL. Financial Gravity Asset Management Inc. purchased a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at approximately $25,000. Hughes Financial Services LLC purchased a new stake in shares of Royal Caribbean Cruises during the first quarter worth approximately $26,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after purchasing an additional 99 shares during the period. Optimum Investment Advisors purchased a new position in Royal Caribbean Cruises in the 1st quarter valued at $31,000. Finally, Fourth Dimension Wealth LLC purchased a new position in Royal Caribbean Cruises in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 87.53% of the company's stock.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of the company's 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 sale, the director directly owned 165,421 shares in the company, valued at $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.95% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wall Street Zen cut shares of Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. UBS Group set a $311.00 price objective on shares of Royal Caribbean Cruises and gave the company a "buy" rating in a research report on Tuesday, May 20th. 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 target price on the stock. Jefferies Financial Group increased their target price on Royal Caribbean Cruises from $235.00 to $315.00 and gave the stock a "hold" rating in a research note on Monday, July 7th. Finally, Loop Capital restated a "buy" rating and issued a $290.00 price target (up from $250.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, June 3rd. Four equities research 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $293.90.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL opened at $338.53 on Friday. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21. The company's 50-day moving average price is $272.55 and its 200 day moving average price is $242.32. Royal Caribbean Cruises Ltd. has a 52 week low of $130.08 and a 52 week high of $342.56. The stock has a market cap of $91.93 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 1.00 and a beta of 2.17.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 0.89%. Royal Caribbean Cruises's payout ratio is 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.

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