Penserra Capital Management LLC Lowers Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Penserra Capital Management LLC reduced its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 30.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,317 shares of the company's stock after selling 4,051 shares during the period. Penserra Capital Management LLC's holdings in Royal Caribbean Cruises were worth $1,913,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Royal Caribbean Cruises by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock worth $1,373,856,000 after acquiring an additional 353,893 shares during the period. Dorsey Wright & Associates acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $4,221,000. Revisor Wealth Management LLC bought a new stake in shares of Royal Caribbean Cruises in the 1st quarter valued at $1,525,000. Groupama Asset Managment bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at $1,122,000. Finally, Brown Miller Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the first quarter worth $266,000. 87.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of the firm'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 completion of the transaction, the director directly owned 165,421 shares of the company's stock, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.95% of the stock is owned by insiders.

Royal Caribbean Cruises Stock Performance

NYSE RCL traded up $2.42 during trading hours on Wednesday, reaching $332.62. 1,932,994 shares of the company were exchanged, compared to its average volume of 2,362,965. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $90.33 billion, a P/E ratio of 27.63, a P/E/G ratio of 0.98 and a beta of 2.17. Royal Caribbean Cruises Ltd. has a 1 year low of $130.08 and a 1 year high of $336.63. The business's 50 day simple moving average is $265.60 and its 200-day simple moving average is $240.27.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $4.02 billion. During the same quarter in the previous year, the firm posted $1.77 EPS. Royal Caribbean Cruises's revenue was up 7.3% on a year-over-year basis. On average, equities research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.90%. Royal Caribbean Cruises's dividend payout ratio is presently 24.92%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RCL shares. Susquehanna cut their price target on Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating on the stock in a report on Wednesday, April 30th. Truist Financial upped their price objective on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a report on Monday, May 19th. Jefferies Financial Group raised their target price on Royal Caribbean Cruises from $235.00 to $315.00 and gave the company a "hold" rating in a research note on Monday. UBS Group set a $311.00 target price on Royal Caribbean Cruises and gave the company a "buy" rating in a research report on Tuesday, May 20th. Finally, Northcoast Research initiated coverage on Royal Caribbean Cruises in a research note on Friday, April 25th. They issued a "buy" rating and a $279.00 price objective for the company. Four 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 data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $293.90.

Royal Caribbean Cruises 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.