Penserra Capital Management LLC Has $1.91 Million Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Penserra Capital Management LLC lowered its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 30.3% in the 1st quarter, according to its most recent filing with the SEC. 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Concurrent Investment Advisors LLC increased its position in shares of Royal Caribbean Cruises by 89.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 7,781 shares of the company's stock worth $1,599,000 after purchasing an additional 3,679 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Royal Caribbean Cruises by 21.8% during the 1st quarter. Bank of New York Mellon Corp now owns 2,991,079 shares of the company's stock valued at $614,487,000 after buying an additional 535,043 shares during the last quarter. World Investment Advisors grew its position in shares of Royal Caribbean Cruises by 23.9% during the 1st quarter. World Investment Advisors now owns 1,685 shares of the company's stock valued at $346,000 after buying an additional 325 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Royal Caribbean Cruises during the 1st quarter valued at about $64,000. Finally, Strategic Blueprint LLC grew its position in shares of Royal Caribbean Cruises by 15.5% during the 1st quarter. Strategic Blueprint LLC now owns 1,357 shares of the company's stock valued at $279,000 after buying an additional 182 shares during the last quarter. Institutional investors own 87.53% of the company's stock.

Royal Caribbean Cruises Trading Down 0.8%

Shares of NYSE:RCL traded down $2.83 during mid-day trading on Friday, hitting $338.53. The stock had a trading volume of 2,285,700 shares, compared to its average volume of 2,360,656. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.15 and a current ratio of 0.18. The company has a market cap of $91.93 billion, a PE ratio of 28.12, a P/E/G ratio of 1.01 and a beta of 2.17. Royal Caribbean Cruises Ltd. has a 12-month low of $130.08 and a 12-month high of $342.56. The company's 50 day moving average is $272.55 and its 200-day moving average is $242.30.

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

Royal Caribbean Cruises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.89%. Royal Caribbean Cruises's dividend payout ratio is currently 24.92%.

Analyst Upgrades and Downgrades

Several research analysts have commented on RCL shares. BNP Paribas started coverage on shares of Royal Caribbean Cruises in a research report on Thursday, March 27th. They issued an "outperform" rating and a $262.00 target price for the company. Loop Capital restated a "buy" rating and issued a $290.00 target price (up previously from $250.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, June 3rd. Stifel Nicolaus upped their target price on shares of Royal Caribbean Cruises from $310.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday. Barclays upped their target price on shares of Royal Caribbean Cruises from $263.00 to $358.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, UBS Group set a $311.00 target price on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of "Moderate Buy" and an average price target of $293.90.

Insider Activity

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the stock in a transaction 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 sale, the director directly owned 165,421 shares of the company's stock, valued at $41,868,055.10. This represents a 10.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.95% of the company's stock.

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.