Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Virtu Financial LLC

Key Points

• Virtu Financial LLC has reduced its stake in Royal Caribbean Cruises Ltd. by 55.4%, selling 2,802 shares during the first quarter, bringing its total holding to 2,252 shares valued at $462,000.
• Royal Caribbean Cruises saw a decline in its stock rating, with Wall Street analysts issuing a mix of ratings that include five hold ratings and eighteen buy ratings, positioning a consensus price target at $323.10.
• Insider transactions revealed significant sales, with the chief accounting officer selling over 5,200 shares valued at approximately $1.72 million and overall insider sales totaling $11.65 million in the last quarter.

Virtu Financial LLC lessened its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 55.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,252 shares of the company's stock after selling 2,802 shares during the period. Virtu Financial LLC's holdings in Royal Caribbean Cruises were worth $462,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at about $25,000. Hughes Financial Services LLC purchased a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at about $26,000. Fourth Dimension Wealth LLC purchased a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at about $35,000. Optimum Investment Advisors purchased a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at about $31,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Insider Buying and Selling

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the transaction, the director directly owned 165,421 shares of the company's stock, valued at $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Henry L. Pujol sold 5,207 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $329.47, for a total transaction of $1,715,550.29. Following the transaction, the chief accounting officer directly owned 7,826 shares in the company, valued at approximately $2,578,432.22. The trade was a 39.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,807 shares of company stock worth $11,652,630. 6.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Trading Up 0.4%

RCL stock traded up $1.24 during midday trading on Friday, reaching $313.54. 1,407,483 shares of the company's stock traded hands, compared to its average volume of 2,097,155. The company has a market capitalization of $85.17 billion, a P/E ratio of 23.50, a PEG ratio of 0.88 and a beta of 2.22. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.23 and a quick ratio of 0.21. Royal Caribbean Cruises Ltd. has a fifty-two week low of $154.08 and a fifty-two week high of $355.91. The business has a 50-day moving average price of $312.76 and a two-hundred day moving average price of $258.60.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share for the quarter, beating analysts' consensus estimates of $4.04 by $0.34. The firm had revenue of $4.54 billion for the quarter, compared to analysts' expectations of $4.54 billion. Royal Caribbean Cruises had a net margin of 20.97% and a return on equity of 47.15%. Royal Caribbean Cruises's revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.21 earnings per share. Equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. TD Cowen began coverage on shares of Royal Caribbean Cruises in a report on Tuesday, July 22nd. They issued a "buy" rating and a $405.00 price target for the company. JPMorgan Chase & Co. raised their target price on shares of Royal Caribbean Cruises from $302.00 to $367.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Morgan Stanley raised their target price on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Citigroup raised their target price on shares of Royal Caribbean Cruises from $390.00 to $399.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a report on Monday, April 21st. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $323.10.

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.