Voloridge Investment Management LLC Sells 112,546 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Voloridge Investment Management LLC reduced its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 37.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,672 shares of the company's stock after selling 112,546 shares during the period. Voloridge Investment Management LLC owned approximately 0.07% of Royal Caribbean Cruises worth $43,294,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in Royal Caribbean Cruises by 7.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,177 shares of the company's stock valued at $1,425,000 after acquiring an additional 438 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Royal Caribbean Cruises by 2.4% during the 4th quarter. HB Wealth Management LLC now owns 7,552 shares of the company's stock valued at $1,742,000 after buying an additional 178 shares in the last quarter. Grove Bank & Trust lifted its position in Royal Caribbean Cruises by 10.5% in the 4th quarter. Grove Bank & Trust now owns 613 shares of the company's stock worth $141,000 after buying an additional 58 shares during the last quarter. Annex Advisory Services LLC bought a new stake in Royal Caribbean Cruises in the 4th quarter worth approximately $217,000. Finally, UMB Bank n.a. boosted its stake in Royal Caribbean Cruises by 25.9% in the fourth quarter. UMB Bank n.a. now owns 2,079 shares of the company's stock worth $480,000 after buying an additional 428 shares in the last quarter. Institutional investors own 87.53% of the company's stock.

Insiders Place Their Bets

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 transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RCL shares. Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a report on Monday, April 21st. Jefferies Financial Group assumed coverage on shares of Royal Caribbean Cruises in a research report on Monday, March 31st. They set a "hold" rating and a $230.00 price target for the company. Citigroup lifted their price objective on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Susquehanna lowered their target price on Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating for the company in a research note on Wednesday, April 30th. Finally, Macquarie reduced their price target on Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $271.95.

Royal Caribbean Cruises Trading Up 0.8%

RCL stock traded up $1.95 during trading on Friday, reaching $240.35. The company had a trading volume of 1,200,639 shares, compared to its average volume of 2,270,320. The company has a market cap of $65.27 billion, a P/E ratio of 22.48, a PEG ratio of 0.90 and a beta of 2.12. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The business has a 50 day moving average of $214.68 and a 200 day moving average of $230.84. Royal Caribbean Cruises Ltd. has a 52 week low of $130.08 and a 52 week high of $277.08.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the company earned $1.77 earnings per share. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises declared that its board has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 1.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

Royal Caribbean Cruises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.25%. Royal Caribbean Cruises's 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.