Insider Selling: Royal Caribbean Cruises (NYSE:RCL) Director Sells 150,000 Shares of Stock

Key Points

• Royal Caribbean director Arne Wilhelmsen sold 150,000 shares for about $50.7 million at an average price of $338.11, reducing his stake by 0.95%. He retained about 15.56 million shares.
• Wilhelmsen also made several other sales during the period; the article reports his listed transactions totaled approximately $303.4 million.
• Royal Caribbean’s latest quarter beat earnings-per-share expectations ($6.57 versus $6.38), while revenue of $5.59 billion came in slightly below estimates. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $358.88.

Royal Caribbean Cruises Ltd. (NYSE:RCL - Get Free Report) Director Arne Wilhelmsen sold 150,000 shares of the stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $338.11, for a total transaction of $50,716,500.00. Following the transaction, the director owned 15,559,236 shares in the company, valued at approximately $5,260,733,283.96. This trade represents a 0.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arne Alexander Wilhelmsen also recently made the following trade(s):

• On Thursday, November 12th, Arne Wilhelmsen sold 35,000 shares of Royal Caribbean Cruises stock. The stock was sold at an average price of $325.50, for a total transaction of $11,392,500.00.
• On Tuesday, November 10th, Arne Wilhelmsen sold 168,530 shares of Royal Caribbean Cruises stock. The stock was sold at an average price of $338.98, for a total transaction of $57,128,299.40.
• On Monday, November 9th, Arne Wilhelmsen sold 175,672 shares of Royal Caribbean Cruises stock. The stock was sold at an average price of $338.46, for a total transaction of $59,457,945.12.
• On Friday, November 6th, Arne Wilhelmsen sold 132,472 shares of Royal Caribbean Cruises stock. The stock was sold at an average price of $326.39, for a total value of $43,237,536.08.
• On Thursday, November 5th, Arne Wilhelmsen sold 30,000 shares of Royal Caribbean Cruises stock. The stock was sold at an average price of $323.23, for a total value of $9,696,900.00.
• On Wednesday, November 4th, Arne Wilhelmsen sold 220,000 shares of Royal Caribbean Cruises stock. The shares were sold at an average price of $329.29, for a total value of $72,443,800.00.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL traded up $1.36 during trading on Friday, hitting $323.36. The company's stock had a trading volume of 1,248,044 shares, compared to its average volume of 2,520,656. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.22 and a quick ratio of 0.19. Royal Caribbean Cruises Ltd. has a 12 month low of $222.22 and a 12 month high of $356.39. The firm has a market cap of $86.49 billion, a price-to-earnings ratio of 19.14, a P/E/G ratio of 1.17 and a beta of 1.88. The company has a 50-day moving average of $280.34 and a 200-day moving average of $288.84.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $6.57 earnings per share for the quarter, topping the consensus estimate of $6.38 by $0.19. The business had revenue of $5.59 billion for the quarter, compared to analysts' expectations of $5.61 billion. Royal Caribbean Cruises had a net margin of 23.78% and a return on equity of 43.40%. The company's revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $5.75 EPS. On average, sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 17.94 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $6.00 annualized dividend and a yield of 1.9%. Royal Caribbean Cruises's payout ratio is currently 35.52%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Royal Caribbean Cruises in the second quarter valued at about $6,549,422,000. Sanders Capital LLC lifted its position in shares of Royal Caribbean Cruises by 85.7% during the third quarter. Sanders Capital LLC now owns 4,835,116 shares of the company's stock valued at $1,285,464,000 after buying an additional 2,231,864 shares during the last quarter. Primecap Management Co. CA purchased a new stake in shares of Royal Caribbean Cruises during the second quarter valued at about $669,804,000. Jupiter Topco LLC bought a new stake in shares of Royal Caribbean Cruises in the 2nd quarter valued at about $597,350,000. Finally, Legal & General Group Plc bought a new stake in shares of Royal Caribbean Cruises in the 2nd quarter valued at about $413,449,000. Institutional investors own 87.53% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RCL shares. Weiss Ratings lowered Royal Caribbean Cruises from a "buy (b-)" rating to a "hold (c)" rating in a research note on Wednesday, October 28th. Truist Financial lifted their target price on Royal Caribbean Cruises from $297.00 to $298.00 and gave the company a "hold" rating in a research note on Thursday, September 24th. The Goldman Sachs Group reissued a "buy" rating and issued a $358.00 price target on shares of Royal Caribbean Cruises in a report on Wednesday, October 28th. Freedom Capital downgraded Royal Caribbean Cruises from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $355.00 price objective (down from $380.00) on shares of Royal Caribbean Cruises in a report on Wednesday, September 23rd. Twenty-one analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises has a consensus rating of "Moderate Buy" and a consensus target price of $358.88.

Royal Caribbean Cruises News Roundup

These are some of the RCL news items that stood out recently:

• Positive Sentiment: Zacks highlighted RCL as a strong growth stock, which may attract investors seeking companies with growth characteristics. The article’s excerpt does not provide specific forecasts or new company results. Article: Here's Why Royal Caribbean (RCL) is a Strong Growth Stock
• Neutral Sentiment: Royal Caribbean held a naming ceremony for its new Legend of the Seas ship. The event reinforces the company’s fleet and vacation offering, but the announcement provides no new financial or booking details. Article: Royal Caribbean Celebrates Legend of the Seas in Veterans Day Naming Ceremony
• Negative Sentiment: Three reports describe Royal Caribbean directors selling shares worth approximately $159.8 million in total. Large insider sales can weigh on sentiment, although the headlines do not explain the reasons for the transactions. Article: Director Sells $43,237,536.08 in Stock Article: Director Sells $59,457,945.12 in Stock Article: Director Sells $57,128,299.40 in Stock

Royal Caribbean Cruises Company Profile

Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a global cruise vacation company. Its brands include Royal Caribbean International, Celebrity Cruises and Silversea Cruises, which offer voyages ranging from large-ship family vacations to premium and luxury experiences. The company serves travelers through itineraries to destinations around the world, including the Caribbean, Europe, Alaska and Asia. Its vacation offerings combine onboard accommodations, dining and entertainment with shore excursions and visits to ports and private destinations.

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