Royal Caribbean Cruises (NYSE:RCL) Stock: Insider Arne Alexander Wilhelmsen Sells 220,000 Shares

Key Points

• Director Arne Alexander Wilhelmsen sold 220,000 Royal Caribbean shares for about $72.4 million, reducing his stake by 1.34% to roughly 16.2 million shares. He also sold another 30,000 shares the following day for about $9.7 million.
• Royal Caribbean’s latest quarter delivered adjusted strength: EPS of $6.57 beat estimates of $6.38, while revenue of $5.59 billion fell slightly short of expectations but rose 8.8% year over year.
• Analysts give the stock a “Moderate Buy” consensus rating, with an average price target of $355.62. Shares recently traded at $326.86, and the company pays an annualized dividend of $6.00 per share.

Royal Caribbean Cruises Ltd. (NYSE:RCL - Get Free Report) Director Arne Wilhelmsen sold 220,000 shares of the business's stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $329.29, for a total value of $72,443,800.00. Following the transaction, the director owned 16,215,910 shares of the company's stock, valued at approximately $5,339,737,003.90. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 transaction of $9,696,900.00.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL traded up $4.13 during mid-day trading on Friday, reaching $326.86. The company's stock had a trading volume of 1,534,320 shares, compared to its average volume of 2,536,915. The firm has a market capitalization of $87.43 billion, a PE ratio of 19.35, a P/E/G ratio of 1.16 and a beta of 1.88. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.22 and a quick ratio of 0.19. The stock has a fifty day moving average of $274.39 and a two-hundred day moving average of $287.59. Royal Caribbean Cruises Ltd. has a 52 week low of $222.22 and a 52 week high of $356.39.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $6.57 EPS 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 business's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.75 EPS. As a group, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 17.94 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were given a dividend of $1.50 per share. The ex-dividend date was Thursday, September 17th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. Royal Caribbean Cruises's payout ratio is 35.52%.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several institutional investors have recently made changes to their positions in RCL. Bank of America Corp DE acquired a new position in shares of Royal Caribbean Cruises in the 2nd quarter valued at $321,332,000. Envestnet Asset Management Inc. grew its position in Royal Caribbean Cruises by 5.0% during the second quarter. Envestnet Asset Management Inc. now owns 293,714 shares of the company's stock valued at $93,261,000 after buying an additional 14,018 shares during the period. Quantitative Investment Management LLC acquired a new stake in Royal Caribbean Cruises during the second quarter valued at $3,586,000. Proficio Capital Partners LLC acquired a new stake in Royal Caribbean Cruises during the second quarter valued at $650,000. Finally, State of Michigan Retirement System purchased a new position in Royal Caribbean Cruises in the first quarter valued at $18,080,000. Hedge funds and other institutional investors own 87.53% of the company's stock.

Analyst Upgrades and Downgrades

RCL has been the topic of several recent analyst reports. BMO Capital Markets reiterated an "outperform" rating and issued a $370.00 price target on shares of Royal Caribbean Cruises in a report on Wednesday, September 23rd. Stifel Nicolaus raised their price target on Royal Caribbean Cruises from $410.00 to $415.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Freedom Capital cut Royal Caribbean Cruises from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 29th. Barclays upped their price objective on Royal Caribbean Cruises from $337.00 to $350.00 and gave the company an "overweight" rating in a research report on Wednesday, October 28th. Finally, Truist Financial raised their target price on shares of Royal Caribbean Cruises from $297.00 to $298.00 and gave the stock a "hold" rating in a research report on Thursday, September 24th. Twenty-one research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, Royal Caribbean Cruises presently has an average rating of "Moderate Buy" and a consensus price target of $355.62.

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.

Founded in 1968, the company is headquartered in Miami, Florida.

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