Royal Caribbean Cruises Ltd. (NYSE:RCL) Director Sells $4,976,320.00 in Stock

Key Points

• Director Richard D. Fain sold 16,000 shares of Royal Caribbean stock at an average price of $311.02, reducing his position by 9.62%.
• Royal Caribbean's stock dropped 2.7% to $301.43, with a current market capitalization of $81.88 billion.
• Analysts maintain a consensus rating of "Moderate Buy" for Royal Caribbean, with a price target averaging $323.10.

Royal Caribbean Cruises Ltd. (NYSE:RCL - Get Free Report) Director Richard D. Fain sold 16,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $311.02, for a total value of $4,976,320.00. Following the sale, the director directly owned 150,291 shares of the company's stock, valued at $46,743,506.82. This represents a 9.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock traded down $2.93 on Wednesday, hitting $310.15. The company had a trading volume of 509,436 shares, compared to its average volume of 2,529,685. The firm has a market cap of $84.25 billion, a P/E ratio of 23.26, a price-to-earnings-growth ratio of 0.85 and a beta of 2.22. The company has a 50-day moving average price of $310.25 and a 200-day moving average price of $257.43. The company has a quick ratio of 0.21, a current ratio of 0.23 and a debt-to-equity ratio of 1.88. Royal Caribbean Cruises Ltd. has a twelve month low of $150.33 and a twelve month high of $355.91.

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

Hedge Funds Weigh In On Royal Caribbean Cruises

Several institutional investors and hedge funds have recently modified their holdings of RCL. Norges Bank purchased a new position in shares of Royal Caribbean Cruises in the 2nd quarter valued at about $1,021,893,000. Nuveen LLC purchased a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at about $358,614,000. GAMMA Investing LLC increased its stake in shares of Royal Caribbean Cruises by 22,154.9% in the 1st quarter. GAMMA Investing LLC now owns 1,410,962 shares of the company's stock valued at $289,868,000 after purchasing an additional 1,404,622 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Royal Caribbean Cruises by 3,544.4% in the 4th quarter. Janus Henderson Group PLC now owns 963,034 shares of the company's stock valued at $222,166,000 after purchasing an additional 936,609 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Royal Caribbean Cruises by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 29,604,177 shares of the company's stock valued at $9,270,252,000 after purchasing an additional 929,414 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RCL. JPMorgan Chase & Co. raised their price target on Royal Caribbean Cruises from $302.00 to $367.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Wall Street Zen downgraded Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Bank of America lifted their price target on Royal Caribbean Cruises from $230.00 to $355.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Loop Capital reiterated a "buy" rating and issued a $290.00 price target (up from $250.00) on shares of Royal Caribbean Cruises in a report on Tuesday, June 3rd. Finally, TD Cowen assumed coverage on Royal Caribbean Cruises in a research report on Tuesday, July 22nd. They issued a "buy" rating and a $405.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $323.10.

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.