Bridgefront Capital LLC Has $921,000 Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Bridgefront Capital LLC trimmed its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 22.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,993 shares of the company's stock after selling 1,178 shares during the quarter. Bridgefront Capital LLC's holdings in Royal Caribbean Cruises were worth $921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in RCL. Brown Brothers Harriman & Co. lifted its holdings in Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after acquiring an additional 99 shares during the last quarter. Bay Harbor Wealth Management LLC acquired a new stake in Royal Caribbean Cruises in the fourth quarter worth $36,000. Truvestments Capital LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter valued at $36,000. ORG Wealth Partners LLC acquired a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at $40,000. Finally, Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Royal Caribbean Cruises by 100.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 200 shares of the company's stock valued at $46,000 after acquiring an additional 100 shares during the period. 87.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total value of $15,193,100.00. Following the transaction, the chief executive officer now owns 143,214 shares in the company, valued at approximately $37,514,907.30. This represents a 28.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Naftali Holtz sold 17,000 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the sale, the chief financial officer now directly owns 42,127 shares of the company's stock, valued at $11,021,265.74. This trade represents a 28.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,492 shares of company stock valued at $28,571,705 in the last 90 days. 7.95% of the stock is currently owned by corporate insiders.

Royal Caribbean Cruises Trading Up 0.4 %

NYSE RCL traded up $0.85 on Friday, hitting $233.69. 1,140,333 shares of the company were exchanged, compared to its average volume of 2,294,466. Royal Caribbean Cruises Ltd. has a twelve month low of $130.08 and a twelve month high of $277.08. The company's 50 day moving average price is $208.45 and its 200-day moving average price is $227.97. The firm has a market capitalization of $63.46 billion, a P/E ratio of 21.86, a price-to-earnings-growth 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.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. 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 firm earned $1.77 EPS. The firm's quarterly revenue was up 7.3% on a year-over-year basis. Analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises announced that its board has authorized a share repurchase program on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 1.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Royal Caribbean Cruises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.28%. Royal Caribbean Cruises's payout ratio is presently 24.92%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Argus increased their price objective on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Macquarie dropped their price target on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating on the stock in a research note on Friday. BNP Paribas began coverage on Royal Caribbean Cruises in a research report on Thursday, March 27th. They set an "outperform" rating and a $262.00 price objective for the company. Jefferies Financial Group began coverage on Royal Caribbean Cruises in a research report on Monday, March 31st. They issued a "hold" rating and a $230.00 target price on the stock. Finally, Northcoast Research initiated coverage on Royal Caribbean Cruises in a research report on Friday, April 25th. They set a "buy" rating and a $279.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $271.30.

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.