Sound Income Strategies LLC Sells 400 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Sound Income Strategies LLC cut its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 50.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 386 shares of the company’s stock after selling 400 shares during the quarter. Sound Income Strategies LLC’s holdings in Royal Caribbean Cruises were worth $54,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. BKM Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at about $26,000. Scarborough Advisors LLC purchased a new stake in Royal Caribbean Cruises during the 4th quarter valued at about $26,000. Creekmur Asset Management LLC purchased a new stake in Royal Caribbean Cruises during the 4th quarter valued at about $30,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Royal Caribbean Cruises during the 4th quarter valued at about $33,000. Finally, West Branch Capital LLC boosted its holdings in Royal Caribbean Cruises by 50.0% during the 4th quarter. West Branch Capital LLC now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Trading Up 0.4 %

Shares of NYSE:RCL opened at $161.34 on Thursday. The company has a market cap of $41.52 billion, a P/E ratio of 20.79, a PEG ratio of 0.48 and a beta of 2.56. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises Ltd. has a 1 year low of $78.35 and a 1 year high of $161.68. The stock’s fifty day moving average price is $145.46 and its 200-day moving average price is $132.92.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.44. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.69 billion. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The company’s quarterly revenue was up 29.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.23) earnings per share. Sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 11.1 earnings per share for the current year.

Insider Activity

In other news, CEO Jason T. Liberty sold 50,000 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the transaction, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at $21,365,763.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Richard D. Fain sold 19,584 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the completion of the sale, the director now owns 179,117 shares in the company, valued at $27,576,853.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason T. Liberty sold 50,000 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $139.63, for a total value of $6,981,500.00. Following the sale, the chief executive officer now owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The disclosure for this sale can be found here. Insiders have sold a total of 152,884 shares of company stock valued at $22,052,985 over the last ninety days. 7.95% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RCL has been the subject of several analyst reports. Mizuho increased their target price on Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a “buy” rating in a report on Friday, April 26th. Macquarie raised their target price on Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Citigroup raised their target price on Royal Caribbean Cruises from $165.00 to $204.00 and gave the company a “buy” rating in a research note on Wednesday. The Goldman Sachs Group restated a “buy” rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Finally, Truist Financial raised their target price on Royal Caribbean Cruises from $151.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $161.13.

Royal Caribbean Cruises 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.