Intech Investment Management LLC Trims Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Intech Investment Management LLC lessened its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 30.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,775 shares of the company’s stock after selling 23,487 shares during the period. Intech Investment Management LLC’s holdings in Royal Caribbean Cruises were worth $8,414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of RCL. Scarborough Advisors LLC purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter worth $26,000. Unique Wealth Strategies LLC purchased a new stake in Royal Caribbean Cruises in the 2nd quarter valued at about $27,000. Creekmur Asset Management LLC purchased a new stake in Royal Caribbean Cruises in the 4th quarter valued at about $30,000. Versant Capital Management Inc raised its holdings in Royal Caribbean Cruises by 905.3% in the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after buying an additional 172 shares during the period. Finally, AlphaMark Advisors LLC raised its holdings in Royal Caribbean Cruises by 233.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on RCL. Argus boosted their price objective on shares of Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Tigress Financial boosted their price objective on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus boosted their price objective on shares of Royal Caribbean Cruises from $180.00 to $200.00 and gave the company a “buy” rating in a report on Friday, July 19th. Macquarie boosted their price objective on shares of Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Finally, Bank of America lifted their target price on Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $182.31.

Insider Transactions at Royal Caribbean Cruises

In other news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Naftali Holtz acquired 5,350 shares of Royal Caribbean Cruises stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $140.00 per share, with a total value of $749,000.00. Following the transaction, the chief financial officer now directly owns 48,256 shares in the company, valued at approximately $6,755,840. The disclosure for this purchase can be found here. Insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Stock Up 1.4 %

Shares of Royal Caribbean Cruises stock opened at $173.99 on Friday. Royal Caribbean Cruises Ltd. has a 52-week low of $78.35 and a 52-week high of $174.48. The company has a 50 day moving average of $160.46 and a 200 day moving average of $149.22. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20. The company has a market capitalization of $44.78 billion, a P/E ratio of 22.42, a P/E/G ratio of 0.49 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.45. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.82 earnings per share. As a group, research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 20th.

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.