Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP reduced its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 76.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,731 shares of the company’s stock after selling 44,050 shares during the period. Pinnbrook Capital Management LP’s holdings in Royal Caribbean Cruises were worth $3,168,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd acquired a new stake in shares of Royal Caribbean Cruises during the third quarter valued at about $26,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Royal Caribbean Cruises during the third quarter valued at about $27,000. Bay Harbor Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at about $36,000. ORG Wealth Partners LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at about $40,000. Finally, LRI Investments LLC acquired a new stake in shares of Royal Caribbean Cruises during the third quarter valued at about $31,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the transaction, the director now directly owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard D. Fain sold 19,500 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the transaction, the director now owns 185,021 shares in the company, valued at $47,491,190.28. The trade was a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 162,109 shares of company stock worth $38,919,868 over the last ninety days. Corporate insiders own 7.95% of the company’s stock.

Analyst Ratings Changes

RCL has been the topic of several research analyst reports. Stifel Nicolaus increased their price target on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Susquehanna increased their price target on shares of Royal Caribbean Cruises from $245.00 to $305.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Sanford C. Bernstein initiated coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price target on the stock. Loop Capital began coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, February 4th. They set a “hold” rating and a $250.00 price target on the stock. Finally, Tigress Financial raised their target price on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $284.12.

Royal Caribbean Cruises Stock Performance

NYSE RCL opened at $262.99 on Tuesday. The stock has a market cap of $70.71 billion, a P/E ratio of 24.60, a PEG ratio of 1.00 and a beta of 2.59. Royal Caribbean Cruises Ltd. has a twelve month low of $113.10 and a twelve month high of $277.08. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The company’s 50-day simple moving average is $243.57 and its 200 day simple moving average is $209.50.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same period last year, the firm earned $1.25 EPS. As a group, research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.96 earnings per share for the current fiscal year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a yield of 1.14%. Royal Caribbean Cruises’s payout ratio is 20.58%.

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.