Longboard Asset Management LP Makes New $242,000 Investment in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Longboard Asset Management LP purchased a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,048 shares of the company’s stock, valued at approximately $242,000.

Several other hedge funds also recently modified their holdings of the company. Childress Capital Advisors LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter worth about $246,000. Optas LLC bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth about $244,000. CENTRAL TRUST Co increased its stake in shares of Royal Caribbean Cruises by 329.6% in the fourth quarter. CENTRAL TRUST Co now owns 4,283 shares of the company’s stock valued at $988,000 after buying an additional 3,286 shares during the period. McAdam LLC acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $267,000. Finally, U.S. Capital Wealth Advisors LLC raised its holdings in Royal Caribbean Cruises by 564.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 19,242 shares of the company’s stock valued at $4,439,000 after buying an additional 16,345 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $260.98 on Tuesday. The firm has a market capitalization of $70.17 billion, a P/E ratio of 24.41, a P/E/G ratio of 0.98 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 fifty day moving average of $240.36 and a 200-day moving average of $202.36. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate 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 in the prior year, the company earned $1.25 earnings per share. As a group, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.96 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were issued a $0.55 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.20 annualized dividend and a yield of 0.84%. Royal Caribbean Cruises’s payout ratio is currently 20.58%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays boosted their target price on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Morgan Stanley lifted their target price on Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Monday. The Goldman Sachs Group decreased their price target on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Finally, Sanford C. Bernstein started coverage on Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $275.13.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total value of $33,150,685.17. Following the transaction, the director now owns 18,167,507 shares in the company, valued at $4,321,868,240.23. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the sale, the executive vice president now owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 372,609 shares of company stock valued at $87,647,208. Company insiders own 7.95% of the company’s stock.

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.