Royal Caribbean Cruises Ltd. (NYSE:RCL) Shares Sold by Forum Financial Management LP

Forum Financial Management LP trimmed its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 16.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,971 shares of the company’s stock after selling 592 shares during the period. Forum Financial Management LP’s holdings in Royal Caribbean Cruises were worth $474,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Unique Wealth Strategies LLC acquired a new stake in shares of Royal Caribbean Cruises during the 2nd quarter valued at approximately $27,000. Versant Capital Management Inc raised its position in shares of Royal Caribbean Cruises by 905.3% during the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after acquiring an additional 172 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $26,000. AlphaMark Advisors LLC raised its position in shares of Royal Caribbean Cruises by 233.3% during the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares in the last quarter. Finally, Creekmur Asset Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $30,000. 87.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Royal Caribbean Cruises

In other news, CFO Naftali Holtz bought 5,350 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $140.00 per share, with a total value of $749,000.00. Following the completion of the purchase, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, Director Vagn O. Sorensen sold 5,800 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the completion of the sale, the director now directly owns 25,837 shares of the company’s stock, valued at $4,095,164.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Naftali Holtz bought 5,350 shares of Royal Caribbean Cruises stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $140.00 per share, with a total value of $749,000.00. Following the completion of the acquisition, the chief financial officer now owns 48,256 shares of the company’s stock, valued at $6,755,840. The disclosure for this purchase can be found here. Insiders sold 28,457 shares of company stock valued at $4,452,898 over the last 90 days. 7.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RCL has been the topic of several research reports. Macquarie upped their price target on Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on Royal Caribbean Cruises from $175.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Morgan Stanley increased their target price on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Bank of America increased their target price on Royal Caribbean Cruises from $145.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Argus increased their target price on Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $182.13.

Royal Caribbean Cruises Trading Down 1.3 %

NYSE:RCL opened at $164.62 on Friday. Royal Caribbean Cruises Ltd. has a 1 year low of $78.35 and a 1 year high of $173.37. The stock has a market cap of $42.36 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 0.44 and a beta of 2.62. The business has a fifty day moving average of $158.77 and a 200-day moving average of $144.24. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the prior year, the business posted $1.82 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities analysts predict that Royal Caribbean Cruises Ltd. will post 11.63 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

The company also recently announced a — dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio is currently 20.62%.

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.