Tidal Investments LLC Cuts Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Tidal Investments LLC cut its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 20.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,090 shares of the company’s stock after selling 4,845 shares during the quarter. Tidal Investments LLC’s holdings in Royal Caribbean Cruises were worth $3,386,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Plato Investment Management Ltd bought a new stake in shares of Royal Caribbean Cruises during the third quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC purchased a new stake in Royal Caribbean Cruises during the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. boosted its stake in Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares during the last quarter. Unique Wealth Strategies LLC bought a new stake in shares of Royal Caribbean Cruises in the 2nd quarter worth $27,000. Finally, LRI Investments LLC bought a new position in shares of Royal Caribbean Cruises during the third quarter valued at $31,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Performance

Shares of RCL opened at $245.17 on Friday. Royal Caribbean Cruises Ltd. has a 52 week low of $113.10 and a 52 week high of $258.70. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The stock has a market cap of $65.92 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 0.65 and a beta of 2.59. The business has a 50-day simple moving average of $222.37 and a two-hundred day simple moving average of $182.13.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the firm posted $3.85 EPS. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 22.61%.

Insider Buying and Selling

In related news, Director Richard D. Fain sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the transaction, the director now directly owns 204,521 shares of the company’s stock, valued at approximately $42,953,500.42. The trade was a 10.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the sale, the chief accounting officer now directly owns 9,964 shares of the company’s stock, valued at approximately $2,077,593.64. This trade represents a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 404,332 shares of company stock valued at $94,299,521. Company insiders own 7.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RCL. Stifel Nicolaus lifted their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Bank of America lifted their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Wells Fargo & Company increased their price objective on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Macquarie lifted their target price on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group increased their price target on Royal Caribbean Cruises from $245.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.75.

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.