Insider Selling: Royal Caribbean Cruises Ltd. (NYSE:RCL) CEO Sells 7,800 Shares of Stock

Royal Caribbean Cruises Ltd. (NYSE:RCL) CEO Michael W. Bayley sold 7,800 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $105.00, for a total value of $819,000.00. Following the completion of the transaction, the chief executive officer now directly owns 94,391 shares in the company, valued at approximately $9,911,055. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Royal Caribbean Cruises Trading Up 0.3 %

Royal Caribbean Cruises stock traded up $0.27 during mid-day trading on Monday, hitting $105.81. 1,747,181 shares of the company’s stock were exchanged, compared to its average volume of 3,498,772. Royal Caribbean Cruises Ltd. has a fifty-two week low of $47.91 and a fifty-two week high of $112.95. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.90. The firm has a market capitalization of $27.11 billion, a P/E ratio of 33.14 and a beta of 2.45. The company’s 50 day simple moving average is $91.22 and its 200-day simple moving average is $93.59.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, October 26th. The company reported $3.85 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.42. The business had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Royal Caribbean Cruises had a return on equity of 34.59% and a net margin of 6.98%. Royal Caribbean Cruises’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 EPS. On average, equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 6.59 earnings per share for the current year.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several large investors have recently made changes to their positions in RCL. Sciencast Management LP acquired a new stake in Royal Caribbean Cruises during the 2nd quarter valued at $705,000. Savant Capital LLC grew its position in shares of Royal Caribbean Cruises by 9.4% in the second quarter. Savant Capital LLC now owns 6,983 shares of the company’s stock valued at $724,000 after purchasing an additional 602 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Royal Caribbean Cruises by 1.1% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,205 shares of the company’s stock valued at $1,992,000 after purchasing an additional 201 shares during the period. Mackenzie Financial Corp grew its holdings in Royal Caribbean Cruises by 905.5% in the 2nd quarter. Mackenzie Financial Corp now owns 200,171 shares of the company’s stock valued at $20,658,000 after buying an additional 180,264 shares in the last quarter. Finally, Mirabella Financial Services LLP acquired a new stake in shares of Royal Caribbean Cruises during the second quarter worth $1,554,000. Institutional investors and hedge funds own 75.64% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on RCL. Tigress Financial raised their price objective on shares of Royal Caribbean Cruises from $102.00 to $139.00 in a research report on Tuesday, August 15th. HSBC began coverage on shares of Royal Caribbean Cruises in a report on Monday, October 23rd. They issued a “buy” rating and a $115.00 price target for the company. Truist Financial raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and upped their price objective for the stock from $115.00 to $137.00 in a report on Tuesday, September 19th. Stifel Nicolaus lowered their target price on Royal Caribbean Cruises from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, September 15th. Finally, StockNews.com began coverage on Royal Caribbean Cruises in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and an average price target of $111.00.

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 13, 2023, it operated 64 ships. The company was founded in 1968 and is headquartered in Miami, Florida.