Latitude Advisors LLC Cuts Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Latitude Advisors LLC lessened its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCLFree Report) by 1.4% in the fourth quarter, Holdings Channel reports. The firm owned 3,157 shares of the company’s stock after selling 46 shares during the period. Latitude Advisors LLC’s holdings in Royal Caribbean Cruises were worth $728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in RCL. Plato Investment Management Ltd purchased a new position in Royal Caribbean Cruises in the third quarter valued at about $26,000. Safe Harbor Fiduciary LLC purchased a new position in Royal Caribbean Cruises in the third quarter valued at approximately $27,000. Bay Harbor Wealth Management LLC bought a new position in Royal Caribbean Cruises during the fourth quarter valued at $36,000. DiNuzzo Private Wealth Inc. increased its position in Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after buying an additional 121 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at $40,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Down 1.2 %

Shares of NYSE:RCL opened at $261.14 on Tuesday. The firm has a market capitalization of $70.22 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 1.00 and a beta of 2.59. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. Royal Caribbean Cruises Ltd. has a 52-week low of $113.10 and a 52-week high of $277.08. The firm has a fifty day moving average of $242.64 and a 200 day moving average of $205.82.

Royal Caribbean Cruises (NYSE:RCLGet Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same period in the previous year, the company posted $1.25 earnings per share. As a group, research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.96 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.84%. Royal Caribbean Cruises’s payout ratio is 20.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RCL shares. Argus boosted their price objective on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Tigress Financial raised their price objective on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Friday. UBS Group boosted their target price on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Truist Financial raised their price target on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $284.12.

Get Our Latest Research Report on Royal Caribbean Cruises

Insider Activity

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the sale, the executive vice president now owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of Royal Caribbean Cruises stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the completion of the transaction, the director now directly owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 372,609 shares of company stock valued at $87,647,208. Corporate insiders own 7.95% of the company’s stock.

About Royal Caribbean Cruises

(Free Report)

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.

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Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

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