Diametric Capital LP Sells 2,429 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Diametric Capital LP trimmed its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 64.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,314 shares of the company’s stock after selling 2,429 shares during the quarter. Diametric Capital LP’s holdings in Royal Caribbean Cruises were worth $303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. increased its stake in shares of Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock valued at $27,000 after purchasing an additional 99 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in shares of Royal Caribbean Cruises in the 3rd quarter worth approximately $27,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $36,000. Truvestments Capital LLC bought a new position in Royal Caribbean Cruises during the 4th quarter valued at approximately $36,000. Finally, ORG Wealth Partners LLC purchased a new position in Royal Caribbean Cruises during the fourth quarter valued at $40,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Price Performance

NYSE RCL opened at $207.87 on Wednesday. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $55.94 billion, a P/E ratio of 19.44, a PEG ratio of 0.90 and a beta of 2.53. The company has a 50-day moving average price of $237.20 and a 200-day moving average price of $224.72. Royal Caribbean Cruises Ltd. has a 52 week low of $125.06 and a 52 week high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company earned $1.25 earnings per share. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, March 7th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a yield of 1.44%. Royal Caribbean Cruises’s payout ratio is 28.06%.

Royal Caribbean Cruises announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wells Fargo & Company increased their target price on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. BNP Paribas began coverage on shares of Royal Caribbean Cruises in a research report on Thursday, March 27th. They set an “outperform” rating and a $262.00 price objective on the stock. Citigroup lifted their target price on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Tigress Financial increased their price target on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group decreased their price objective on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $279.58.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the transaction, the director now directly owns 185,021 shares of the company’s stock, valued at $47,491,190.28. The trade was a 9.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Naftali Holtz sold 17,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the completion of the sale, the chief financial officer now directly owns 42,127 shares of the company’s stock, valued at $11,021,265.74. This represents a 28.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,492 shares of company stock valued at $28,571,705. Company insiders own 7.95% of the company’s stock.

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.