Renaissance Technologies LLC cut its position in Royal Caribbean Cruises Ltd (NYSE:RCL) by 79.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,188 shares of the company’s stock after selling 227,712 shares during the quarter. Renaissance Technologies LLC’s holdings in Royal Caribbean Cruises were worth $6,028,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake in Royal Caribbean Cruises by 2.8% in the 2nd quarter. Swiss National Bank now owns 565,238 shares of the company’s stock valued at $58,559,000 after purchasing an additional 15,600 shares during the period. Field & Main Bank boosted its stake in Royal Caribbean Cruises by 9.1% in the 2nd quarter. Field & Main Bank now owns 8,355 shares of the company’s stock valued at $942,000 after purchasing an additional 695 shares during the period. Fred Alger Management Inc. boosted its stake in Royal Caribbean Cruises by 60.8% in the 2nd quarter. Fred Alger Management Inc. now owns 15,898 shares of the company’s stock valued at $1,647,000 after purchasing an additional 6,012 shares during the period. Alps Advisors Inc. bought a new stake in Royal Caribbean Cruises in the 2nd quarter valued at $531,000. Finally, NN Investment Partners Holdings N.V. boosted its stake in Royal Caribbean Cruises by 58.7% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 179,547 shares of the company’s stock valued at $18,602,000 after purchasing an additional 66,404 shares during the period. Institutional investors and hedge funds own 71.02% of the company’s stock.
NYSE:RCL opened at $119.05 on Friday. The firm has a market cap of $27.15 billion, a PE ratio of 15.81, a P/E/G ratio of 0.92 and a beta of 1.17. The company has a quick ratio of 0.18, a current ratio of 0.20 and a debt-to-equity ratio of 0.68. Royal Caribbean Cruises Ltd has a fifty-two week low of $101.20 and a fifty-two week high of $135.65.
Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, August 2nd. The company reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.30. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.34 billion. Royal Caribbean Cruises had a return on equity of 16.50% and a net margin of 19.31%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.71 EPS. On average, research analysts expect that Royal Caribbean Cruises Ltd will post 8.91 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 11th. Stockholders of record on Friday, September 21st were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.35%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.60. Royal Caribbean Cruises’s payout ratio is 37.18%.
In other news, EVP Harri U. Kulovaara sold 6,600 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $125.55, for a total transaction of $828,630.00. Following the completion of the transaction, the executive vice president now owns 26,165 shares of the company’s stock, valued at approximately $3,285,015.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 15.26% of the stock is currently owned by insiders.
Several research firms recently issued reports on RCL. Stifel Nicolaus boosted their price target on Royal Caribbean Cruises from $147.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, September 24th. Bank of America upped their target price on Royal Caribbean Cruises from $138.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, September 26th. Morgan Stanley upped their target price on Royal Caribbean Cruises from $110.00 to $120.00 and gave the company a “hold” rating in a research report on Thursday, September 6th. Deutsche Bank upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and upped their target price for the company from $135.00 to $146.00 in a research report on Wednesday, August 29th. Finally, ValuEngine upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Friday, August 24th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $141.29.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Azamara Club Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 23 nights.
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