Contravisory Investment Management Inc. Sells 488 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

11 Oct 2024, 16:55 by Michael Walen · The Markets Daily

Contravisory Investment Management Inc. lowered its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL – Free Report) by 7.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,693 shares of the company’s stock after selling 488 shares during the period. Contravisory Investment Management Inc.’s holdings in Royal Caribbean Cruises were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in RCL. USA Financial Formulas bought a new position in shares of Royal Caribbean Cruises during the third quarter worth approximately $1,218,000. Wedmont Private Capital grew its stake in Royal Caribbean Cruises by 3.2% during the third quarter. Wedmont Private Capital now owns 6,640 shares of the company’s stock worth $1,194,000 after buying an additional 208 shares in the last quarter. CWM LLC increased its holdings in Royal Caribbean Cruises by 5.1% in the 3rd quarter. CWM LLC now owns 10,431 shares of the company’s stock valued at $1,850,000 after buying an additional 510 shares during the period. Brookstone Capital Management raised its position in shares of Royal Caribbean Cruises by 9.0% in the 3rd quarter. Brookstone Capital Management now owns 7,054 shares of the company’s stock valued at $1,251,000 after buying an additional 584 shares in the last quarter. Finally, Atomi Financial Group Inc. lifted its holdings in shares of Royal Caribbean Cruises by 3.7% during the 3rd quarter. Atomi Financial Group Inc. now owns 2,602 shares of the company’s stock worth $461,000 after acquiring an additional 93 shares during the period. 87.53% of the stock is owned by institutional investors and hedge funds.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $193.59 on Friday. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19. Royal Caribbean Cruises Ltd. has a 52 week low of $78.35 and a 52 week high of $195.12. The firm has a market cap of $49.82 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 0.55 and a beta of 2.61. The firm’s fifty day moving average is $164.72 and its 200-day moving average is $153.83.

Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the company posted $1.82 EPS. The business’s revenue was up 16.4% on a year-over-year basis. Sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 11.63 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The company also recently declared a — dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 17.45%.

Wall Street Analyst Weigh In

Several research analysts have commented on RCL shares. The Goldman Sachs Group boosted their price objective on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Barclays boosted their price target on Royal Caribbean Cruises from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lifted their target price on Royal Caribbean Cruises from $210.00 to $213.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Truist Financial lifted their price target on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $187.19.

Check Out Our Latest Analysis on RCL

Insider Buying and Selling

In other news, CFO Naftali Holtz purchased 5,350 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average price of $140.00 per share, with a total value of $749,000.00. Following the completion of the transaction, the chief financial officer now owns 48,256 shares of the company’s stock, valued at $6,755,840. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Naftali Holtz purchased 5,350 shares of Royal Caribbean Cruises stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $140.00 per share, with a total value of $749,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 7.95% of the stock is owned by insiders.

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.