Twin Tree Management LP bought a new stake in Royal Caribbean Cruises Ltd (NYSE:RCL) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,547 shares of the company’s stock, valued at approximately $885,000.
Several other large investors have also recently bought and sold shares of RCL. Advisors Preferred LLC bought a new position in shares of Royal Caribbean Cruises in the first quarter valued at approximately $110,000. First Mercantile Trust Co. bought a new position in shares of Royal Caribbean Cruises in the second quarter valued at approximately $145,000. Squar Milner Financial Services LLC bought a new position in shares of Royal Caribbean Cruises in the second quarter valued at approximately $164,000. Wright Investors Service Inc. bought a new position in shares of Royal Caribbean Cruises in the second quarter valued at approximately $204,000. Finally, AdvisorNet Financial Inc bought a new position in shares of Royal Caribbean Cruises in the second quarter valued at approximately $207,000. Institutional investors own 70.20% of the company’s stock.
Shares of Royal Caribbean Cruises stock opened at $115.72 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.20 and a quick ratio of 0.18. The company has a market capitalization of $23.75 billion, a P/E ratio of 15.37, a P/E/G ratio of 0.80 and a beta of 1.17. 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 issued its quarterly 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. Royal Caribbean Cruises had a net margin of 19.31% and a return on equity of 16.50%. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the business posted $1.71 earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 6.5% compared to the same quarter last year. equities analysts predict that Royal Caribbean Cruises Ltd will post 8.9 earnings per share for the current fiscal year.
Royal Caribbean Cruises announced that its board has approved a share repurchase program on Wednesday, May 9th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In other Royal Caribbean Cruises news, CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $108.22, for a total transaction of $2,164,400.00. Following the completion of the sale, the chief executive officer now owns 859,337 shares of the company’s stock, valued at approximately $92,997,450.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 15.26% of the stock is currently owned by insiders.
RCL has been the subject of a number of research reports. Stifel Nicolaus lowered their price target on shares of Royal Caribbean Cruises from $153.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, July 24th. ValuEngine lowered shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a report on Monday, May 7th. Zacks Investment Research lowered shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Wednesday, April 25th. Barclays initiated coverage on shares of Royal Caribbean Cruises in a report on Friday, August 3rd. They issued an “overweight” rating for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Royal Caribbean Cruises from $150.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, June 15th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $137.20.
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.
Want to see what other hedge funds are holding RCL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Caribbean Cruises Ltd (NYSE:RCL).
Receive News & Ratings for Royal Caribbean Cruises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Caribbean Cruises and related companies with MarketBeat.com's FREE daily email newsletter.