Michael W. Bayley Sells 10,000 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) Stock

Royal Caribbean Cruises Ltd. (NYSE:RCL) CEO Michael W. Bayley sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $97.43, for a total value of $974,300.00. Following the completion of the sale, the chief executive officer now owns 112,191 shares of the company’s stock, valued at $10,930,769.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Royal Caribbean Cruises Stock Up 0.1 %

NYSE:RCL opened at $97.32 on Friday. The company has a quick ratio of 0.18, a current ratio of 0.20 and a debt-to-equity ratio of 5.28. The stock’s fifty day moving average is $101.69 and its two-hundred day moving average is $84.19. Royal Caribbean Cruises Ltd. has a 52 week low of $36.92 and a 52 week high of $112.95. The stock has a market capitalization of $24.93 billion, a price-to-earnings ratio of -304.12 and a beta of 2.47.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, July 27th. The company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.24. Royal Caribbean Cruises had a positive return on equity of 6.76% and a negative net margin of 0.47%. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.41 billion. During the same period in the prior year, the firm earned ($2.08) earnings per share. The firm’s revenue was up 61.3% compared to the same quarter last year. Research analysts anticipate that Royal Caribbean Cruises Ltd. will post 6.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Susquehanna upped their price target on Royal Caribbean Cruises from $85.00 to $127.00 and gave the company a “positive” rating in a research report on Friday, July 28th. StockNews.com assumed coverage on Royal Caribbean Cruises in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Argus upped their price target on Royal Caribbean Cruises from $88.00 to $92.00 in a research report on Wednesday, May 31st. Truist Financial upped their price target on Royal Caribbean Cruises from $72.00 to $115.00 and gave the company a “hold” rating in a research report on Tuesday, July 18th. Finally, Wells Fargo & Company increased their price objective on Royal Caribbean Cruises from $109.00 to $127.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $109.92.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Covenant Partners LLC acquired a new stake in shares of Royal Caribbean Cruises in the second quarter valued at $313,000. Osaic Holdings Inc. raised its stake in shares of Royal Caribbean Cruises by 22.0% in the second quarter. Osaic Holdings Inc. now owns 78,353 shares of the company’s stock valued at $8,127,000 after acquiring an additional 14,114 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Royal Caribbean Cruises by 18.3% in the second quarter. Orion Portfolio Solutions LLC now owns 19,876 shares of the company’s stock valued at $2,062,000 after acquiring an additional 3,080 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Royal Caribbean Cruises by 3.9% in the second quarter. Nuveen Asset Management LLC now owns 734,159 shares of the company’s stock valued at $76,162,000 after acquiring an additional 27,303 shares in the last quarter. Finally, CreativeOne Wealth LLC acquired a new stake in shares of Royal Caribbean Cruises in the second quarter valued at $283,000. 75.64% of the stock is currently owned by institutional investors and hedge funds.

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 13, 2023, it operated 64 ships. The company was founded in 1968 and is headquartered in Miami, Florida.