Royal Caribbean Cruises Ltd. (RCL) Shares Sold by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. cut its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 19.8% during the second quarter, Holdings Channel reports. The institutional investor owned 10,100 shares of the company’s stock after selling 2,500 shares during the period. Daiwa Securities Group Inc.’s holdings in Royal Caribbean Cruises were worth $1,103,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Oakbrook Investments LLC bought a new position in shares of Royal Caribbean Cruises during the first quarter worth about $1,133,000. Courier Capital LLC bought a new position in shares of Royal Caribbean Cruises during the first quarter worth about $217,000. Quantitative Systematic Strategies LLC increased its position in shares of Royal Caribbean Cruises by 48.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 22,677 shares of the company’s stock worth $2,225,000 after buying an additional 7,384 shares in the last quarter. Coastline Trust Co bought a new position in shares of Royal Caribbean Cruises during the first quarter worth about $243,000. Finally, Bank of The West increased its position in shares of Royal Caribbean Cruises by 0.7% in the first quarter. Bank of The West now owns 34,275 shares of the company’s stock worth $3,363,000 after buying an additional 222 shares in the last quarter. Institutional investors and hedge funds own 71.67% of the company’s stock.
Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) opened at 117.31 on Friday. The stock has a market capitalization of $25.23 billion, a P/E ratio of 16.46 and a beta of 1.06. The stock’s 50 day moving average is $113.08 and its 200-day moving average is $104.03. Royal Caribbean Cruises Ltd. has a one year low of $65.10 and a one year high of $121.47.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 EPS. On average, equities research analysts expect that Royal Caribbean Cruises Ltd. will post $7.43 EPS for the current year.
Royal Caribbean Cruises declared that its Board of Directors has authorized a share repurchase plan on Friday, April 28th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $134.00 price target for the company in a report on Friday, August 4th. Wedbush reiterated an “outperform” rating and issued a $129.00 price target (up previously from $125.00) on shares of Royal Caribbean Cruises in a report on Tuesday. UBS Group AG reiterated a “buy” rating and issued a $131.00 price target (up previously from $112.00) on shares of Royal Caribbean Cruises in a report on Tuesday. Stifel Nicolaus reiterated a “buy” rating and issued a $134.00 price target on shares of Royal Caribbean Cruises in a report on Thursday, August 3rd. Finally, Berenberg Bank restated a “buy” rating and set a $135.00 target price on shares of Royal Caribbean Cruises in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Royal Caribbean Cruises has a consensus rating of “Buy” and an average target price of $117.23.
In other news, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $107.77, for a total value of $2,155,400.00. Following the transaction, the chief executive officer now owns 1,007,741 shares in the company, valued at approximately $108,604,247.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard D. Fain sold 210,706 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $115.83, for a total value of $24,406,075.98. Following the completion of the transaction, the chief executive officer now owns 967,741 shares in the company, valued at approximately $112,093,440.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 452,499 shares of company stock worth $52,583,811. Corporate insiders own 15.30% of the company’s stock.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).
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