Fred Alger Management Inc. Acquires 998 Shares of Royal Caribbean Cruises Ltd. (RCL)
Fred Alger Management Inc. boosted its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 4.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,658 shares of the company’s stock after purchasing an additional 998 shares during the quarter. Fred Alger Management Inc.’s holdings in Royal Caribbean Cruises were worth $2,475,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. TLP Group LLC purchased a new stake in Royal Caribbean Cruises in the second quarter worth about $105,000. Acrospire Investment Management LLC grew its holdings in Royal Caribbean Cruises by 25.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock worth $109,000 after purchasing an additional 200 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Royal Caribbean Cruises in the first quarter worth about $119,000. NEXT Financial Group Inc grew its holdings in Royal Caribbean Cruises by 9.0% in the second quarter. NEXT Financial Group Inc now owns 1,090 shares of the company’s stock worth $119,000 after purchasing an additional 90 shares during the period. Finally, Pinebridge Investments L.P. purchased a new stake in Royal Caribbean Cruises in the second quarter worth about $121,000. Institutional investors and hedge funds own 71.51% of the company’s stock.
In other Royal Caribbean Cruises news, CEO Richard D. Fain sold 210,706 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $115.83, for a total transaction of $24,406,075.98. Following the completion of the sale, the chief executive officer now directly owns 967,741 shares in the company, valued at approximately $112,093,440.03. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $121.29, for a total transaction of $2,425,800.00. Following the sale, the chief executive officer now owns 927,741 shares of the company’s stock, valued at $112,525,705.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 480,079 shares of company stock worth $56,139,855. 15.30% of the stock is owned by insiders.
Several research analysts have recently issued reports on RCL shares. Stifel Nicolaus reiterated a “buy” rating and issued a $134.00 target price on shares of Royal Caribbean Cruises in a research note on Thursday, September 7th. Zacks Investment Research downgraded shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. J P Morgan Chase & Co upgraded shares of Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $111.00 to $130.00 in a research note on Thursday, July 20th. Goldman Sachs Group, Inc. (The) started coverage on shares of Royal Caribbean Cruises in a research note on Monday, July 24th. They issued a “neutral” rating on the stock. Finally, Bank of America Corporation started coverage on shares of Royal Caribbean Cruises in a research note on Monday, July 24th. They issued a “neutral” rating and a $123.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $119.73.
Royal Caribbean Cruises Ltd. (NYSE:RCL) opened at 123.39 on Friday. The company’s 50-day moving average is $119.73 and its 200-day moving average is $111.08. The company has a market cap of $26.54 billion, a P/E ratio of 17.31 and a beta of 0.99. Royal Caribbean Cruises Ltd. has a 12 month low of $67.53 and a 12 month high of $125.00.
Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. Royal Caribbean Cruises’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 EPS. On average, equities research analysts expect that Royal Caribbean Cruises Ltd. will post $7.43 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 11th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, September 21st. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. Royal Caribbean Cruises’s payout ratio is currently 33.71%.
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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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