SteelPeak Wealth LLC Has $828,000 Stock Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

SteelPeak Wealth LLC raised its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,193 shares of the company’s stock after acquiring an additional 150 shares during the quarter. SteelPeak Wealth LLC’s holdings in Royal Caribbean Cruises were worth $828,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Blair William & Co. IL grew its stake in shares of Royal Caribbean Cruises by 37.4% during the 1st quarter. Blair William & Co. IL now owns 102,133 shares of the company’s stock worth $14,197,000 after acquiring an additional 27,819 shares in the last quarter. Keystone Financial Group bought a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $209,000. Quadrant Capital Group LLC grew its stake in shares of Royal Caribbean Cruises by 19.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,788 shares of the company’s stock worth $232,000 after acquiring an additional 285 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Royal Caribbean Cruises by 12.0% in the fourth quarter. Franklin Resources Inc. now owns 166,632 shares of the company’s stock valued at $21,577,000 after buying an additional 17,815 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Royal Caribbean Cruises by 17.2% in the second quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock valued at $6,156,000 after buying an additional 5,655 shares in the last quarter. 87.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Michael W. Bayley sold 49,155 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $147.67, for a total value of $7,258,718.85. Following the transaction, the chief executive officer now owns 49,695 shares in the company, valued at $7,338,460.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael W. Bayley sold 49,155 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $147.67, for a total value of $7,258,718.85. Following the transaction, the chief executive officer now owns 49,695 shares in the company, valued at $7,338,460.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Naftali Holtz purchased 5,350 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the transaction, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. The disclosure for this purchase can be found here. 7.95% of the stock is owned by company insiders.

Royal Caribbean Cruises Stock Performance

Shares of RCL traded up $7.49 during midday trading on Thursday, reaching $160.20. 2,302,648 shares of the stock were exchanged, compared to its average volume of 2,604,975. Royal Caribbean Cruises Ltd. has a twelve month low of $78.35 and a twelve month high of $173.37. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20. The company has a market cap of $41.23 billion, a P/E ratio of 19.68, a PEG ratio of 0.43 and a beta of 2.62. The stock’s 50 day simple moving average is $156.76 and its 200 day simple moving average is $141.40.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share for the quarter, topping 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 company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter last year, the firm earned $1.82 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis. On average, sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 11.63 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

The business also recently declared a — dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be given a $0.40 dividend. The ex-dividend date is Friday, September 20th.

Analyst Ratings Changes

RCL has been the subject of several analyst reports. Macquarie raised their target price on shares of Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Citigroup raised their target price on shares of Royal Caribbean Cruises from $165.00 to $204.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Morgan Stanley raised their target price on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Wells Fargo & Company raised their target price on shares of Royal Caribbean Cruises from $159.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Finally, UBS Group raised their target price on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.13.

Royal Caribbean Cruises Profile

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.