Interval Partners LP Trims Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Interval Partners LP cut its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 26.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,179 shares of the company’s stock after selling 70,701 shares during the quarter. Royal Caribbean Cruises makes up about 0.8% of Interval Partners LP’s holdings, making the stock its 23rd biggest holding. Interval Partners LP’s holdings in Royal Caribbean Cruises were worth $26,854,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Scarborough Advisors LLC purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth about $26,000. Creekmur Asset Management LLC purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth about $30,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth about $33,000. Blue Trust Inc. grew its position in shares of Royal Caribbean Cruises by 367.2% in the 4th quarter. Blue Trust Inc. now owns 313 shares of the company’s stock worth $41,000 after buying an additional 246 shares during the period. Finally, Richardson Capital Management LLC purchased a new stake in shares of Royal Caribbean Cruises in the 1st quarter worth about $42,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RCL shares. Macquarie upped their target price on shares of Royal Caribbean Cruises from $165.00 to $189.00 and gave the stock an “outperform” rating in a research report on Tuesday. Argus upped their price target on shares of Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Bank of America upped their price target on shares of Royal Caribbean Cruises from $145.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. UBS Group upped their price target on shares of Royal Caribbean Cruises from $154.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Finally, The Goldman Sachs Group upped their price target on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and a consensus target price of $175.31.

Insider Transactions at Royal Caribbean Cruises

In other news, CEO Michael W. Bayley sold 49,155 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were 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 approximately $7,338,460.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Michael W. Bayley sold 49,155 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $147.67, for a total value of $7,258,718.85. Following the completion of the sale, the chief executive officer now directly owns 49,695 shares of the company’s stock, valued at approximately $7,338,460.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard D. Fain 19,338 shares of the business’s stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders have sold 92,940 shares of company stock worth $13,667,094 in the last quarter. Company insiders own 7.95% of the company’s stock.

Royal Caribbean Cruises Stock Performance

RCL traded up $1.77 during midday trading on Tuesday, hitting $156.91. 2,430,283 shares of the company traded hands, compared to its average volume of 2,525,021. 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 firm has a market capitalization of $40.38 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 0.44 and a beta of 2.62. The company’s 50-day moving average is $156.48 and its 200 day moving average is $139.28. Royal Caribbean Cruises Ltd. has a 52 week low of $78.35 and a 52 week high of $173.37.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, July 25th. The company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the prior year, the business earned $1.82 EPS. The business’s quarterly revenue was up 16.4% on a year-over-year basis. On average, research analysts expect that Royal Caribbean Cruises Ltd. will post 11.63 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 20th.

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 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.