Royal Caribbean Cruises Ltd. (RCL) Shares Sold by Taylor Asset Management Inc.
Taylor Asset Management Inc. lowered its position in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 83.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,400 shares of the company’s stock after selling 31,200 shares during the period. Royal Caribbean Cruises makes up about 0.2% of Taylor Asset Management Inc.’s portfolio, making the stock its 20th largest position. Taylor Asset Management Inc.’s holdings in Royal Caribbean Cruises were worth $699,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Nationwide Fund Advisors increased its stake in Royal Caribbean Cruises by 4.5% in the first quarter. Nationwide Fund Advisors now owns 139,560 shares of the company’s stock worth $13,692,000 after buying an additional 5,984 shares during the last quarter. Acadian Asset Management LLC increased its stake in Royal Caribbean Cruises by 447.1% in the first quarter. Acadian Asset Management LLC now owns 1,778 shares of the company’s stock worth $174,000 after buying an additional 1,453 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Royal Caribbean Cruises by 45.5% in the first quarter. IFP Advisors Inc now owns 2,802 shares of the company’s stock worth $275,000 after buying an additional 876 shares during the period. Whittier Trust Co. boosted its stake in shares of Royal Caribbean Cruises by 24.4% in the first quarter. Whittier Trust Co. now owns 1,266 shares of the company’s stock worth $124,000 after buying an additional 248 shares during the period. Finally, DUPONT CAPITAL MANAGEMENT Corp acquired a new stake in shares of Royal Caribbean Cruises during the first quarter worth $2,590,000. Institutional investors and hedge funds own 71.58% of the company’s stock.
Royal Caribbean Cruises Ltd. (NYSE:RCL) opened at 120.21 on Wednesday. The company has a market cap of $25.86 billion, a PE ratio of 16.86 and a beta of 1.06. Royal Caribbean Cruises Ltd. has a 12 month low of $65.10 and a 12 month high of $122.96. The stock’s 50 day moving average is $116.02 and its 200 day moving average is $106.22.
Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the firm earned $1.09 earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts predict that Royal Caribbean Cruises Ltd. will post $7.44 earnings per share for the current year.
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A number of brokerages recently weighed in on RCL. BidaskClub raised shares of Royal Caribbean Cruises from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. Zacks Investment Research raised 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 research report on Tuesday, August 22nd. UBS AG reaffirmed a “buy” rating and set a $131.00 price target (up from $112.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, August 8th. Wedbush reaffirmed an “outperform” rating and set a $129.00 price target (up from $125.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, August 8th. Finally, Goldman Sachs Group, Inc. (The) cut shares of Royal Caribbean Cruises to a “sell” rating in a research report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Royal Caribbean Cruises presently has an average rating of “Buy” and a consensus target price of $118.34.
In related news, EVP Harri U. Kulovaara sold 7,580 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $119.61, for a total transaction of $906,643.80. Following the transaction, the executive vice president now directly owns 23,493 shares of the company’s stock, valued at $2,809,997.73. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Lawrence R. Pimentel sold 17,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $120.50, for a total transaction of $2,048,500.00. Following the transaction, the chief executive officer now directly owns 20,045 shares in the company, valued at $2,415,422.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 460,079 shares of company stock worth $53,714,055. 15.30% of the stock is owned by insiders.
About Royal Caribbean Cruises
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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