PDT Partners LLC Sells 3,396 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

PDT Partners LLC cut its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 35.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,104 shares of the company’s stock after selling 3,396 shares during the period. PDT Partners LLC’s holdings in Royal Caribbean Cruises were worth $1,083,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Royal Caribbean Cruises by 24.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after acquiring an additional 400,565 shares during the last quarter. D1 Capital Partners L.P. boosted its holdings in shares of Royal Caribbean Cruises by 3.8% in the 3rd quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company’s stock worth $278,502,000 after purchasing an additional 58,159 shares during the period. Swiss National Bank raised its holdings in Royal Caribbean Cruises by 0.5% during the 3rd quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after buying an additional 3,800 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Royal Caribbean Cruises by 0.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 570,587 shares of the company’s stock worth $90,969,000 after buying an additional 1,865 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Royal Caribbean Cruises by 4.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 498,118 shares of the company’s stock worth $79,415,000 after buying an additional 21,326 shares during the period. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Performance

RCL stock opened at $244.06 on Monday. The firm has a 50-day simple moving average of $208.22 and a two-hundred day simple moving average of $175.28. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. Royal Caribbean Cruises Ltd. has a one year low of $106.12 and a one year high of $245.91. The firm has a market cap of $65.62 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 0.64 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.15. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. Royal Caribbean Cruises’s revenue was up 17.5% compared to the same quarter last year. During the same period last year, the firm earned $3.85 earnings per share. On average, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RCL shares. The Goldman Sachs Group raised their target price on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Citigroup upped their target price on Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley raised their price target on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $224.38.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the sale, the chief accounting officer now owns 9,964 shares of the company’s stock, valued at approximately $2,077,593.64. The trade was a 40.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard D. Fain sold 25,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the completion of the transaction, the director now directly owns 204,521 shares of the company’s stock, valued at approximately $42,953,500.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 404,332 shares of company stock valued at $94,299,521 in the last ninety days. Corporate insiders own 7.95% of the company’s stock.

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.