Investors Sell Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) on Strength (NYSE:RCL)

Investors sold shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) on strength during trading hours on Tuesday. $59.41 million flowed into the stock on the tick-up and $69.68 million flowed out of the stock on the tick-down, for a money net flow of $10.27 million out of the stock. Of all companies tracked, Royal Caribbean Cruises had the 0th highest net out-flow for the day. Royal Caribbean Cruises traded up $2.04 for the day and closed at $119.80

RCL has been the subject of a number of research analyst reports. Wedbush upped their price objective on shares of Royal Caribbean Cruises from $106.00 to $117.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 25th. Stifel Nicolaus upped their price objective on shares of Royal Caribbean Cruises from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Goldman Sachs Group, Inc. (The) upped their price objective on shares of Royal Caribbean Cruises from $90.00 to $94.00 and gave the stock a “sell” rating in a research report on Monday, May 1st. Deutsche Bank AG reduced their price objective on shares of Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating for the company in a research report on Tuesday, May 2nd. Finally, Wells Fargo & Company restated an “outperform” rating and set a $119.50 price objective (up from $117.50) on shares of Royal Caribbean Cruises in a research report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $117.23.

The stock has a market cap of $25.56 billion, a PE ratio of 16.67 and a beta of 1.06. The firm’s 50 day moving average is $114.61 and its 200 day moving average is $105.28.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.04. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the company posted $1.09 EPS. Royal Caribbean Cruises’s quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts forecast that Royal Caribbean Cruises Ltd. will post $7.44 EPS for the current year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a share buyback plan on Friday, April 28th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

In related news, COO Adam M. Goldstein sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $118.21, for a total transaction of $14,185,200.00. Following the sale, the chief operating officer now directly owns 191,252 shares of the company’s stock, valued at approximately $22,607,898.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard D. Fain sold 210,706 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $115.83, for a total value of $24,406,075.98. Following the sale, the chief executive officer now directly owns 967,741 shares in the company, valued at $112,093,440.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 460,079 shares of company stock worth $53,714,055. Corporate insiders own 15.30% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Advisors Preferred LLC purchased a new stake in Royal Caribbean Cruises during the first quarter valued at about $103,000. TLP Group LLC purchased a new stake in Royal Caribbean Cruises during the second quarter valued at about $105,000. NEXT Financial Group Inc raised its stake in Royal Caribbean Cruises by 25.0% in the first quarter. NEXT Financial Group Inc now owns 1,000 shares of the company’s stock valued at $107,000 after buying an additional 200 shares in the last quarter. Acrospire Investment Management LLC raised its stake 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 valued at $109,000 after buying an additional 200 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Royal Caribbean Cruises during the first quarter valued at about $119,000. 72.26% of the stock is currently owned by institutional investors and hedge funds.

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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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