Horizon Investment Services LLC Acquires New Holdings in Royal Caribbean Cruises Ltd. (RCL)
Horizon Investment Services LLC acquired a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 42,013 shares of the company’s stock, valued at approximately $4,589,000. Royal Caribbean Cruises comprises approximately 2.1% of Horizon Investment Services LLC’s investment portfolio, making the stock its 21st biggest position.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. TLP Group LLC acquired a new position in Royal Caribbean Cruises in the second quarter valued at about $105,000. Acrospire Investment Management LLC boosted its holdings in Royal Caribbean Cruises by 25.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock worth $109,000 after buying an additional 200 shares during the last quarter. NEXT Financial Group Inc grew its position in shares of Royal Caribbean Cruises by 9.0% during the 2nd quarter. NEXT Financial Group Inc now owns 1,090 shares of the company’s stock worth $119,000 after buying an additional 90 shares during the period. Pinebridge Investments L.P. acquired a new position in shares of Royal Caribbean Cruises during the 2nd quarter worth about $121,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Royal Caribbean Cruises during the 1st quarter worth about $119,000. Institutional investors and hedge funds own 71.51% of the company’s stock.
In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 7,580 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $119.61, for a total transaction of $906,643.80. Following the completion of the sale, the executive vice president now directly owns 23,493 shares of the company’s stock, valued at approximately $2,809,997.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard D. Fain sold 210,706 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was 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 of the company’s stock, valued at $112,093,440.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 480,079 shares of company stock worth $56,139,855. Corporate insiders own 15.30% of the company’s stock.
A number of analysts recently weighed in on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $134.00 price target on shares of Royal Caribbean Cruises in a research report on Thursday, September 7th. Zacks Investment Research cut shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. J P Morgan Chase & Co upgraded shares of Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $111.00 to $130.00 in a report on Thursday, July 20th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Royal Caribbean Cruises in a research note on Monday, July 24th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Royal Caribbean Cruises has an average rating of “Buy” and a consensus price target of $118.14.
Shares of Royal Caribbean Cruises Ltd. (NYSE RCL) traded up 2.31% during trading on Wednesday, hitting $121.75. 846,524 shares of the stock traded hands. The firm has a market cap of $26.19 billion, a P/E ratio of 17.08 and a beta of 0.99. Royal Caribbean Cruises Ltd. has a 52 week low of $67.53 and a 52 week high of $125.00. The company has a 50-day moving average of $119.54 and a 200-day moving average of $110.73.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the firm posted $1.09 EPS. Royal Caribbean Cruises’s revenue was up 4.3% compared to the same quarter last year. On average, analysts forecast that Royal Caribbean Cruises Ltd. will post $7.43 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 11th. Shareholders of record on Friday, September 22nd will be issued a dividend of $0.60 per share. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.40 annualized dividend and a yield of 2.02%. Royal Caribbean Cruises’s dividend payout ratio is presently 33.71%.
Royal Caribbean Cruises Company Profile
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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