Hollencrest Capital Management Buys Shares of 5,469 Royal Caribbean Cruises Ltd. $RCL

Hollencrest Capital Management purchased a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL) in the third quarter, Holdings Channel reports. The fund purchased 5,469 shares of the company’s stock, valued at approximately $1,770,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RCL. 1 North Wealth Services LLC bought a new stake in shares of Royal Caribbean Cruises during the 2nd quarter worth $31,000. Evolution Wealth Management Inc. bought a new position in Royal Caribbean Cruises during the second quarter worth about $31,000. Trust Co. of Toledo NA OH bought a new stake in shares of Royal Caribbean Cruises in the 2nd quarter valued at approximately $32,000. Financial Gravity Companies Inc. acquired a new position in shares of Royal Caribbean Cruises in the 2nd quarter worth approximately $38,000. Finally, Frazier Financial Advisors LLC lifted its position in shares of Royal Caribbean Cruises by 27.1% during the 2nd quarter. Frazier Financial Advisors LLC now owns 136 shares of the company’s stock worth $43,000 after buying an additional 29 shares during the period. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Maritza Gomez Montiel sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $281.76, for a total value of $309,936.00. Following the completion of the sale, the director owned 14,234 shares of the company’s stock, valued at approximately $4,010,571.84. This represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.95% of the stock is owned by insiders.

Royal Caribbean Cruises Price Performance

Shares of RCL stock opened at $291.98 on Thursday. The company has a quick ratio of 0.14, a current ratio of 0.16 and a debt-to-equity ratio of 1.67. The firm has a market cap of $79.63 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 0.81 and a beta of 1.94. The stock has a 50-day moving average price of $279.45 and a 200 day moving average price of $304.16. Royal Caribbean Cruises Ltd. has a 12 month low of $164.01 and a 12 month high of $366.50.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.80. Royal Caribbean Cruises had a net margin of 23.33% and a return on equity of 44.68%. Research analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 10th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Royal Caribbean Cruises Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.4%. Royal Caribbean Cruises’s dividend payout ratio is 26.90%.

Wall Street Analyst Weigh In

RCL has been the topic of a number of analyst reports. TD Cowen reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research report on Tuesday, January 13th. Royal Bank Of Canada set a $360.00 target price on shares of Royal Caribbean Cruises in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of Royal Caribbean Cruises in a report on Friday, December 26th. Stifel Nicolaus decreased their price objective on shares of Royal Caribbean Cruises from $400.00 to $380.00 and set a “buy” rating on the stock in a research note on Tuesday, January 20th. Finally, Wall Street Zen cut shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $328.76.

About Royal Caribbean Cruises

Royal Caribbean Cruises (NYSE: RCL), operating as part of the Royal Caribbean Group, is a global cruise company that develops, markets and operates passenger cruise ships. The company operates multiple consumer-facing cruise brands that offer short- and long-duration itineraries and a range of onboard experiences. Its core activities include itineraries and voyage operations, guest services and hospitality, onboard food and beverage, entertainment and recreation programming, and the commercial activities needed to sell and support cruises through both direct and travel‑agent channels.

Royal Caribbean’s ships serve a broad set of geographies worldwide, regularly deploying vessels in the Caribbean, North America (including Alaska), Europe, Asia, Australia and South America.