Assenagon Asset Management S.A. Cuts Holdings in Royal Caribbean Cruises Ltd (NYSE:RCL)

Assenagon Asset Management S.A. trimmed its holdings in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) by 88.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,700 shares of the company’s stock after selling 51,405 shares during the period. Assenagon Asset Management S.A.’s holdings in Royal Caribbean Cruises were worth $726,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. BancorpSouth Bank lifted its holdings in shares of Royal Caribbean Cruises by 2.6% during the 2nd quarter. BancorpSouth Bank now owns 3,860 shares of the company’s stock valued at $468,000 after buying an additional 96 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Royal Caribbean Cruises by 3.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,729 shares of the company’s stock valued at $331,000 after buying an additional 100 shares during the period. Bogart Wealth LLC lifted its holdings in shares of Royal Caribbean Cruises by 22.9% during the 3rd quarter. Bogart Wealth LLC now owns 536 shares of the company’s stock valued at $58,000 after buying an additional 100 shares during the period. Commerce Bank lifted its holdings in shares of Royal Caribbean Cruises by 2.0% during the 2nd quarter. Commerce Bank now owns 5,190 shares of the company’s stock valued at $629,000 after buying an additional 101 shares during the period. Finally, Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Royal Caribbean Cruises by 5.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,111 shares of the company’s stock valued at $256,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 72.65% of the company’s stock.

Shares of Royal Caribbean Cruises stock opened at $108.41 on Wednesday. Royal Caribbean Cruises Ltd has a one year low of $89.48 and a one year high of $131.04. The stock’s fifty day moving average is $108.45 and its 200 day moving average is $114.85. The stock has a market cap of $23.30 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.09 and a beta of 1.40. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.15 and a current ratio of 0.17.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Thursday, July 25th. The company reported $2.54 EPS for the quarter, topping the Zacks’ consensus estimate of $2.45 by $0.09. Royal Caribbean Cruises had a return on equity of 17.39% and a net margin of 17.82%. The company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the firm earned $2.27 EPS. Royal Caribbean Cruises’s revenue for the quarter was up 20.1% compared to the same quarter last year. Analysts predict that Royal Caribbean Cruises Ltd will post 9.64 EPS for the current year.

The business also recently announced a 0.70000 dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 20th were issued a $0.78 dividend. The ex-dividend date was Thursday, September 19th. This represents a yield of 2.8%. Royal Caribbean Cruises’s dividend payout ratio is currently 35.21%.

Several research firms have recently weighed in on RCL. Deutsche Bank lowered their price target on Royal Caribbean Cruises from $145.00 to $139.00 and set a “buy” rating on the stock in a report on Friday, July 19th. Zacks Investment Research raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating and set a $113.00 price target on the stock in a report on Monday, October 14th. ValuEngine raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Nomura reissued a “buy” rating on shares of Royal Caribbean Cruises in a report on Thursday, October 10th. Finally, Stifel Nicolaus raised their target price on Royal Caribbean Cruises from $150.00 to $151.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $145.10.

In other Royal Caribbean Cruises news, CEO Richard D. Fain sold 20,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $105.00, for a total transaction of $2,100,000.00. Following the sale, the chief executive officer now directly owns 845,651 shares of the company’s stock, valued at $88,793,355. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Lawrence R. Pimentel sold 10,518 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $108.25, for a total value of $1,138,573.50. Following the sale, the chief executive officer now directly owns 55,909 shares in the company, valued at $6,052,149.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,518 shares of company stock worth $7,520,974. 13.07% of the stock is owned by insiders.

Royal Caribbean Cruises Profile

Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 23 nights.

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Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

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