NGAM Advisors L.P. Raises Position in Royal Caribbean Cruises Ltd. (RCL)

NGAM Advisors L.P. increased its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,649 shares of the company’s stock after buying an additional 471 shares during the period. NGAM Advisors L.P.’s holdings in Royal Caribbean Cruises were worth $2,474,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in RCL. State of Alaska Department of Revenue bought a new stake in shares of Royal Caribbean Cruises during the first quarter worth about $1,108,000. Oakbrook Investments LLC bought a new stake in shares of Royal Caribbean Cruises during the first quarter worth about $1,133,000. Courier Capital LLC bought a new stake in shares of Royal Caribbean Cruises during the first quarter worth about $217,000. Quantitative Systematic Strategies LLC increased its stake in shares of Royal Caribbean Cruises by 48.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 22,677 shares of the company’s stock worth $2,225,000 after buying an additional 7,384 shares in the last quarter. Finally, Coastline Trust Co bought a new stake in shares of Royal Caribbean Cruises during the first quarter worth about $243,000. Institutional investors own 71.67% of the company’s stock.

Royal Caribbean Cruises Ltd. (RCL) opened at 117.22 on Friday. Royal Caribbean Cruises Ltd. has a one year low of $65.10 and a one year high of $121.47. The company has a market capitalization of $25.22 billion, a P/E ratio of 16.45 and a beta of 1.06. The company’s 50-day moving average is $113.22 and its 200 day moving average is $104.26.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period last year, the business earned $1.09 earnings per share. Royal Caribbean Cruises’s revenue was up 4.3% compared to the same quarter last year. On average, equities analysts anticipate that Royal Caribbean Cruises Ltd. will post $7.44 earnings per share for the current year.

Royal Caribbean Cruises announced that its board has initiated a stock buyback program on Friday, April 28th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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A number of analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a report on Friday, August 4th. Wedbush reiterated an “outperform” rating and issued a $129.00 price target (up from $125.00) on shares of Royal Caribbean Cruises in a report on Tuesday. UBS AG reiterated a “buy” rating and issued a $131.00 price target (up from $112.00) on shares of Royal Caribbean Cruises in a report on Tuesday. Stifel Nicolaus reiterated a “buy” rating and issued a $134.00 price target on shares of Royal Caribbean Cruises in a report on Thursday, August 3rd. Finally, Berenberg Bank reiterated a “buy” rating and issued a $135.00 price target on shares of Royal Caribbean Cruises in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and nineteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $117.23.

In related news, CEO Richard D. Fain sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $107.77, for a total transaction of $2,155,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,007,741 shares in the company, valued at $108,604,247.57. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard D. Fain sold 210,706 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $115.83, for a total transaction of $24,406,075.98. Following the sale, the chief executive officer now owns 967,741 shares of the company’s stock, valued at $112,093,440.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 452,499 shares of company stock valued at $52,583,811. 15.30% of the stock is owned by company insiders.

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).

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

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