Trexquant Investment LP Has $982,000 Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Trexquant Investment LP cut its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 45.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,993 shares of the company’s stock after selling 7,476 shares during the period. Trexquant Investment LP’s holdings in Royal Caribbean Cruises were worth $982,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Morse Asset Management Inc increased its position in shares of Royal Caribbean Cruises by 0.7% in the second quarter. Morse Asset Management Inc now owns 3,425 shares of the company’s stock worth $374,000 after buying an additional 25 shares in the last quarter. Cigna Investments Inc. New increased its position in shares of Royal Caribbean Cruises by 12.8% in the second quarter. Cigna Investments Inc. New now owns 7,802 shares of the company’s stock worth $855,000 after buying an additional 884 shares in the last quarter. Global X Management Co. LLC increased its position in shares of Royal Caribbean Cruises by 36.8% in the second quarter. Global X Management Co. LLC now owns 4,022 shares of the company’s stock worth $439,000 after buying an additional 1,081 shares in the last quarter. Advisor Partners LLC increased its position in shares of Royal Caribbean Cruises by 17.9% in the second quarter. Advisor Partners LLC now owns 2,776 shares of the company’s stock worth $303,000 after buying an additional 421 shares in the last quarter. Finally, Korea Investment CORP increased its position in shares of Royal Caribbean Cruises by 7.9% in the second quarter. Korea Investment CORP now owns 552,025 shares of the company’s stock worth $60,298,000 after buying an additional 40,318 shares in the last quarter. 71.67% of the stock is owned by hedge funds and other institutional investors.

Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) opened at 120.49 on Thursday. Royal Caribbean Cruises Ltd. has a 52-week low of $65.10 and a 52-week high of $121.47. The company has a 50-day moving average price of $112.98 and a 200 day moving average price of $103.94. The firm has a market capitalization of $25.92 billion, a PE ratio of 16.90 and a beta of 1.06.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. Analysts expect that Royal Caribbean Cruises Ltd. will post $7.43 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its Board of Directors has approved a stock repurchase program 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 programs are often a sign that the company’s board of directors believes its shares are undervalued.

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A number of research analysts recently commented on the company. UBS AG reissued a “buy” rating and issued a $131.00 price target (up previously from $112.00) on shares of Royal Caribbean Cruises in a report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $129.00 target price (up previously from $125.00) on shares of Royal Caribbean Cruises in a report on Tuesday. Zacks Investment Research raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a report on Friday, August 4th. Berenberg Bank reaffirmed a “buy” rating and set a $135.00 target price on shares of Royal Caribbean Cruises in a report on Thursday, August 3rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $134.00 target price 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 company’s stock. Royal Caribbean Cruises has a consensus rating of “Buy” and an average target price of $117.23.

In other news, 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 transaction, the chief executive officer now directly owns 967,741 shares of the company’s stock, valued at approximately $112,093,440.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bernt Reitan sold 4,793 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $117.22, for a total value of $561,835.46. Following the completion of the transaction, the director now directly owns 7,862 shares in the company, valued at $921,583.64. The disclosure for this sale can be found here. Insiders have sold 452,499 shares of company stock worth $52,583,811 over the last ninety days. Company insiders own 15.30% of the company’s stock.

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

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