Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Royal Caribbean Group shares valued at $1,363,486 were sold by Bayley Michael W on Feb 13 ’24. At $116.01 per share, Bayley Michael W sold 11,753 shares. The insider’s holdings dropped to 166,537 shares worth approximately $22.49 million following the completion of this transaction.
Also, Wilhelmsen Arne Alexander sold 284,766 shares, netting a total of over 34,664,565 in proceeds. Following the sale of shares at $121.73 each, the insider now holds 19,167,507 shares.
Before that, Wilhelmsen Arne Alexander had sold 400,000 shares from its account. In a trade valued at $47,992,000, the Director traded Royal Caribbean Group shares for $119.98 each. Upon closing the transaction, the insider’s holdings decreased to 400,000 shares, worth approximately $2.63 billion.
As published in their initiating research note from Goldman on March 13, 2024, Royal Caribbean Group [RCL] has been a Buy and the price target has been revised to $162. As of October 23, 2023, HSBC Securities has initiated its “Buy” rating for RCL. Earlier on September 19, 2023, Truist upgraded its rating. Their new recommendation was “a Buy” for RCL stock which previously was a “a Hold”.
Analyzing RCL Stock Performance
During the last five days, there has been a drop of approximately -3.35%. Over the course of the year, Royal Caribbean Group shares have jumped approximately 4.29%. Shares of the company reached a 52-week high of $141.70 on 04/04/24 and a 52-week low of $113.10 on 02/20/24. A 50-day SMA is recorded $126.49, while a 200-day SMA reached $108.99. Nevertheless, trading volume fell to 4.2 million shares from 1.69 million shares the previous day.
Support And Resistance Levels for Royal Caribbean Group (RCL)
According to the 24-hour chart, there is a support level at 132.59, which, if violated, would cause prices to drop to 130.13. In the upper region, resistance lies at 139.60. The next price resistance is at 144.15. RSI (Relative Strength Index) is 56.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.47, which suggests the price will increase in the coming days. Percent R is at 46.03%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Royal Caribbean Group subject to short interest?
Stocks of Royal Caribbean Group saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.59 million shares to 15.68 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 15.09 million shares. A jump of 3.76% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.06 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.06.
