Yesterday, Royal Caribbean’s Chairman and CEO Richard Fain bought 29,190 shares of RCL stock, in a series of trades for an average of $68.5161 per share, worth nearly $2,000,000, according the to an article in Seatrade and SEC forms.
Today, with the RCL stock up over 6.50% from yesterday’s close, his $2,000,000 worth of shares purchased yesterday is now worth $2,139,627, for a nice one-day profit of around $140,000.
The SEC forms indicate that he owns 1,068,881 RCL shares directly and 426,912 indirectly which at the current price of $73.30 is worth $109,6416,269.
Mr. Fain purchased the stock one day after his company’s stock price dropped more than 6% following the release of the cruise line’s second quarter earnings.
Mr. Fain previously sold 80,516 shares of RCL stock last October at $98.80 per share for a total value of $7,955,335.00.
Mr. Fain collected $9,388,569 in total compensation last year.
Interested in the issue? Read: Cruise Executive Richard Fain Hits the Jackpot Again.
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