Carnival Corporation $CCL Stake Decreased by Spirepoint Private Client LLC

Spirepoint Private Client LLC lessened its holdings in shares of Carnival Corporation (NYSE:CCL) by 14.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,156 shares of the company’s stock after selling 1,573 shares during the period. Spirepoint Private Client LLC’s holdings in Carnival were worth $257,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CCL. N.E.W. Advisory Services LLC bought a new stake in shares of Carnival during the first quarter valued at approximately $25,000. Graybill Wealth Management LTD. bought a new stake in shares of Carnival during the first quarter valued at approximately $26,000. Oliver Lagore Vanvalin Investment Group bought a new stake in Carnival during the second quarter worth approximately $28,000. Banque Transatlantique SA bought a new stake in Carnival during the first quarter worth approximately $33,000. Finally, Zions Bancorporation National Association UT bought a new stake in Carnival during the first quarter worth approximately $35,000. Institutional investors own 67.19% of the company’s stock.

Insider Activity

In other Carnival news, Director Sir Jonathon Band sold 12,500 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total value of $371,875.00. Following the transaction, the director owned 64,406 shares of the company’s stock, valued at approximately $1,916,078.50. This represents a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.60% of the company’s stock.

Carnival Price Performance

NYSE CCL opened at $30.67 on Friday. The stock has a market capitalization of $35.80 billion, a P/E ratio of 16.58, a P/E/G ratio of 0.68 and a beta of 2.70. Carnival Corporation has a 1 year low of $15.07 and a 1 year high of $32.80. The business’s fifty day moving average is $30.54 and its two-hundred day moving average is $25.17. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34.

Carnival (NYSE:CCL) last posted its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. The company had revenue of $6.33 billion for the quarter, compared to analysts’ expectations of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%.The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. On average, research analysts forecast that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CCL has been the topic of several recent analyst reports. Citigroup boosted their target price on Carnival from $30.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Susquehanna boosted their target price on Carnival from $27.00 to $30.00 and gave the stock a “positive” rating in a report on Wednesday, June 25th. Zacks Research cut Carnival from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Bank of America boosted their target price on Carnival from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Finally, Barclays boosted their target price on Carnival from $33.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, September 17th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.95.

Carnival Profile

Carnival Corp. engages in the operation of cruise ships. It operates through the following business segments: North America and Australia (NAA) Cruise, Europe and Asia (EA) Cruise Operations, Cruise Support, and Tour and Others. The North America and Australia (NAA) Cruise segment includes the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn.