Carnival Co. & plc (NYSE:CCL) Shares Sold by Graham Capital Management L.P.
Graham Capital Management L.P. trimmed its stake in Carnival Co. & plc (NYSE:CCL – Free Report) by 99.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 144,991 shares of the company’s stock after selling 41,094,639 shares during the quarter. Graham Capital Management L.P.’s holdings in Carnival Co. & were worth $2,730,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Acadian Asset Management LLC purchased a new position in shares of Carnival Co. & during the second quarter valued at $27,000. Manchester Capital Management LLC purchased a new position in shares of Carnival Co. & during the first quarter valued at $29,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Carnival Co. & by 168.0% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,530 shares of the company’s stock valued at $29,000 after buying an additional 959 shares in the last quarter. Pacific Center for Financial Services purchased a new position in shares of Carnival Co. & during the first quarter valued at $29,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Carnival Co. & by 272.0% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,337 shares of the company’s stock valued at $34,000 after buying an additional 2,440 shares in the last quarter. 55.54% of the stock is currently owned by institutional investors and hedge funds.
Carnival Co. & Stock Performance
Shares of NYSE:CCL traded up $0.32 on Friday, hitting $15.38. 5,965,917 shares of the company were exchanged, compared to its average volume of 35,372,973. The company has a debt-to-equity ratio of 4.24, a quick ratio of 0.38 and a current ratio of 0.43. The company’s 50 day moving average price is $13.04 and its two-hundred day moving average price is $14.71. Carnival Co. & plc has a one year low of $7.53 and a one year high of $19.55.
Carnival Co. & (NYSE:CCL – Get Free Report) last posted its quarterly earnings results on Friday, September 29th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.75 by $0.11. Carnival Co. & had a negative return on equity of 15.00% and a negative net margin of 8.11%. The firm had revenue of $6.85 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the firm posted ($0.58) EPS. The company’s revenue for the quarter was up 59.2% on a year-over-year basis. As a group, sell-side analysts forecast that Carnival Co. & plc will post -0.07 earnings per share for the current year.
Analysts Set New Price Targets
A number of research analysts have commented on the company. Citigroup restated a “buy” rating and issued a $18.00 target price on shares of Carnival Co. & in a research note on Tuesday, November 21st. Barclays cut their price objective on shares of Carnival Co. & from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, September 21st. Susquehanna decreased their target price on shares of Carnival Co. & from $17.00 to $16.00 and set a “positive” rating for the company in a research report on Monday, October 2nd. Redburn Atlantic upgraded shares of Carnival Co. & from a “neutral” rating to an “overweight” rating and set a $23.00 price target on the stock in a report on Thursday, September 14th. Finally, Morgan Stanley decreased their price objective on shares of Carnival Co. & from $11.50 to $11.00 and set an “underweight” rating for the company in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.44.
Insider Activity
In other news, Director Randall J. Weisenburger acquired 350,000 shares of the stock in a transaction dated Tuesday, October 10th. The shares were acquired at an average cost of $12.99 per share, for a total transaction of $4,546,500.00. Following the completion of the transaction, the director now owns 961,238 shares in the company, valued at approximately $12,486,481.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Randall J. Weisenburger purchased 350,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were acquired at an average price of $12.99 per share, with a total value of $4,546,500.00. Following the purchase, the director now directly owns 961,238 shares in the company, valued at $12,486,481.62. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Randall J. Weisenburger purchased 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The stock was bought at an average cost of $11.50 per share, for a total transaction of $1,150,000.00. Following the purchase, the director now owns 378,368 shares in the company, valued at $4,351,232. The disclosure for this purchase can be found here. 11.10% of the stock is currently owned by company insiders.
Carnival Co. & Company Profile (Free Report)
Carnival Corporation & plc engages in the provision of leisure travel services. The company operates a fleet of more than 90 ships visit approximately 700 ports under AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, Princess Cruises, P&O Cruises (Australia), P&O Cruises (UK), and Seabourn brand names.
Further Reading
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Original: MarketBeat News Feed: Carnival Co. & plc (NYSE:CCL) Shares Sold by Graham Capital Management L.P.