Afam Capital Inc. lowered its stake in shares of Carnival Corporation (NYSE:CCL) by 11.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 21,346 shares of the company’s stock after selling 2,730 shares during the period. Afam Capital Inc.’s holdings in Carnival Corporation were worth $1,400,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in CCL. Almanack Investment Partners LLC. acquired a new position in Carnival Corporation during the 2nd quarter valued at about $117,000. Point72 Asia Hong Kong Ltd acquired a new position in Carnival Corporation during the 1st quarter valued at about $138,000. Harbour Capital Advisors LLC acquired a new position in Carnival Corporation during the 1st quarter valued at about $147,000. Parallel Advisors LLC boosted its stake in Carnival Corporation by 87.9% during the 1st quarter. Parallel Advisors LLC now owns 2,674 shares of the company’s stock valued at $167,000 after purchasing an additional 1,251 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in Carnival Corporation by 109.4% during the 2nd quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock valued at $171,000 after purchasing an additional 1,368 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.
A number of research firms have issued reports on CCL. Nomura reiterated a “buy” rating and set a $75.00 price target on shares of Carnival Corporation in a research note on Friday, September 29th. Instinet reiterated a “buy” rating and set a $75.00 price target on shares of Carnival Corporation in a research note on Monday, October 2nd. Argus reiterated a “neutral” rating and set a $67.00 price target (down previously from $78.00) on shares of Carnival Corporation in a research note on Thursday, September 28th. Credit Suisse Group reiterated a “neutral” rating on shares of Carnival Corporation in a research note on Thursday, September 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $79.00 price target (up previously from $74.00) on shares of Carnival Corporation in a research note on Wednesday, September 27th. Nine investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $65.60.
In related news, insider Alan Buckelew sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $67.52, for a total value of $1,012,800.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 23.80% of the company’s stock.
Carnival Corporation (NYSE:CCL) traded down 0.74% during midday trading on Monday, hitting $67.44. 595,545 shares of the company were exchanged. Carnival Corporation has a 1-year low of $45.92 and a 1-year high of $69.89. The stock has a market capitalization of $48.62 billion, a price-to-earnings ratio of 18.34 and a beta of 0.71. The stock has a 50 day moving average of $66.29 and a 200-day moving average of $64.61.
Carnival Corporation (NYSE:CCL) last issued its earnings results on Tuesday, September 26th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.09. Carnival Corporation had a net margin of 15.53% and a return on equity of 12.15%. The company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the company posted $1.92 earnings per share. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. Equities analysts expect that Carnival Corporation will post $3.68 earnings per share for the current year.
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About Carnival Corporation
Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.
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