Carnival (NYSE:CUK) Director Sir Jonathon Band Sells 11,988 Shares

Key Points

• Sir Jonathon Band sold 11,988 shares of Carnival on April 1 at an average price of $26.19 for about $313,966, cutting his holding by 18.56% to 52,601 shares.
• Carnival shares traded at $25.62 (down $0.89) and the company recently beat quarterly estimates with EPS $0.20 vs. $0.18 and revenue $6.17B, while MarketBeat shows a consensus rating of Moderate Buy.
• Institutional investors have been active—most notably Voloridge, which now owns 803,443 shares—and institutions collectively hold about 23.8% of the stock.

Carnival Corporation (NYSE:CUK - Get Free Report) Director Sir Jonathon Band sold 11,988 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total transaction of $313,965.72. Following the sale, the director owned 52,601 shares in the company, valued at approximately $1,377,620.19. This trade represents a 18.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Sir Jonathon Band also recently made the following trade(s):

• On Tuesday, March 31st, Sir Jonathon Band sold 12 shares of Carnival stock. The shares were sold at an average price of $24.98, for a total value of $299.76.

Carnival Stock Performance

Shares of NYSE:CUK traded down $0.89 during trading on Thursday, hitting $25.62. 2,114,876 shares of the company traded hands, compared to its average volume of 2,913,477. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 11.38 and a beta of 2.51. The business's fifty day moving average is $28.64 and its 200-day moving average is $27.43. Carnival Corporation has a one year low of $13.65 and a one year high of $33.72. The company has a quick ratio of 0.28, a current ratio of 0.30 and a debt-to-equity ratio of 1.82.

Carnival (NYSE:CUK - Get Free Report) last announced its quarterly earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.13 billion. As a group, equities analysts predict that Carnival Corporation will post 1.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carnival

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its stake in Carnival by 34,144.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 14,725 shares of the company's stock valued at $447,000 after acquiring an additional 14,682 shares in the last quarter. Voloridge Investment Management LLC grew its stake in shares of Carnival by 4,622.5% in the fourth quarter. Voloridge Investment Management LLC now owns 803,443 shares of the company's stock worth $24,368,000 after purchasing an additional 786,430 shares in the last quarter. Toronto Dominion Bank acquired a new position in shares of Carnival during the fourth quarter valued at $4,260,000. OLD Mission Capital LLC increased its holdings in shares of Carnival by 125.9% during the fourth quarter. OLD Mission Capital LLC now owns 86,573 shares of the company's stock valued at $2,626,000 after purchasing an additional 48,244 shares during the period. Finally, Incline Global Management LLC raised its stake in shares of Carnival by 165.3% during the fourth quarter. Incline Global Management LLC now owns 413,656 shares of the company's stock valued at $12,633,000 after purchasing an additional 257,738 shares in the last quarter. 23.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CUK. Zacks Research raised shares of Carnival to a "hold" rating in a report on Thursday, January 22nd. Weiss Ratings upgraded shares of Carnival from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 23rd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy".

About Carnival

Carnival plc NYSE: CUK is one of the world's leading cruise operators, offering leisure travel services to millions of passengers each year. Through its portfolio of brands, the company provides passenger cruises that combine accommodations, entertainment, dining, shore excursions and onboard amenities. Carnival's vessels range from contemporary “fun ships” to premium and luxury experiences, catering to a broad spectrum of travelers from families and couples to solo adventurers.

Founded in 1972 by Ted Arison, the company has grown through organic fleet expansion and strategic acquisitions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.