Adage Capital Partners GP L.L.C. Trims Stock Position in Carnival Corporation $CCL

Adage Capital Partners GP L.L.C. lowered its position in Carnival Corporation (NYSE:CCL - Free Report) by 95.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,084 shares of the company's stock after selling 924,416 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Carnival were worth $900,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new stake in Carnival in the first quarter valued at approximately $25,000. Graybill Wealth Management LTD. purchased a new stake in Carnival in the first quarter valued at approximately $26,000. Measured Risk Portfolios Inc. purchased a new stake in Carnival in the fourth quarter valued at approximately $29,000. Orion Capital Management LLC purchased a new stake in Carnival in the fourth quarter valued at approximately $30,000. Finally, Zions Bancorporation National Association UT purchased a new stake in Carnival in the first quarter valued at approximately $35,000. Hedge funds and other 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 dated Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total value of $371,875.00. Following the sale, the director owned 64,406 shares of the company's stock, valued at $1,916,078.50. This represents a 16.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Zacks Research downgraded Carnival from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. HSBC upgraded shares of Carnival from a "reduce" rating to a "hold" rating and set a $24.00 price objective for the company in a research report on Friday, May 16th. Stifel Nicolaus upped their price objective on shares of Carnival from $33.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Tigress Financial upped their price objective on shares of Carnival from $32.00 to $38.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, Barclays upped their price objective on shares of Carnival from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Thirteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.71.

Carnival Price Performance

Shares of NYSE:CCL traded down $0.78 on Friday, reaching $31.69. 7,533,953 shares of the company were exchanged, compared to its average volume of 22,973,914. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58. Carnival Corporation has a 1-year low of $15.07 and a 1-year high of $32.80. The firm has a market cap of $36.99 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 0.70 and a beta of 2.70. The company has a 50-day moving average of $30.15 and a 200-day moving average of $24.50.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The business had revenue of $6.33 billion for the quarter, compared to analysts' expectations of $6.20 billion. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The business's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 EPS. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. Equities analysts forecast that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

About Carnival

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.