Aigen Investment Management LP Increases Stock Holdings in Carnival Corporation (NYSE:CCL)

Key Points

• Aigen Investment Management LP increased its stake in Carnival Corporation by 136.2% in the first quarter, owning a total of 140,970 shares worth approximately $2.75 million.
• Several analysts have set new price targets for Carnival, with the consensus price target rising to $30.71 and numerous buy ratings being assigned to the stock.
• Carnival reported a quarterly earnings of $0.35 per share, exceeding analysts' expectations, with revenues rising to $6.33 billion, marking a 9.5% increase year-over-year.

Aigen Investment Management LP lifted its stake in shares of Carnival Corporation (NYSE:CCL - Free Report) by 136.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,970 shares of the company's stock after purchasing an additional 81,291 shares during the quarter. Aigen Investment Management LP's holdings in Carnival were worth $2,753,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Federated Hermes Inc. raised its position in Carnival by 311.7% in the fourth quarter. Federated Hermes Inc. now owns 26,839 shares of the company's stock worth $669,000 after acquiring an additional 20,320 shares in the last quarter. FMR LLC raised its position in Carnival by 186.6% in the fourth quarter. FMR LLC now owns 9,898,906 shares of the company's stock worth $246,681,000 after acquiring an additional 6,444,444 shares in the last quarter. Cerity Partners LLC raised its position in Carnival by 61.8% in the fourth quarter. Cerity Partners LLC now owns 200,292 shares of the company's stock worth $4,712,000 after acquiring an additional 76,477 shares in the last quarter. Advisory Services Network LLC raised its position in Carnival by 52.3% in the fourth quarter. Advisory Services Network LLC now owns 28,090 shares of the company's stock worth $700,000 after acquiring an additional 9,641 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Carnival in the fourth quarter worth $21,687,000. Hedge funds and other institutional investors own 67.19% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on CCL shares. Mizuho increased their price objective on Carnival from $33.00 to $35.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Susquehanna upped their target price on Carnival from $27.00 to $30.00 and gave the company a "positive" rating in a report on Wednesday, June 25th. HSBC raised Carnival from a "reduce" rating to a "hold" rating and set a $24.00 target price on the stock in a report on Friday, May 16th. Macquarie lowered their target price on Carnival from $31.00 to $26.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Finally, Bank of America upped their target price on Carnival from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $30.71.

Carnival Trading Up 3.3%

Shares of Carnival stock traded up $0.99 during trading hours on Wednesday, reaching $30.63. The stock had a trading volume of 22,064,794 shares, compared to its average volume of 24,009,686. The firm has a 50 day simple moving average of $27.54 and a two-hundred day simple moving average of $23.75. The firm has a market capitalization of $35.76 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 0.64 and a beta of 2.70. 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 $14.53 and a 1 year high of $31.01.

Carnival (NYSE:CCL - Get Free Report) last released its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The company had revenue of $6.33 billion for the quarter, compared to the consensus estimate of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The company's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business posted $0.11 EPS. As a group, equities research analysts anticipate that Carnival Corporation will post 1.77 earnings per share for the current year.

Insider Activity at Carnival

In other news, Director Sir Jonathon Band sold 12,500 shares of the firm's stock in a transaction dated 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 directly owned 64,406 shares in the company, valued at $1,916,078.50. This trade represents a 16.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.60% of the stock is currently owned by company insiders.

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.