Arrowpoint Investment Partners Singapore Pte. Ltd. Makes New $377,000 Investment in Carnival Corporation (NYSE:CCL)

Key Points

• Arrowpoint Investment Partners Singapore acquired a new stake in Carnival Corporation during the first quarter, purchasing 19,300 shares valued at approximately $377,000.
• Several institutional investors, including AGF Management Ltd., significantly increased their holdings in Carnival, with AGF increasing its position by 14,603.8% to own over 2.8 million shares.
• Analysts have upgraded Carnival's stock ratings, with a consensus target price of $30.71, indicating a generally optimistic outlook for the company's performance.

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new position in shares of Carnival Corporation (NYSE:CCL - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 19,300 shares of the company's stock, valued at approximately $377,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its stake in Carnival by 311.7% in the 4th quarter. Federated Hermes Inc. now owns 26,839 shares of the company's stock worth $669,000 after purchasing an additional 20,320 shares in the last quarter. Advisory Services Network LLC grew its holdings in Carnival by 52.3% during the fourth quarter. Advisory Services Network LLC now owns 28,090 shares of the company's stock worth $700,000 after buying an additional 9,641 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Carnival during the 4th quarter worth $21,687,000. Sterling Capital Management LLC raised its stake in shares of Carnival by 60.0% during the 4th quarter. Sterling Capital Management LLC now owns 61,142 shares of the company's stock worth $1,524,000 after purchasing an additional 22,933 shares during the period. Finally, Townsquare Capital LLC raised its stake in shares of Carnival by 114.1% during the 4th quarter. Townsquare Capital LLC now owns 28,534 shares of the company's stock worth $711,000 after purchasing an additional 15,205 shares during the period. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Carnival

In other news, Director Sir Jonathon Band sold 12,500 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total value of $371,875.00. Following the completion of the sale, the director directly 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 SEC, which is available at this hyperlink. 7.60% of the stock is owned by company insiders.

Carnival Stock Performance

NYSE CCL traded down $0.51 during trading hours on Friday, hitting $29.74. The company's stock had a trading volume of 10,992,674 shares, compared to its average volume of 23,874,004. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30. The company has a market cap of $34.72 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 0.69 and a beta of 2.70. The company's 50 day simple moving average is $27.81 and its two-hundred day simple moving average is $23.83. Carnival Corporation has a 12 month low of $15.07 and a 12 month high of $31.01.

Carnival (NYSE:CCL - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The business had revenue of $6.33 billion during 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 business's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. As a group, sell-side analysts expect that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Analysts Set New Price Targets

CCL has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Carnival from $21.00 to $24.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Barclays boosted their price objective on Carnival from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Susquehanna boosted their price objective on Carnival from $27.00 to $30.00 and gave the stock a "positive" rating in a report on Wednesday, June 25th. Tigress Financial boosted their target price on Carnival from $32.00 to $38.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, HSBC upgraded Carnival from a "reduce" rating to a "hold" rating and set a $24.00 target price for the company in a research report on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.71.

Carnival Profile

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.