Atlas Capital Advisors Inc. Sells 10,739 Shares of Carnival Corporation (NYSE:CCL)

Key Points

• Atlas Capital Advisors Inc. reduced its holdings in Carnival Corporation by 61.3%, selling 10,739 shares to now own 6,790 shares worth approximately $133,000.
• Analyst ratings for Carnival have improved, with several upgrades and a consensus rating of "Moderate Buy", and a target price set at $30.71.
• Carnival reported a quarterly earnings per share of $0.35, exceeding expectations, along with a revenue of $6.33 billion, marking a 9.5% increase compared to the same period last year.

Atlas Capital Advisors Inc. trimmed its position in shares of Carnival Corporation (NYSE:CCL - Free Report) by 61.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 6,790 shares of the company's stock after selling 10,739 shares during the quarter. Atlas Capital Advisors Inc.'s holdings in Carnival were worth $133,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. boosted its holdings in shares of Carnival by 311.7% during the 4th quarter. Federated Hermes Inc. now owns 26,839 shares of the company's stock valued at $669,000 after acquiring an additional 20,320 shares during the last quarter. Cerity Partners LLC grew its position in Carnival by 61.8% during the fourth quarter. Cerity Partners LLC now owns 200,292 shares of the company's stock valued at $4,712,000 after buying an additional 76,477 shares during the period. Advisory Services Network LLC increased 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 valued at $700,000 after buying an additional 9,641 shares during the last quarter. Raymond James Financial Inc. bought a new position in Carnival in the fourth quarter worth approximately $21,687,000. Finally, Scotia Capital Inc. boosted its stake in shares of Carnival by 14.0% during the 4th quarter. Scotia Capital Inc. now owns 47,563 shares of the company's stock worth $1,185,000 after acquiring an additional 5,830 shares during the last quarter. 67.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Carnival

In related news, Director Sir Jonathon Band sold 12,500 shares of the business's 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 sale, the director owned 64,406 shares in the company, valued at approximately $1,916,078.50. The trade was a 16.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.60% of the company's stock.

Carnival Price Performance

Shares of CCL traded up $0.99 during midday trading on Wednesday, hitting $30.63. 22,064,794 shares of the company traded hands, compared to its average volume of 17,536,168. The stock has a market cap of $35.76 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.66 and a beta of 2.70. The firm has a 50 day moving average of $27.54 and a 200-day moving average of $23.75. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34. Carnival Corporation has a 52 week low of $14.53 and a 52 week high of $31.01.

Carnival (NYSE:CCL - Get Free Report) last posted its earnings results 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 firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 earnings per share. On average, analysts forecast that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. HSBC upgraded Carnival from a "reduce" rating to a "hold" rating and set a $24.00 price objective for the company in a research note on Friday, May 16th. Susquehanna upped their price target on Carnival from $27.00 to $30.00 and gave the stock a "positive" rating in a research report on Wednesday, June 25th. Bank of America raised their price objective on Carnival from $31.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Tigress Financial boosted their price objective on Carnival from $32.00 to $38.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen upgraded shares of Carnival from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.71.

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.