Carnival Corporation $CCL Shares Bought by Boothbay Fund Management LLC

Key Points

• Boothbay Fund Management LLC has increased its stake in Carnival Corporation by 103.6%, acquiring an additional 491,383 shares, bringing its total ownership to 965,615 shares.
• Insider transactions were noted, with Director Sir Jonathon Band selling 12,500 shares, reducing his position by 16.25%.
• Carnival reported a quarterly earnings per share (EPS) of $0.35, surpassing analysts' expectations, with revenue of $6.33 billion, up 9.5% year-over-year.

Boothbay Fund Management LLC grew its position in Carnival Corporation (NYSE:CCL - Free Report) by 103.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 965,615 shares of the company's stock after acquiring an additional 491,383 shares during the quarter. Carnival accounts for 0.5% of Boothbay Fund Management LLC's portfolio, making the stock its 16th biggest holding. Boothbay Fund Management LLC owned approximately 0.08% of Carnival worth $18,858,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Measured Risk Portfolios Inc. bought a new stake in shares of Carnival in the 4th quarter valued at approximately $29,000. Orion Capital Management LLC bought a new stake in Carnival in the fourth quarter worth $30,000. N.E.W. Advisory Services LLC purchased a new position in Carnival during the first quarter worth $25,000. Graybill Wealth Management LTD. bought a new position in Carnival during the first quarter valued at $26,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Carnival in the first quarter valued at $35,000. 67.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Carnival 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 completion of the sale, the director owned 64,406 shares of the company's stock, valued at approximately $1,916,078.50. This trade represents a 16.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.60% of the stock is currently owned by company insiders.

Carnival Trading Down 0.0%

CCL traded down $0.00 during trading on Monday, hitting $31.57. 20,379,133 shares of the stock were exchanged, compared to its average volume of 23,152,104. Carnival Corporation has a 1 year low of $15.07 and a 1 year high of $32.77. The firm has a market cap of $36.85 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 0.71 and a beta of 2.70. The firm has a 50 day simple moving average of $29.94 and a 200 day simple moving average of $24.28. 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 (NYSE:CCL - Get Free Report) last posted its earnings results on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The business had revenue of $6.33 billion for the quarter, compared to the consensus estimate of $6.20 billion. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The company's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm 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. As a group, equities analysts expect that Carnival Corporation will post 1.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CCL. Stifel Nicolaus lifted their price target on shares of Carnival from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Barclays boosted their target price on Carnival from $30.00 to $33.00 and gave the company an "overweight" rating in a research report on Wednesday, June 25th. HSBC upgraded Carnival from a "reduce" rating to a "hold" rating and set a $24.00 price target on the stock in a report on Friday, May 16th. Susquehanna boosted their price objective on Carnival from $27.00 to $30.00 and gave the company a "positive" rating in a report on Wednesday, June 25th. Finally, TD Cowen began coverage on Carnival in a research note on Tuesday, July 22nd. They issued a "buy" rating and a $36.00 target price on the stock. Thirteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Carnival has an average rating of "Moderate Buy" and an average target price of $30.71.

Carnival Company 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.