Exchange Traded Concepts LLC Increases Holdings in Carnival Corporation $CCL

Key Points

• Exchange Traded Concepts LLC significantly increased its stake in Carnival Corporation by 1,077.7%, holding a total of 207,824 shares valued at approximately $5.84 million.
• Analysts have given Carnival Corporation a consensus "Moderate Buy" rating, with price targets ranging from $21.00 to $36.00.
• In a recent earnings report, Carnival beat expectations with $0.35 EPS on revenue of $6.33 billion, marking a 9.5% increase in revenue year-over-year.

Exchange Traded Concepts LLC grew its position in Carnival Corporation (NYSE:CCL - Free Report) by 1,077.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 207,824 shares of the company's stock after buying an additional 190,178 shares during the period. Exchange Traded Concepts LLC's holdings in Carnival were worth $5,844,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SouthState Corp increased its position in Carnival by 9.8% during the first quarter. SouthState Corp now owns 5,976 shares of the company's stock worth $117,000 after buying an additional 531 shares during the last quarter. KBC Group NV grew its stake in shares of Carnival by 0.8% in the 1st quarter. KBC Group NV now owns 73,391 shares of the company's stock valued at $1,433,000 after buying an additional 553 shares during the period. Fielder Capital Group LLC lifted its position in shares of Carnival by 5.0% during the 1st quarter. Fielder Capital Group LLC now owns 12,843 shares of the company's stock worth $251,000 after buying an additional 615 shares in the last quarter. Commerce Bank raised its holdings in shares of Carnival by 2.8% in the 1st quarter. Commerce Bank now owns 23,027 shares of the company's stock worth $450,000 after purchasing an additional 620 shares during the period. Finally, Kentucky Retirement Systems raised its holdings in Carnival by 0.9% during the 1st quarter. Kentucky Retirement Systems now owns 70,058 shares of the company's stock valued at $1,368,000 after acquiring an additional 638 shares during the period. 67.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CCL. Zacks Research cut shares of Carnival from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Bank of America increased their price objective on shares of Carnival from $31.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Stifel Nicolaus lifted their price target on shares of Carnival from $34.00 to $38.00 and gave the company a "buy" rating in a research report on Tuesday. Barclays raised their target price on shares of Carnival from $33.00 to $37.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 17th. Finally, TD Cowen started coverage on shares of Carnival in a research report on Tuesday, July 22nd. They set a "buy" rating and a $36.00 target price for the company. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.84.

Insider Activity

In related news, Director Sir Jonathon Band sold 12,500 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total transaction of $371,875.00. Following the completion of the transaction, the director directly owned 64,406 shares in the company, valued at $1,916,078.50. The trade was a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.60% of the stock is currently owned by insiders.

Carnival Stock Up 2.1%

Shares of NYSE:CCL traded up $0.66 during trading on Tuesday, hitting $31.37. 8,319,408 shares of the company's stock traded hands, compared to its average volume of 22,870,127. Carnival Corporation has a 52 week low of $15.07 and a 52 week high of $32.80. The company has a market cap of $36.62 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 0.68 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. The company has a 50-day moving average price of $30.43 and a 200-day moving average price of $24.94.

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

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.