Carnival Corporation $CCL Shares Sold by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC reduced its stake in Carnival Corporation by 25.9%, owning 35,546 shares valued at approximately $1,000,000 after the sale.
• Analysts are optimistic about Carnival's stock, with recent price target increases from Barclays, JPMorgan Chase, and Citigroup, suggesting a strong market sentiment.
• Carnival Corporation reported earnings of $0.35 per share for the recent quarter, exceeding analysts' expectations, and its revenue increased by 9.5% year-over-year.

Pallas Capital Advisors LLC lowered its position in Carnival Corporation (NYSE:CCL - Free Report) by 25.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 35,546 shares of the company's stock after selling 12,443 shares during the period. Pallas Capital Advisors LLC's holdings in Carnival were worth $1,000,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Aaron Wealth Advisors LLC bought a new position in Carnival in the 2nd quarter worth $461,000. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Carnival during the 2nd quarter valued at about $1,322,000. Triumph Capital Management bought a new position in shares of Carnival during the 2nd quarter valued at about $529,000. Emprise Bank bought a new position in shares of Carnival in the 2nd quarter valued at about $253,000. Finally, Czech National Bank lifted its holdings in shares of Carnival by 6.6% in the 2nd quarter. Czech National Bank now owns 256,644 shares of the company's stock valued at $7,217,000 after acquiring an additional 15,985 shares during the last quarter. Institutional investors own 67.19% of the company's stock.

Insider Activity at Carnival

In other news, Director Sir Jonathon Band sold 12,500 shares of Carnival stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total transaction of $371,875.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 7.60% of the company's stock.

Carnival Stock Down 2.8%

NYSE CCL traded down $0.89 on Friday, hitting $30.56. The stock had a trading volume of 33,314,846 shares, compared to its average volume of 16,323,354. The business's fifty day moving average price is $30.40 and its 200 day moving average price is $24.82. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30. Carnival Corporation has a 52-week low of $15.07 and a 52-week high of $32.80. The stock has a market cap of $35.68 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 0.70 and a beta of 2.70.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The business had revenue of $6.33 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same period in the previous year, the firm posted $0.11 earnings per share. The business's revenue for the quarter was up 9.5% compared to the same quarter last year. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. Equities research analysts anticipate that Carnival Corporation will post 1.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CCL shares. Bank of America raised 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. Loop Capital reissued a "hold" rating and issued a $22.00 price objective on shares of Carnival in a research note on Monday, June 23rd. Tigress Financial raised their price objective on shares of Carnival from $32.00 to $38.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of Carnival from $34.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Citigroup raised their target price on shares of Carnival from $30.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $31.63.

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.