Carnival Corporation (NYSE:CCL) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC trimmed its stake in Carnival Corporation (NYSE:CCL - Free Report) by 89.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,646 shares of the company's stock after selling 145,868 shares during the quarter. Exchange Traded Concepts LLC's holdings in Carnival were worth $345,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Measured Risk Portfolios Inc. acquired a new position in shares of Carnival in the fourth quarter worth $29,000. Orion Capital Management LLC acquired a new position in Carnival in the fourth quarter valued at $30,000. Millstone Evans Group LLC acquired a new position in Carnival in the fourth quarter valued at $34,000. 1620 Investment Advisors Inc. acquired a new position in Carnival in the fourth quarter valued at $42,000. Finally, Mizuho Bank Ltd. acquired a new position in Carnival in the fourth quarter valued at $46,000. 67.19% of the stock is owned by institutional investors and hedge funds.

Carnival Stock Up 0.6%

Shares of NYSE CCL traded up $0.15 on Friday, hitting $23.76. The company had a trading volume of 23,613,035 shares, compared to its average volume of 25,396,831. Carnival Corporation has a 12-month low of $13.78 and a 12-month high of $28.72. The business has a 50 day moving average of $21.45 and a two-hundred day moving average of $22.81. The company has a quick ratio of 0.21, a current ratio of 0.26 and a debt-to-equity ratio of 2.78. The firm has a market capitalization of $27.72 billion, a P/E ratio of 15.84, a PEG ratio of 0.55 and a beta of 2.58.

Carnival (NYSE:CCL - Get Free Report) last issued its earnings results on Friday, March 21st. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.11. The company had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.74 billion. Carnival had a return on equity of 26.53% and a net margin of 8.07%. The company's revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) earnings per share. As a group, equities research analysts forecast that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on CCL shares. Mizuho upped their target price on Carnival from $32.00 to $33.00 and gave the company an "outperform" rating in a research note on Monday, March 24th. Barclays reiterated an "overweight" rating and issued a $30.00 target price (up from $26.00) on shares of Carnival in a research note on Tuesday, June 17th. Truist Financial dropped their target price on Carnival from $30.00 to $27.00 and set a "hold" rating for the company in a research note on Monday, May 19th. Tigress Financial reiterated a "buy" rating on shares of Carnival in a research note on Wednesday, March 26th. Finally, William Blair reiterated an "outperform" rating on shares of Carnival in a research note on Monday, March 10th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $26.79.

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.