Neo Ivy Capital Management Has $504,000 Stock Holdings in Carnival Corporation (NYSE:CCL)

Key Points

• Neo Ivy Capital Management has significantly reduced its stake in Carnival Corporation by 78.4%, now holding 25,802 shares worth approximately $504,000 after selling 93,838 shares in Q1.
• Various institutional investors, including Thrivent Financial and American Century Companies Inc., have increased their stakes, indicating continued interest in Carnival despite recent fluctuations.
• Carnival reported earnings of $0.35 per share, exceeding expectations and showing a 9.5% year-over-year revenue increase, alongside a positive outlook from several analysts rating the stock as a "Moderate Buy."

Neo Ivy Capital Management cut its stake in Carnival Corporation (NYSE:CCL - Free Report) by 78.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,802 shares of the company's stock after selling 93,838 shares during the period. Neo Ivy Capital Management's holdings in Carnival were worth $504,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Carnival in the 4th quarter valued at about $59,486,000. Beck Bode LLC acquired a new stake in Carnival in the fourth quarter worth about $5,715,000. Itau Unibanco Holding S.A. bought a new position in shares of Carnival in the fourth quarter valued at approximately $5,113,000. Korea Investment CORP boosted its stake in Carnival by 36.7% during the 4th quarter. Korea Investment CORP now owns 1,090,909 shares of the company's stock valued at $27,185,000 after purchasing an additional 293,154 shares in the last quarter. Finally, Allstate Corp acquired a new position in shares of Carnival in the 4th quarter worth $767,000. Institutional investors own 67.19% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on CCL. Morgan Stanley boosted their target price on shares of Carnival from $21.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Truist Financial upped their price target on Carnival from $27.00 to $31.00 and gave the stock a "hold" rating in a report on Monday, July 21st. Barclays lifted their target price on Carnival from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Stifel Nicolaus increased their price objective on shares of Carnival from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Finally, Macquarie dropped their target price on Carnival from $31.00 to $26.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $30.71.

Carnival Trading Up 1.6%

Shares of NYSE:CCL traded up $0.48 during midday trading on Wednesday, hitting $30.18. The company had a trading volume of 9,693,213 shares, compared to its average volume of 24,360,201. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58. Carnival Corporation has a 12 month low of $13.78 and a 12 month high of $31.01. The firm has a fifty day simple moving average of $26.28 and a 200 day simple moving average of $23.47. The stock has a market cap of $35.24 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 0.67 and a beta of 2.61.

Carnival (NYSE:CCL - Get Free Report) last posted 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. The company had revenue of $6.33 billion during the quarter, compared to analyst estimates of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 EPS. On average, analysts predict that Carnival Corporation will post 1.77 EPS for the current year.

Carnival 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.