Credit Industriel ET Commercial Sells 331,086 Shares of Carnival Corporation $CUK

Key Points

• Credit Industriel ET Commercial trimmed its Carnival position by 72.8% in Q4, selling 331,086 shares and leaving 123,955 shares (about 0.07% of the company) worth $3.76 million.
• Director Sir Jonathon Band sold 11,988 shares on April 1 at an average price of $26.19, reducing his stake by 18.56%.
• Carnival recently beat expectations with Q results (EPS $0.20 vs. $0.18 consensus; revenue $6.17B vs. $6.13B) and trades with a market cap of $4.86B and a P/E of 11.45, while analysts' average rating is “Moderate Buy.”

Credit Industriel ET Commercial trimmed its holdings in shares of Carnival Corporation (NYSE:CUK - Free Report) by 72.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 123,955 shares of the company's stock after selling 331,086 shares during the period. Credit Industriel ET Commercial owned approximately 0.07% of Carnival worth $3,760,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Citigroup Inc. lifted its holdings in shares of Carnival by 3,503.2% during the 3rd quarter. Citigroup Inc. now owns 83,161 shares of the company's stock worth $2,199,000 after acquiring an additional 80,853 shares during the period. RPO LLC bought a new position in shares of Carnival during the 3rd quarter worth about $3,235,000. ABC Arbitrage SA lifted its holdings in shares of Carnival by 11.5% during the 3rd quarter. ABC Arbitrage SA now owns 996,575 shares of the company's stock worth $26,349,000 after acquiring an additional 103,075 shares during the period. Archford Capital Strategies LLC bought a new position in shares of Carnival during the 4th quarter worth about $4,192,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Carnival by 225.9% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 218,827 shares of the company's stock worth $5,786,000 after acquiring an additional 151,673 shares during the period. 23.80% of the stock is owned by institutional investors.

Insider Transactions at Carnival

In related news, Director Sir Jonathon Band sold 11,988 shares of Carnival stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $26.19, for a total transaction of $313,965.72. Following the completion of the transaction, the director directly owned 52,601 shares of the company's stock, valued at $1,377,620.19. This trade represents a 18.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Carnival to a "hold" rating in a report on Thursday, January 22nd. Weiss Ratings raised shares of Carnival from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 23rd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Carnival has an average rating of "Moderate Buy".

Carnival Trading Up 0.5%

Shares of CUK stock opened at $25.77 on Wednesday. Carnival Corporation has a 12-month low of $17.54 and a 12-month high of $33.72. The company has a market capitalization of $4.86 billion, a P/E ratio of 11.45 and a beta of 2.36. The firm has a 50-day moving average price of $26.83 and a 200 day moving average price of $27.45. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 1.82.

Carnival (NYSE:CUK - Get Free Report) last announced its quarterly earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. Carnival had a net margin of 11.48% and a return on equity of 26.92%. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.13 billion.

About Carnival

Carnival plc NYSE: CUK is one of the world's leading cruise operators, offering leisure travel services to millions of passengers each year. Through its portfolio of brands, the company provides passenger cruises that combine accommodations, entertainment, dining, shore excursions and onboard amenities. Carnival's vessels range from contemporary “fun ships” to premium and luxury experiences, catering to a broad spectrum of travelers from families and couples to solo adventurers.

Founded in 1972 by Ted Arison, the company has grown through organic fleet expansion and strategic acquisitions.

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