Headlands Technologies LLC Takes $1.19 Million Position in Carnival Corporation (NYSE:CCL)

Key Points

• Headlands Technologies LLC has acquired a new stake in Carnival Corporation, purchasing 60,733 shares valued at approximately $1.19 million in the first quarter of the year.
• Notable institutional investors including FMR LLC and AQR Capital Management LLC have significantly raised their stakes in Carnival, reflecting increased interest in the company.
• Analysts have shown positive sentiment towards Carnival with multiple upgrades to their ratings and price targets, with a consensus rating of "Moderate Buy" and an average price target of $30.71.

Headlands Technologies LLC acquired a new position in shares of Carnival Corporation (NYSE:CCL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 60,733 shares of the company's stock, valued at approximately $1,186,000.

A number of other large investors also recently modified their holdings of CCL. Franklin Resources Inc. grew its position in shares of Carnival by 273.2% during the fourth quarter. Franklin Resources Inc. now owns 220,115 shares of the company's stock worth $5,485,000 after acquiring an additional 161,130 shares during the last quarter. Federated Hermes Inc. lifted its position in Carnival by 311.7% in the 4th quarter. Federated Hermes Inc. now owns 26,839 shares of the company's stock valued at $669,000 after purchasing an additional 20,320 shares during the last quarter. FMR LLC raised its position in shares of Carnival by 186.6% during the 4th quarter. FMR LLC now owns 9,898,906 shares of the company's stock worth $246,681,000 after buying an additional 6,444,444 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Carnival by 61.8% in the 4th quarter. Cerity Partners LLC now owns 200,292 shares of the company's stock worth $4,712,000 after purchasing an additional 76,477 shares in the last quarter. Finally, Advisory Services Network LLC raised its holdings in shares of Carnival by 52.3% in the 4th quarter. Advisory Services Network LLC now owns 28,090 shares of the company's stock worth $700,000 after purchasing an additional 9,641 shares in the last quarter. 67.19% of the stock is currently owned by institutional investors.

Carnival Stock Performance

Shares of CCL traded down $0.64 during trading hours on Friday, hitting $28.37. The stock had a trading volume of 18,048,954 shares, compared to its average volume of 17,669,816. The firm has a market capitalization of $33.12 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 0.63 and a beta of 2.70. Carnival Corporation has a fifty-two week low of $14.49 and a fifty-two week high of $31.01. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34. The firm has a 50-day moving average price of $27.33 and a 200 day moving average price of $23.70.

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

Insider Buying and Selling at Carnival

In related news, Director Sir Jonathon Band sold 12,500 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 64,406 shares in the company, valued at approximately $1,916,078.50. This represents a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.60% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. 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. Macquarie lowered their price objective on shares of Carnival from $31.00 to $26.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Hsbc Global Res raised shares of Carnival from a "moderate sell" rating to a "hold" rating in a research note on Friday, May 16th. Northcoast Research assumed coverage on shares of Carnival in a report on Friday, April 25th. They issued a "neutral" rating on the stock. Finally, Truist Financial upped their price target on shares of Carnival from $27.00 to $31.00 and gave the company a "hold" rating in a research note on Monday, July 21st. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.71.

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.