Carnival Corporation $CCL Shares Sold by Ieq Capital LLC

Key Points

• Ieq Capital LLC reduced its stake in Carnival Corporation by 22.6% during the first quarter, now holding 229,466 shares worth approximately $4.48 million.
• Several institutional investors have modified their positions in Carnival, with Causeway Capital Management establishing a new position valued at $518.8 million during the same quarter.
• Analysts have a "Moderate Buy" average rating for Carnival's stock, with price targets ranging from $24.00 to $38.00, reflecting varying levels of optimism about the company's future performance.

Ieq Capital LLC lessened its position in Carnival Corporation (NYSE:CCL - Free Report) by 22.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 229,466 shares of the company's stock after selling 67,088 shares during the period. Ieq Capital LLC's holdings in Carnival were worth $4,481,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Measured Risk Portfolios Inc. purchased a new position in shares of Carnival in the 4th quarter valued at about $29,000. Orion Capital Management LLC purchased a new position in shares of Carnival in the 4th quarter valued at about $30,000. N.E.W. Advisory Services LLC purchased a new position in shares of Carnival in the 1st quarter valued at about $25,000. Graybill Wealth Management LTD. purchased a new position in shares of Carnival in the 1st quarter valued at about $26,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Carnival in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 67.19% of the company's stock.

Carnival Trading Up 1.4%

Shares of NYSE CCL traded up $0.45 during midday trading on Thursday, reaching $31.78. 10,753,212 shares of the stock were exchanged, compared to its average volume of 15,157,997. The company has a market capitalization of $37.09 billion, a P/E ratio of 17.18, a P/E/G ratio of 0.70 and a beta of 2.70. Carnival Corporation has a 52-week low of $15.07 and a 52-week high of $32.77. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58. The stock has a 50 day moving average price of $29.86 and a 200-day moving average price of $24.25.

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

Insider Activity at Carnival

In other news, Director Sir Jonathon Band sold 12,500 shares of Carnival stock in a transaction dated 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 $1,916,078.50. The trade was a 16.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CCL has been the subject of several recent research reports. Barclays raised their target price on shares of Carnival from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Wednesday, June 25th. Macquarie dropped their target price on shares of Carnival from $31.00 to $26.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Citigroup raised their target price on shares of Carnival from $30.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. HSBC upgraded shares of Carnival from a "reduce" rating to a "hold" rating and set a $24.00 target price for the company in a report on Friday, May 16th. Finally, Stifel Nicolaus raised their target price on shares of Carnival from $33.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Thirteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $30.71.

Carnival Company 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.