Independent Advisor Alliance Has $1.41 Million Stock Holdings in Carnival Corporation (NYSE:CCL)

Key Points

• Independent Advisor Alliance has reduced its stake in Carnival Corporation by 14.8%, now holding 72,199 shares valued at approximately $1.41 million.
• Carnival's quarterly earnings exceeded expectations with an EPS of $0.35, surpassing the consensus estimate of $0.24, and revenues reached $6.33 billion.
• Institutional investors collectively own 67.19% of Carnival's stock, reflecting significant interest from various financial firms.

Independent Advisor Alliance lowered its stake in Carnival Corporation (NYSE:CCL - Free Report) by 14.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,199 shares of the company's stock after selling 12,549 shares during the quarter. Independent Advisor Alliance's holdings in Carnival were worth $1,410,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CCL. Beck Bode LLC bought a new position in shares of Carnival in the fourth quarter valued at $5,715,000. Itau Unibanco Holding S.A. bought a new position in shares of Carnival in the fourth quarter worth $5,113,000. The Manufacturers Life Insurance Company increased its position in shares of Carnival by 2.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 627,132 shares of the company's stock worth $15,628,000 after purchasing an additional 16,529 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Carnival by 31.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,160 shares of the company's stock valued at $2,427,000 after acquiring an additional 28,890 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its position in Carnival by 6.2% in the first quarter. IFM Investors Pty Ltd now owns 183,954 shares of the company's stock valued at $3,399,000 after acquiring an additional 10,739 shares during the last quarter. Institutional investors own 67.19% of the company's stock.

Carnival Stock Performance

Shares of Carnival stock opened at $29.64 on Wednesday. The business has a fifty day simple moving average of $27.54 and a two-hundred day simple moving average of $23.75. 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 firm has a market capitalization of $34.60 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.64 and a beta of 2.70. Carnival Corporation has a 12 month low of $14.53 and a 12 month high of $31.01.

Carnival (NYSE:CCL - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating 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 return on equity of 27.88% and a net margin of 9.72%. The business's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. On average, equities analysts forecast that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sir Jonathon Band sold 12,500 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total transaction of $371,875.00. Following the transaction, the director owned 64,406 shares of the company's stock, valued at approximately $1,916,078.50. This represents a 16.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CCL. Macquarie lowered their price target 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. Morgan Stanley raised their price target on shares of Carnival from $21.00 to $24.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Truist Financial raised their price target on shares of Carnival from $27.00 to $31.00 and gave the stock a "hold" rating in a report on Monday, July 21st. Barclays lifted their price objective on shares of Carnival from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Finally, Wall Street Zen upgraded shares of Carnival from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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.

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