Interval Partners LP Purchases New Shares in Carnival Corporation $CCL

Key Points

• Interval Partners LP has acquired 303,606 shares of Carnival Corporation, valued at approximately $5,929,000 in the first quarter, highlighting increasing interest from institutional investors in the stock.
• Analysts have raised price targets for Carnival Corporation; Barclays increased theirs from $30.00 to $33.00, while Bank of America set a target at $38.00, indicating a generally positive outlook for the company's stock.
• Carnival Corporation reported earnings of $0.35 per share for its last quarter, surpassing expectations and showing a significant year-over-year revenue growth of 9.5% to $6.33 billion.

Interval Partners LP acquired a new position in shares of Carnival Corporation (NYSE:CCL - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 303,606 shares of the company's stock, valued at approximately $5,929,000.

Other institutional investors also recently modified their holdings of the company. Measured Risk Portfolios Inc. acquired a new position in shares of Carnival during the 4th quarter worth about $29,000. Orion Capital Management LLC acquired a new position in shares of Carnival during the 4th quarter worth about $30,000. N.E.W. Advisory Services LLC bought a new stake in shares of Carnival during the 1st quarter worth about $25,000. Graybill Wealth Management LTD. bought a new stake in shares of Carnival during the 1st quarter worth about $26,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Carnival during the 1st quarter worth about $35,000. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Sir Jonathon Band sold 12,500 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total value 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 trade represents a 16.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.60% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CCL. Bank of America lifted their target price on shares of Carnival from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Barclays lifted their target price on shares of Carnival from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Morgan Stanley lifted their target price 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. Zacks Research downgraded shares of Carnival from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Finally, Hsbc Global Res raised shares of Carnival from a "moderate sell" rating to a "hold" rating in a report on Friday, May 16th. Thirteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $30.71.

Carnival Stock Down 1.6%

NYSE CCL traded down $0.50 on Wednesday, hitting $31.07. 10,992,756 shares of the company were exchanged, compared to its average volume of 23,018,541. The company has a market cap of $36.27 billion, a PE ratio of 16.80, a PEG ratio of 0.71 and a beta of 2.70. The stock has a fifty day moving average of $30.07 and a 200-day moving average of $24.39. Carnival Corporation has a 12 month low of $15.07 and a 12 month 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.

Carnival (NYSE:CCL - Get Free Report) last posted its earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The company had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the prior year, the business posted $0.11 EPS. The firm's revenue was up 9.5% compared to the same quarter last year. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. As a group, analysts forecast that Carnival Corporation will post 1.77 earnings per share for the current year.

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.