Summit Financial LLC Invests $707,000 in Carnival Corporation $CCL

Key Points

• Summit Financial LLC acquired a new position in Carnival Corporation, purchasing 36,193 shares valued at approximately $707,000 in the first quarter.
• Several institutional investors added positions in Carnival, contributing to a total ownership of 67.19% of the company's stock.
• Carnival's stock has a consensus rating of "Moderate Buy" with an average target price of $30.71, as analysts forecast a positive trajectory for the company.

Summit Financial LLC bought a new position in shares of Carnival Corporation (NYSE:CCL - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 36,193 shares of the company's stock, valued at approximately $707,000.

A number of other hedge funds have also made changes to their positions in CCL. NewEdge Advisors LLC increased its position in shares of Carnival by 12.7% during the 4th quarter. NewEdge Advisors LLC now owns 24,161 shares of the company's stock worth $602,000 after purchasing an additional 2,724 shares in the last quarter. MML Investors Services LLC raised its stake in shares of Carnival by 139.7% in the fourth quarter. MML Investors Services LLC now owns 207,679 shares of the company's stock worth $5,175,000 after acquiring an additional 121,045 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Carnival by 1.3% during the fourth quarter. Stifel Financial Corp now owns 781,608 shares of the company's stock worth $19,478,000 after purchasing an additional 9,709 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Carnival by 4.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,476,588 shares of the company's stock valued at $36,798,000 after purchasing an additional 60,833 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Carnival by 465.2% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 970,500 shares of the company's stock valued at $24,185,000 after purchasing an additional 798,800 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company's stock.

Carnival Trading Up 0.5%

CCL traded up $0.15 during mid-day trading on Thursday, hitting $32.49. The stock had a trading volume of 10,546,058 shares, compared to its average volume of 23,458,629. The stock's fifty day simple moving average is $29.03 and its 200-day simple moving average is $24.02. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30. The firm has a market capitalization of $37.93 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 0.71 and a beta of 2.70. Carnival Corporation has a 1-year low of $15.07 and a 1-year high of $32.77.

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 the consensus estimate of $0.24 by $0.11. The company had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.20 billion. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The business's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the business 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. As a group, research analysts forecast that Carnival Corporation will post 1.77 EPS 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 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 owned 64,406 shares of the company's stock, valued at $1,916,078.50. This represents a 16.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CCL shares. Wall Street Zen raised Carnival from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Susquehanna upped their price target on Carnival from $27.00 to $30.00 and gave the company a "positive" rating in a research note on Wednesday, June 25th. Stifel Nicolaus lifted their price objective on Carnival from $33.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Mizuho upped their target price on shares of Carnival from $33.00 to $35.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Finally, TD Cowen initiated coverage on shares of Carnival in a research note on Tuesday, July 22nd. They issued a "buy" rating and a $36.00 target price on the stock. Thirteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.