Sunpointe LLC Invests $1.33 Million in Carnival Corporation $CCL

Key Points

• Sunpointe LLC acquired a new stake of 47,300 shares in Carnival Corporation, valued at approximately $1.33 million, during the second quarter.
• Multiple hedge funds have also established positions in Carnival, with institutional investors and hedge funds owning 67.19% of the company's stock.
• Research analysts have recently adjusted their price targets for Carnival, with estimates ranging from $30.00 to $38.00 and an average rating of "Moderate Buy."

Sunpointe LLC purchased a new position in Carnival Corporation (NYSE:CCL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 47,300 shares of the company's stock, valued at approximately $1,330,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. N.E.W. Advisory Services LLC acquired a new stake in Carnival during the 1st quarter worth $25,000. Graybill Wealth Management LTD. acquired a new stake in Carnival during the 1st quarter worth $26,000. Orion Capital Management LLC acquired a new stake in Carnival during the 4th quarter worth $30,000. Banque Transatlantique SA acquired a new stake in Carnival during the 1st quarter worth $33,000. Finally, Zions Bancorporation National Association UT acquired a new stake in Carnival during the 1st quarter worth $35,000. 67.19% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Sir Jonathon Band sold 12,500 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director 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 legal filing with the SEC, which is available at this hyperlink. 7.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CCL has been the topic of several research analyst reports. Loop Capital reaffirmed a "hold" rating and set a $22.00 price objective on shares of Carnival in a research note on Monday, June 23rd. Tigress Financial raised their price objective on Carnival from $32.00 to $38.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Bank of America lifted their price target on Carnival from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Susquehanna lifted 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. Finally, JPMorgan Chase & Co. lifted their price target on Carnival from $34.00 to $39.00 and gave the company an "overweight" rating in a research note on Monday, September 15th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $31.63.

Carnival Stock Performance

Carnival stock traded down $0.89 during midday trading on Friday, reaching $30.56. 33,314,846 shares of the company's stock were exchanged, compared to its average volume of 16,323,354. Carnival Corporation has a 52 week low of $15.07 and a 52 week high of $32.80. 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 market cap of $35.68 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 0.68 and a beta of 2.70. The stock's 50-day simple moving average is $30.40 and its 200 day simple moving average is $24.84.

Carnival (NYSE:CCL - Get Free Report) last posted 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. Carnival had a return on equity of 27.88% and a net margin of 9.72%.The business had revenue of $6.33 billion during the quarter, compared to analysts' expectations of $6.20 billion. During the same quarter last year, the company posted $0.11 earnings per share. Carnival's quarterly revenue was up 9.5% on a year-over-year basis. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. On average, analysts expect that Carnival Corporation will post 1.77 earnings per share for the current fiscal 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.