Pinebridge Investments L.P. Purchases 350,921 Shares of Carnival Co. & plc (NYSE:CCL)

Pinebridge Investments L.P. raised its stake in shares of Carnival Co. & plc (NYSE:CCL) by 143.8% during the fourth quarter, Holdings Channel reports. The firm owned 594,894 shares of the company’s stock after buying an additional 350,921 shares during the period. Pinebridge Investments L.P.’s holdings in Carnival Co. & were worth $14,825,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CCL. Crewe Advisors LLC raised its position in Carnival Co. & by 275.8% in the 4th quarter. Crewe Advisors LLC now owns 1,210 shares of the company’s stock valued at $30,000 after purchasing an additional 888 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new position in Carnival Co. & in the fourth quarter valued at about $34,000. Millstone Evans Group LLC acquired a new position in Carnival Co. & during the fourth quarter valued at approximately $34,000. 1620 Investment Advisors Inc. bought a new stake in shares of Carnival Co. & in the 4th quarter valued at $42,000. Finally, Morse Asset Management Inc bought a new stake in shares of Carnival Co. & in the third quarter worth about $46,000. 67.19% of the stock is currently owned by institutional investors.

Carnival Co. & Stock Up 2.8 %

Shares of CCL opened at $18.48 on Thursday. Carnival Co. & plc has a 52 week low of $13.78 and a 52 week high of $28.72. The stock has a fifty day moving average of $20.38 and a 200-day moving average of $23.08. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.25 and a current ratio of 0.29. The stock has a market capitalization of $21.56 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 0.73 and a beta of 2.42.

Carnival Co. & (NYSE:CCL) last released its quarterly earnings results on Friday, March 21st. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.11. Carnival Co. & had a net margin of 7.66% and a return on equity of 24.13%. The firm had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter last year, the firm earned ($0.14) earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Carnival Co. & plc will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays cut their price objective on shares of Carnival Co. & from $32.00 to $26.00 and set an “overweight” rating on the stock in a research report on Tuesday. Loop Capital cut their price target on shares of Carnival Co. & from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Monday, March 24th. Tigress Financial reiterated a “buy” rating on shares of Carnival Co. & in a research note on Wednesday, March 26th. StockNews.com raised shares of Carnival Co. & from a “hold” rating to a “buy” rating in a report on Friday, April 18th. Finally, Truist Financial boosted their target price on shares of Carnival Co. & from $29.00 to $30.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Carnival Co. & has a consensus rating of “Moderate Buy” and a consensus target price of $26.53.

Carnival Co. & 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.