Short Interest in Carnival Corporation (NYSE:CUK) Declines By 26.5%

Carnival Corporation (NYSE:CUK) was the recipient of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 3,860,000 shares, a decline of 26.5% from the May 15th total of 5,250,000 shares. Based on an average daily trading volume, of 1,880,000 shares, the short-interest ratio is currently 2.1 days. Approximately 2.7% of the company’s shares are sold short.

Carnival Trading Up 1.2%

Shares of CUK stock opened at $21.33 on Friday. Carnival has a 1-year low of $12.65 and a 1-year high of $26.14. The company has a current ratio of 0.26, a quick ratio of 0.21 and a debt-to-equity ratio of 2.78. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 14.22 and a beta of 2.67. The stock has a 50-day moving average of $19.29 and a 200-day moving average of $20.71.

Carnival (NYSE:CUK) last issued its quarterly earnings data on Friday, March 21st. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. Carnival had a net margin of 8.07% and a return on equity of 26.53%. The firm had revenue of $5.81 billion during the quarter, compared to analysts’ expectations of $6.19 billion. On average, equities research analysts forecast that Carnival will post 1.7 earnings per share for the current year.

Hedge Funds Weigh In On Carnival

Institutional investors have recently modified their holdings of the business. Legal & General Group Plc grew its position in Carnival by 106.2% during the fourth quarter. Legal & General Group Plc now owns 6,917 shares of the company’s stock valued at $156,000 after buying an additional 3,562 shares during the period. SBI Securities Co. Ltd. purchased a new position in Carnival in the fourth quarter valued at about $158,000. First Trust Advisors LP bought a new position in shares of Carnival during the 4th quarter valued at approximately $202,000. Ameriprise Financial Inc. purchased a new stake in shares of Carnival during the 4th quarter worth approximately $206,000. Finally, Truist Financial Corp purchased a new stake in shares of Carnival during the 4th quarter worth approximately $208,000. 23.80% of the stock is owned by institutional investors.

Carnival Company Profile

Carnival Plc operates as a global cruise and vacation company. The firm offers holiday and vacation products to a customer base that is broadly varied in terms of cultures, languages and leisure-time preferences. It operates through the North America and Australia (NAA), Europe and Asia (EA), Cruise Support, and Tour and Other segments.