Mad River Investors Has $3.67 Million Stock Position in Carnival Corporation (NYSE:CCL)

Mad River Investors lessened its stake in shares of Carnival Corporation (NYSE:CCL) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,096 shares of the company’s stock after selling 4,800 shares during the quarter. Carnival accounts for about 1.6% of Mad River Investors’ investment portfolio, making the stock its 10th largest position. Mad River Investors’ holdings in Carnival were worth $3,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of CCL. Principal Financial Group Inc. lifted its position in shares of Carnival by 5.6% during the 4th quarter. Principal Financial Group Inc. now owns 1,226,210 shares of the company’s stock worth $30,557,000 after buying an additional 64,793 shares during the period. Sanctuary Advisors LLC raised its position in Carnival by 68.9% in the 4th quarter. Sanctuary Advisors LLC now owns 96,133 shares of the company’s stock valued at $2,396,000 after purchasing an additional 39,205 shares during the last quarter. Venturi Wealth Management LLC raised its position in Carnival by 39.2% in the 4th quarter. Venturi Wealth Management LLC now owns 2,207 shares of the company’s stock valued at $55,000 after purchasing an additional 622 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in Carnival by 21.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 60,658 shares of the company’s stock valued at $1,512,000 after purchasing an additional 10,789 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in Carnival by 26.6% in the 4th quarter. Private Advisor Group LLC now owns 86,837 shares of the company’s stock valued at $2,164,000 after purchasing an additional 18,269 shares during the last quarter. Institutional investors own 67.19% of the company’s stock.

Carnival Stock Up 0.6%

Shares of Carnival stock opened at $23.76 on Friday. The company has a quick ratio of 0.21, a current ratio of 0.26 and a debt-to-equity ratio of 2.78. Carnival Corporation has a 12 month low of $13.78 and a 12 month high of $28.72. The business has a fifty day simple moving average of $21.45 and a 200 day simple moving average of $22.83. The stock has a market cap of $27.72 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 0.55 and a beta of 2.58.

Carnival (NYSE:CCL) last announced its quarterly earnings data on Friday, March 21st. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.11. Carnival had a return on equity of 26.53% and a net margin of 8.07%. The business had revenue of $5.81 billion during the quarter, compared to analysts’ expectations of $5.74 billion. During the same period in the previous year, the firm earned ($0.14) earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. Research analysts predict that Carnival Corporation will post 1.77 EPS for the current year.

Wall Street Analyst Weigh In

CCL has been the subject of several research analyst reports. Loop Capital lifted their price objective on Carnival from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Tuesday, June 3rd. William Blair reiterated an “outperform” rating on shares of Carnival in a research report on Monday, March 10th. HSBC upgraded Carnival from a “reduce” rating to a “hold” rating and set a $24.00 price objective for the company in a research report on Friday, May 16th. Northcoast Research initiated coverage on Carnival in a research report on Friday, April 25th. They issued a “neutral” rating for the company. Finally, Barclays reiterated an “overweight” rating and issued a $30.00 price objective (up previously from $26.00) on shares of Carnival in a research report on Tuesday, June 17th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $26.79.

About Carnival

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.