Spirepoint Private Client LLC Makes New Investment in Carnival Corporation (NYSE:CCL)

Spirepoint Private Client LLC purchased a new stake in Carnival Corporation (NYSE:CCL) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 10,729 shares of the company’s stock, valued at approximately $210,000.

A number of other hedge funds have also modified their holdings of CCL. Illinois Municipal Retirement Fund raised its holdings in Carnival by 153.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 336,502 shares of the company’s stock valued at $8,386,000 after buying an additional 203,710 shares during the period. Private Advisor Group LLC increased its position in shares of Carnival by 26.6% during the fourth quarter. Private Advisor Group LLC now owns 86,837 shares of the company’s stock valued at $2,164,000 after acquiring an additional 18,269 shares during the last quarter. Norges Bank purchased a new stake in shares of Carnival in the 4th quarter valued at approximately $59,486,000. Charles Schwab Investment Management Inc. raised its stake in shares of Carnival by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,249,810 shares of the company’s stock valued at $155,745,000 after acquiring an additional 223,195 shares during the period. Finally, Beck Bode LLC acquired a new position in shares of Carnival in the 4th quarter worth approximately $5,715,000. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CCL shares. Loop Capital reiterated a “hold” rating and issued a $22.00 target price on shares of Carnival in a report on Monday. BNP Paribas assumed coverage on Carnival in a research note on Thursday, March 27th. They issued an “outperform” rating and a $26.00 price objective for the company. Mizuho increased their target price on Carnival from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, March 24th. William Blair reiterated an “outperform” rating on shares of Carnival in a research note on Monday, March 10th. Finally, Hsbc Global Res raised shares of Carnival from a “moderate sell” rating to a “hold” rating in a research report on Friday, May 16th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.79.

Carnival Trading Up 7.0%

Shares of NYSE:CCL opened at $25.72 on Wednesday. Carnival Corporation has a 52 week low of $13.78 and a 52 week high of $28.72. The company’s 50 day moving average is $21.73 and its two-hundred day moving average is $22.81. The company has a market cap of $30.00 billion, a PE ratio of 17.14, a P/E/G ratio of 0.56 and a beta of 2.58. The company has a current ratio of 0.26, a quick ratio of 0.21 and a debt-to-equity ratio of 2.78.

Carnival (NYSE:CCL) last posted its earnings results on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.24 by $0.11. Carnival had a return on equity of 26.53% and a net margin of 8.07%. The firm had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the prior year, the company posted $0.11 earnings per share. Carnival’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities analysts predict that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

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.