Park Avenue Securities LLC Purchases New Stake in Carnival Corporation $CCL

Park Avenue Securities LLC acquired a new stake in Carnival Corporation (NYSE:CCL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 60,063 shares of the company’s stock, valued at approximately $1,689,000.

Other hedge funds also recently made changes to their positions in the company. Jefferies Financial Group Inc. acquired a new stake in shares of Carnival during the 4th quarter valued at $353,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Carnival in the fourth quarter worth about $11,249,000. Centaurus Financial Inc. acquired a new stake in shares of Carnival in the 4th quarter valued at $348,000. GAMMA Investing LLC increased its holdings in Carnival by 2,135.8% during the 1st quarter. GAMMA Investing LLC now owns 463,974 shares of the company’s stock valued at $9,061,000 after purchasing an additional 443,222 shares in the last quarter. Finally, Rothschild Investment LLC raised its position in Carnival by 7.3% in the 1st quarter. Rothschild Investment LLC now owns 11,740 shares of the company’s stock worth $229,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival Stock Performance

Shares of CCL opened at $30.51 on Friday. The stock has a fifty day moving average price of $30.51 and a 200-day moving average price of $25.09. Carnival Corporation has a 12 month low of $15.07 and a 12 month high of $32.80. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58. The firm has a market cap of $35.62 billion, a PE ratio of 16.49, a P/E/G ratio of 0.67 and a beta of 2.70.

Carnival (NYSE:CCL) last released its quarterly 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 net margin of 9.72% and a return on equity of 27.88%. The company had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the business earned $0.11 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. Equities research analysts predict that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Sir Jonathon Band sold 12,500 shares of Carnival stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total transaction of $371,875.00. Following the completion of the sale, the director directly owned 64,406 shares of the company’s stock, valued at approximately $1,916,078.50. The trade was a 16.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CCL has been the topic of a number of research reports. Barclays lifted their price target on shares of Carnival from $33.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, September 17th. Loop Capital reissued a “hold” rating and issued a $22.00 price objective on shares of Carnival in a research note on Monday, June 23rd. Citigroup lifted their target price on shares of Carnival from $30.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Zacks Research lowered Carnival from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. Finally, Susquehanna increased their price target on Carnival from $27.00 to $30.00 and gave the company a “positive” rating in a research report on Wednesday, June 25th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.95.

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.