Centiva Capital LP Sells 76,357 Shares of Carnival Co. & plc (NYSE:CCL)

Posted by Defense World Staff on Feb 27th, 2023

Centiva Capital LP lessened its stake in shares of Carnival Co. & plc (NYSE:CCL – Get Rating) by 86.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,776 shares of the company’s stock after selling 76,357 shares during the quarter. Centiva Capital LP’s holdings in Carnival Co. & were worth $83,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CCL. Lido Advisors LLC lifted its position in Carnival Co. & by 0.4% during the first quarter. Lido Advisors LLC now owns 189,260 shares of the company’s stock valued at $3,826,000 after acquiring an additional 803 shares during the last quarter. Retirement Systems of Alabama grew its stake in Carnival Co. & by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 269,039 shares of the company’s stock worth $2,327,000 after buying an additional 1,055 shares during the last quarter. Global Retirement Partners LLC increased its position in Carnival Co. & by 10.4% during the 3rd quarter. Global Retirement Partners LLC now owns 12,836 shares of the company’s stock valued at $116,000 after buying an additional 1,214 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Carnival Co. & by 7.7% in the third quarter. Sequoia Financial Advisors LLC now owns 19,083 shares of the company’s stock valued at $134,000 after buying an additional 1,362 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Carnival Co. & by 0.5% in the second quarter. Victory Capital Management Inc. now owns 285,193 shares of the company’s stock worth $2,467,000 after acquiring an additional 1,412 shares in the last quarter. 49.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Carnival Co. & from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Tuesday, January 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $13.00 price objective on shares of Carnival Co. & in a research note on Tuesday, December 6th. Citigroup upped their target price on Carnival Co. & from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, January 31st. UBS Group lowered their price target on Carnival Co. & from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, January 9th. Finally, Wells Fargo & Company cut their price objective on Carnival Co. & from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Thursday, December 22nd. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.71.

Carnival Co. & Stock Performance

CCL opened at $10.59 on Monday. The firm has a fifty day moving average price of $10.15 and a 200 day moving average price of $9.55. Carnival Co. & plc has a 1 year low of $6.11 and a 1 year high of $21.50. The stock has a market cap of $11.79 billion, a P/E ratio of -2.04 and a beta of 2.22. The company has a debt-to-equity ratio of 4.52, a current ratio of 0.71 and a quick ratio of 0.67.

Carnival Co. & (NYSE:CCL – Get Rating) last issued its quarterly earnings data on Wednesday, December 21st. The company reported ($0.85) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.04. Carnival Co. & had a negative net margin of 50.07% and a negative return on equity of 64.76%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.96 billion. Equities research analysts anticipate that Carnival Co. & plc will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO David Bernstein sold 107,119 shares of the business’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $11.08, for a total value of $1,186,878.52. Following the completion of the sale, the chief financial officer now directly owns 286,041 shares in the company, valued at $3,169,334.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.50% of the stock is currently owned by company insiders.

Carnival Co. & Profile

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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.