Newbridge Financial Services Group Inc. Trims Stake in Carnival Co. & plc (NYSE:CCL)

Posted by Defense World Staff on Mar 26th, 2023

Newbridge Financial Services Group Inc. reduced its position in shares of Carnival Co. & plc (NYSE:CCL – Get Rating) by 30.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,899 shares of the company’s stock after selling 2,117 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Carnival Co. & were worth $39,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CCL. American Century Companies Inc. grew its position in shares of Carnival Co. & by 13.3% during the 1st quarter. American Century Companies Inc. now owns 33,016 shares of the company’s stock valued at $667,000 after purchasing an additional 3,869 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Carnival Co. & by 7.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 108,222 shares of the company’s stock valued at $2,188,000 after purchasing an additional 7,248 shares in the last quarter. Yousif Capital Management LLC grew its position in shares of Carnival Co. & by 3.4% during the 1st quarter. Yousif Capital Management LLC now owns 137,825 shares of the company’s stock valued at $2,787,000 after purchasing an additional 4,536 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Carnival Co. & by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,734,230 shares of the company’s stock worth $95,697,000 after acquiring an additional 93,169 shares during the last quarter. Finally, Aviva PLC lifted its holdings in shares of Carnival Co. & by 25.5% during the 1st quarter. Aviva PLC now owns 152,741 shares of the company’s stock worth $3,088,000 after acquiring an additional 31,037 shares during the last quarter. 49.87% of the stock is currently owned by hedge funds and other institutional investors.

Carnival Co. & Stock Performance

Shares of NYSE CCL opened at $9.23 on Friday. The company’s fifty day moving average price is $10.62 and its 200 day moving average price is $9.52. Carnival Co. & plc has a 1 year low of $6.11 and a 1 year high of $21.50. The company has a market capitalization of $10.28 billion, a PE ratio of -1.78 and a beta of 2.22. The company has a debt-to-equity ratio of 4.52, a quick ratio of 0.67 and a current ratio of 0.71.

Carnival Co. & (NYSE:CCL – Get Rating) last announced its quarterly earnings results on Wednesday, December 21st. The company reported ($0.85) earnings per share (EPS) 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 firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.96 billion. On average, research analysts predict that Carnival Co. & plc will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CCL shares. Credit Suisse Group dropped their price objective on shares of Carnival Co. & from $19.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, December 22nd. Morgan Stanley boosted their price target on shares of Carnival Co. & from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 10th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $13.00 price objective on shares of Carnival Co. & in a report on Tuesday, December 6th. StockNews.com began coverage on shares of Carnival Co. & in a report on Thursday, March 16th. They issued a “sell” rating on the stock. Finally, Stifel Nicolaus upped their target price on shares of Carnival Co. & from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, December 14th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.71.

Insider Buying and Selling

In related news, CFO David Bernstein sold 107,119 shares of the stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $11.08, for a total transaction of $1,186,878.52. Following the sale, the chief financial officer now directly owns 286,041 shares of the company’s stock, valued at $3,169,334.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 11.10% of the stock is currently owned by insiders.

Carnival Co. & Company 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.