LSV Asset Management Sells 6,400 Shares of Carnival Co. & plc (NYSE:CCL)

Posted by on May 15th, 2023

LSV Asset Management cut its stake in shares of Carnival Co. & plc (NYSE:CCL – Get Rating) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 78,610 shares of the company’s stock after selling 6,400 shares during the quarter. LSV Asset Management’s holdings in Carnival Co. & were worth $634,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Accurate Wealth Management LLC bought a new position in shares of Carnival Co. & during the fourth quarter valued at $26,000. Macroview Investment Management LLC bought a new position in shares of Carnival Co. & during the fourth quarter valued at $26,000. Parkside Financial Bank & Trust lifted its holdings in shares of Carnival Co. & by 69.8% during the third quarter. Parkside Financial Bank & Trust now owns 4,147 shares of the company’s stock valued at $29,000 after acquiring an additional 1,705 shares during the period. Spire Wealth Management lifted its holdings in shares of Carnival Co. & by 58.3% during the third quarter. Spire Wealth Management now owns 4,376 shares of the company’s stock valued at $31,000 after acquiring an additional 1,612 shares during the period. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Carnival Co. & by 680.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 4,442 shares of the company’s stock valued at $36,000 after acquiring an additional 3,873 shares during the period. 49.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CCL has been the subject of a number of research analyst reports. Citigroup lifted their price target on Carnival Co. & from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, January 31st. Credit Suisse Group lifted their price target on Carnival Co. & from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Monday, March 27th. JPMorgan Chase & Co. initiated coverage on Carnival Co. & in a report on Friday, April 28th. They issued a “neutral” rating and a $11.00 price target for the company. StockNews.com initiated coverage on Carnival Co. & in a report on Thursday, March 16th. They issued a “sell” rating for the company. Finally, Barclays lifted their price target on Carnival Co. & from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Tuesday, March 28th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.45.

Carnival Co. & Price Performance

Carnival Co. & stock opened at $9.83 on Monday. The firm has a market capitalization of $10.97 billion, a P/E ratio of -2.41 and a beta of 2.22. Carnival Co. & plc has a 1 year low of $6.11 and a 1 year high of $14.96. The business has a 50-day moving average of $9.62 and a 200-day moving average of $9.78. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 5.30.

Carnival Co. & (NYSE:CCL – Get Rating) last posted its earnings results on Monday, March 27th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.05. The company had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.30 billion. Carnival Co. & had a negative return on equity of 57.75% and a negative net margin of 32.68%. The company’s revenue for the quarter was up 173.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.65) EPS. On average, equities analysts anticipate that Carnival Co. & plc will post -0.29 EPS for the current year.

Insider Activity at Carnival Co. &

In related 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 transaction, the chief financial officer now directly owns 286,041 shares in the company, valued at approximately $3,169,334.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.10% of the stock is owned by insiders.

About Carnival Co. &

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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.

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Institutional Ownership by Quarter for Carnival Co. & (NYSE:CCL)

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