CenterBook Partners LP Decreases Position in Carnival Corporation $CCL

CenterBook Partners LP lowered its position in Carnival Corporation (NYSE:CCL) by 62.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 68,338 shares of the company’s stock after selling 111,280 shares during the period. CenterBook Partners LP’s holdings in Carnival were worth $2,087,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CCL. BOCHK Asset Management Ltd purchased a new stake in shares of Carnival in the 4th quarter worth about $25,000. Measured Wealth Private Client Group LLC purchased a new position in Carnival during the 3rd quarter valued at about $25,000. Lloyd Advisory Services LLC. acquired a new position in Carnival during the fourth quarter worth about $26,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Carnival by 381.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the company’s stock valued at $29,000 after purchasing an additional 762 shares in the last quarter. Finally, Optima Capital LLC purchased a new stake in shares of Carnival in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 67.19% of the company’s stock.

Analyst Ratings Changes

CCL has been the subject of a number of recent research reports. TD Cowen raised their price objective on shares of Carnival from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Weiss Ratings cut Carnival from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 18th. The Goldman Sachs Group dropped their price target on Carnival from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Stifel Nicolaus cut their price target on Carnival from $40.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Finally, Loop Capital initiated coverage on shares of Carnival in a research note on Monday, June 1st. They issued a “buy” rating and a $36.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.80.

Insider Buying and Selling

In related news, insider Bettina Alejandra Deynes sold 43,058 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.10, for a total value of $1,209,929.80. Following the transaction, the insider owned 69,238 shares in the company, valued at approximately $1,945,587.80. This trade represents a 38.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sir Jonathon Band sold 11,988 shares of Carnival stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $26.19, for a total transaction of $313,965.72. Following the transaction, the director directly owned 52,601 shares in the company, valued at approximately $1,377,620.19. This trade represents a 18.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 55,058 shares of company stock valued at $1,524,195. Corporate insiders own 7.90% of the company’s stock.

Carnival Price Performance

Shares of NYSE:CCL opened at $27.72 on Wednesday. The company has a market cap of $34.34 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.20 and a beta of 2.32. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 1.82. Carnival Corporation has a 52 week low of $22.11 and a 52 week high of $34.03. The business has a fifty day simple moving average of $26.70 and a 200-day simple moving average of $28.10.

Carnival (NYSE:CCL) last issued its quarterly earnings results on Friday, March 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. During the same period last year, the company earned $0.13 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts forecast that Carnival Corporation will post 2.21 EPS for the current year.

Carnival Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, May 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.2%. Carnival’s payout ratio is presently 26.67%.

Carnival Profile

Carnival Corporation (NYSE: CCL) is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company’s core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.