Carnival Corp (NYSE:CCL) was the target of unusually large options trading on Tuesday. Traders acquired 15,370 put options on the stock. This is an increase of approximately 840% compared to the average daily volume of 1,635 put options.

In related news, CEO Stein Kruse sold 6,966 shares of the business’s stock in a transaction dated Friday, January 11th. The stock was sold at an average price of $52.27, for a total transaction of $364,112.82. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Arnaldo Perez sold 2,290 shares of the business’s stock in a transaction dated Friday, January 11th. The shares were sold at an average price of $52.27, for a total value of $119,698.30. The disclosure for this sale can be found here. Insiders have sold a total of 71,792 shares of company stock valued at $4,053,366 in the last three months. 24.10% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC grew its position in Carnival by 0.5% during the 4th quarter. Nuveen Asset Management LLC now owns 34,308 shares of the company’s stock worth $1,691,000 after acquiring an additional 179 shares during the last quarter. Wetherby Asset Management Inc. grew its position in Carnival by 2.9% during the 4th quarter. Wetherby Asset Management Inc. now owns 6,526 shares of the company’s stock worth $322,000 after acquiring an additional 184 shares during the last quarter. New Potomac Partners LLC grew its position in Carnival by 0.7% during the 4th quarter. New Potomac Partners LLC now owns 30,530 shares of the company’s stock worth $1,505,000 after acquiring an additional 200 shares during the last quarter. Hanson McClain Inc. grew its position in Carnival by 16.4% during the 4th quarter. Hanson McClain Inc. now owns 1,424 shares of the company’s stock worth $70,000 after acquiring an additional 201 shares during the last quarter. Finally, Norman Fields Gottscho Capital Management LLC grew its position in Carnival by 0.8% during the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 31,782 shares of the company’s stock worth $1,567,000 after acquiring an additional 250 shares during the last quarter. Institutional investors own 76.52% of the company’s stock.

Several brokerages recently issued reports on CCL. Nomura lowered their price target on Carnival from $66.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday. Buckingham Research lowered their price target on Carnival from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. Deutsche Bank restated a “hold” rating and set a $59.00 price target on shares of Carnival in a research note on Wednesday. ValuEngine lowered Carnival from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Zacks Investment Research lowered Carnival from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $67.39.

CCL stock opened at $50.66 on Thursday. Carnival has a 1-year low of $45.64 and a 1-year high of $67.69. The company has a market capitalization of $29.85 billion, a PE ratio of 11.89, a P/E/G ratio of 0.89 and a beta of 1.26. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.19 and a current ratio of 0.24.

Carnival (NYSE:CCL) last released its quarterly earnings data on Tuesday, March 26th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. Carnival had a return on equity of 12.44% and a net margin of 16.70%. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the company posted $0.52 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. Analysts forecast that Carnival will post 4.74 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 3.95%. Carnival’s dividend payout ratio is currently 46.95%.

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About Carnival

Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.

See Also: Gross Domestic Product (GDP)

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