Sunpointe LLC Takes $1.33 Million Position in Carnival Corporation $CCL

Sunpointe LLC acquired a new stake in shares of Carnival Corporation (NYSE:CCL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 47,300 shares of the company’s stock, valued at approximately $1,330,000.

A number of other hedge funds have also recently made changes to their positions in CCL. N.E.W. Advisory Services LLC acquired a new position in shares of Carnival during the first quarter valued at about $25,000. Graybill Wealth Management LTD. bought a new position in shares of Carnival during the first quarter valued at about $26,000. Orion Capital Management LLC bought a new position in shares of Carnival during the fourth quarter valued at about $30,000. Banque Transatlantique SA bought a new position in shares of Carnival during the first quarter valued at about $33,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Carnival during the first quarter valued at about $35,000. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Carnival news, Director Sir Jonathon Band sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total value of $371,875.00. Following the completion of the transaction, the director owned 64,406 shares of the company’s stock, valued at $1,916,078.50. The trade was a 16.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CCL shares. Stifel Nicolaus raised their price target on shares of Carnival from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, June 25th. Susquehanna raised their price target on shares of Carnival from $27.00 to $30.00 and gave the company a “positive” rating in a research report on Wednesday, June 25th. Truist Financial raised their price target on shares of Carnival from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Monday, July 21st. TD Cowen started coverage on shares of Carnival in a research report on Tuesday, July 22nd. They set a “buy” rating and a $36.00 price target on the stock. Finally, Tigress Financial raised their price target on shares of Carnival from $32.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.42.

Carnival Price Performance

Shares of NYSE:CCL opened at $31.19 on Wednesday. The company has a 50 day moving average of $30.27 and a 200 day moving average of $24.66. The stock has a market cap of $36.41 billion, a P/E ratio of 16.86, a P/E/G ratio of 0.70 and a beta of 2.70. Carnival Corporation has a 12 month low of $15.07 and a 12 month high of $32.80. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58.

Carnival (NYSE:CCL) last released its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The business had revenue of $6.33 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter in the previous year, the company earned $0.11 EPS. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. As a group, sell-side analysts forecast that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Carnival Profile

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.