Carnival Co. & plc (NYSE:CCL) Sees Large Drop in Short Interest

Carnival Co. & plc (NYSE:CCL) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 62,930,000 shares, a decrease of 6.0% from the October 15th total of 66,960,000 shares. Based on an average daily volume of 27,350,000 shares, the short-interest ratio is presently 2.3 days.

Carnival Co. & Stock Performance

Shares of NYSE CCL opened at $25.13 on Wednesday. The business’s 50-day simple moving average is $20.66 and its 200-day simple moving average is $17.82. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.26 and a current ratio of 0.30. Carnival Co. & has a 52 week low of $13.78 and a 52 week high of $25.22. The firm has a market cap of $29.00 billion, a price-to-earnings ratio of 22.44 and a beta of 2.66.

Carnival Co. & (NYSE:CCL) last posted its quarterly earnings data on Monday, September 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.10. The business had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.82 billion. Carnival Co. & had a net margin of 6.39% and a return on equity of 22.30%. Carnival Co. &’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. As a group, equities research analysts expect that Carnival Co. & will post 1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carnival Co. & news, Director Sir Jonathon Band sold 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $21.72, for a total value of $380,100.00. Following the completion of the sale, the director now directly owns 65,789 shares in the company, valued at $1,428,937.08. This represents a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.00% of the stock is currently owned by insiders.

Institutional Trading of Carnival Co. &

Several hedge funds have recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Carnival Co. & in the second quarter worth $466,838,000. Marshall Wace LLP grew its position in Carnival Co. & by 510.5% during the second quarter. Marshall Wace LLP now owns 10,331,092 shares of the company’s stock worth $193,398,000 after buying an additional 8,638,865 shares in the last quarter. Mizuho Securities USA LLC increased its stake in Carnival Co. & by 8,431.1% during the third quarter. Mizuho Securities USA LLC now owns 6,644,000 shares of the company’s stock valued at $122,781,000 after acquiring an additional 6,566,120 shares during the period. Renaissance Technologies LLC raised its holdings in Carnival Co. & by 43.6% in the 2nd quarter. Renaissance Technologies LLC now owns 9,585,200 shares of the company’s stock valued at $179,435,000 after acquiring an additional 2,911,100 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Carnival Co. & by 2,400.1% in the third quarter. International Assets Investment Management LLC now owns 3,010,189 shares of the company’s stock valued at $556,280,000 after purchasing an additional 2,889,785 shares in the last quarter. Institutional investors own 67.19% of the company’s stock.

Wall Street Analyst Weigh In

CCL has been the subject of a number of research analyst reports. Stifel Nicolaus upped their target price on Carnival Co. & from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Hsbc Global Res upgraded Carnival Co. & to a “moderate sell” rating in a research report on Tuesday, September 3rd. Morgan Stanley increased their price objective on Carnival Co. & from $15.00 to $16.50 and gave the company an “underweight” rating in a research report on Tuesday, October 1st. Bank of America increased their price objective on Carnival Co. & from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Truist Financial increased their price objective on Carnival Co. & from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.78.

About Carnival Co. &

Carnival Corporation & plc engages in the provision of leisure travel services in North America, Australia, Europe, Asia, and internationally. The company operates through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other. It operates port destinations, private islands, and a solar park, as well as owns and operates hotels, lodges, glass-domed railcars, and motor coaches.