Point72 Asia Singapore Pte. Ltd. Makes New Investment in Carnival Co. & plc (NYSE:CCL)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Carnival Co. & plc (NYSE:CCL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 62,622 shares of the company’s stock, valued at approximately $1,157,000.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Carnival Co. & during the 3rd quarter worth approximately $25,000. Family Firm Inc. purchased a new stake in shares of Carnival Co. & during the 2nd quarter worth approximately $26,000. Hantz Financial Services Inc. purchased a new stake in shares of Carnival Co. & during the 2nd quarter worth approximately $30,000. Assetmark Inc. lifted its position in shares of Carnival Co. & by 1,431.5% during the 3rd quarter. Assetmark Inc. now owns 1,654 shares of the company’s stock worth $31,000 after buying an additional 1,546 shares during the last quarter. Finally, CVA Family Office LLC lifted its position in shares of Carnival Co. & by 163.9% during the 3rd quarter. CVA Family Office LLC now owns 1,940 shares of the company’s stock worth $36,000 after buying an additional 1,205 shares during the last quarter. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Carnival Co. & Stock Performance

Shares of CCL opened at $25.43 on Monday. The company has a 50-day simple moving average of $21.84 and a 200-day simple moving average of $18.43. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 3.10. The company has a market capitalization of $29.35 billion, a PE ratio of 22.71 and a beta of 2.66. Carnival Co. & plc has a 52-week low of $13.78 and a 52-week high of $25.80.

Carnival Co. & (NYSE:CCL) last announced its quarterly earnings results on Monday, September 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 EPS. Equities research analysts predict that Carnival Co. & plc will post 1.33 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Sir Jonathon Band sold 17,500 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $21.72, for a total value of $380,100.00. Following the completion of the transaction, the director now owns 65,789 shares in the company, valued at $1,428,937.08. This trade represents a 21.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 11.00% of the company’s stock.

Analysts Set New Price Targets

CCL has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Carnival Co. & from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Citigroup upped their price target on shares of Carnival Co. & from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Macquarie increased their price target on shares of Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Bank of America increased their price target on shares of Carnival Co. & from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Mizuho increased their price target on shares of Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.91.

Carnival Co. & Company Profile

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.