Ring Mountain Capital LLC Acquires Shares of 13,355 Carnival Co. & plc (NYSE:CCL)

Ring Mountain Capital LLC acquired a new stake in Carnival Co. & plc (NYSE:CCL) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 13,355 shares of the company’s stock, valued at approximately $333,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. abrdn plc grew its position in Carnival Co. & by 0.5% during the 3rd quarter. abrdn plc now owns 223,518 shares of the company’s stock worth $4,013,000 after acquiring an additional 1,114 shares during the last quarter. Clear Creek Financial Management LLC grew its position in Carnival Co. & by 5.1% during the 3rd quarter. Clear Creek Financial Management LLC now owns 49,252 shares of the company’s stock worth $910,000 after acquiring an additional 2,370 shares during the last quarter. Van ECK Associates Corp grew its position in Carnival Co. & by 2.2% during the 3rd quarter. Van ECK Associates Corp now owns 303,352 shares of the company’s stock worth $5,606,000 after acquiring an additional 6,672 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in Carnival Co. & during the 3rd quarter worth $1,140,000. Finally, National Pension Service grew its position in shares of Carnival Co. & by 50.7% in the 3rd quarter. National Pension Service now owns 2,660,437 shares of the company’s stock valued at $49,165,000 after buying an additional 895,603 shares during the last quarter. 67.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Truist Financial boosted their price objective on Carnival Co. & from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Morgan Stanley boosted their price objective on Carnival Co. & from $20.00 to $22.00 and gave the company an “underweight” rating in a research note on Wednesday, January 8th. Sanford C. Bernstein assumed coverage on Carnival Co. & in a research note on Tuesday, November 26th. They issued a “market perform” rating and a $26.00 price objective on the stock. Mizuho boosted their price objective on Carnival Co. & from $26.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Finally, Stifel Nicolaus boosted their price objective on Carnival Co. & from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Carnival Co. & presently has an average rating of “Moderate Buy” and an average target price of $27.11.

Carnival Co. & Stock Performance

Shares of Carnival Co. & stock opened at $23.26 on Tuesday. The company has a market cap of $27.08 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 0.73 and a beta of 2.64. Carnival Co. & plc has a 52 week low of $13.78 and a 52 week high of $28.72. The business has a 50 day moving average price of $25.40 and a 200-day moving average price of $22.61. The company has a quick ratio of 0.25, a current ratio of 0.29 and a debt-to-equity ratio of 2.80.

Carnival Co. & (NYSE:CCL) last issued its quarterly earnings data on Friday, December 20th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.08 by $0.06. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.94 billion. Carnival Co. & had a return on equity of 24.13% and a net margin of 7.66%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.07) earnings per share. Equities analysts anticipate that Carnival Co. & plc will post 1.77 earnings per share for the current fiscal year.

Carnival Co. & Company 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.