Stock Traders Buy High Volume of Put Options on Carnival Co. & (NYSE:CCL)

Carnival Co. & plc (NYSE:CCL) was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 81,205 put options on the stock. This represents an increase of 39% compared to the typical daily volume of 58,614 put options.

Carnival Co. & Price Performance

Shares of Carnival Co. & stock traded down $1.47 during trading on Tuesday, reaching $21.79. 25,535,618 shares of the company’s stock were exchanged, compared to its average volume of 26,026,519. Carnival Co. & has a 1-year low of $13.78 and a 1-year high of $28.72. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.25 and a current ratio of 0.29. The firm’s 50-day moving average price is $25.40 and its 200 day moving average price is $22.61. The company has a market cap of $25.37 billion, a P/E ratio of 15.68, a PEG ratio of 0.73 and a beta of 2.64.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Loop Capital assumed coverage on shares of Carnival Co. & in a research note on Tuesday, February 4th. They set a “hold” rating and a $25.00 target price for the company. Wells Fargo & Company raised their price objective on shares of Carnival Co. & from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Morgan Stanley upped their target price on Carnival Co. & from $20.00 to $22.00 and gave the company an “underweight” rating in a research report on Wednesday, January 8th. Bank of America lifted their price target on Carnival Co. & from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Truist Financial upped their price objective on Carnival Co. & from $29.00 to $30.00 and gave the company a “hold” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Carnival Co. & has an average rating of “Moderate Buy” and a consensus price target of $27.11.

Hedge Funds Weigh In On Carnival Co. &

Institutional investors and hedge funds have recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Carnival Co. & during the third quarter worth $25,000. Measured Risk Portfolios Inc. bought a new stake in shares of Carnival Co. & during the 4th quarter valued at about $29,000. Crewe Advisors LLC grew its position in shares of Carnival Co. & by 275.8% during the 4th quarter. Crewe Advisors LLC now owns 1,210 shares of the company’s stock worth $30,000 after buying an additional 888 shares during the period. Orion Capital Management LLC acquired a new stake in Carnival Co. & in the fourth quarter worth $30,000. Finally, Assetmark Inc. grew its stake in shares of Carnival Co. & by 1,431.5% in the 3rd quarter. Assetmark Inc. now owns 1,654 shares of the company’s stock valued at $31,000 after buying an additional 1,546 shares during the period. Institutional investors and hedge funds own 67.19% of the company’s stock.

About Carnival Co. &

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.