Long Corridor Asset Management Ltd Takes $4.36 Million Position in Carnival Co. & plc (NYSE:CCL)

Long Corridor Asset Management Ltd acquired a new position in Carnival Co. & plc (NYSE:CCL) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 175,000 shares of the company’s stock, valued at approximately $4,361,000. Carnival Co. & accounts for approximately 3.3% of Long Corridor Asset Management Ltd’s portfolio, making the stock its 10th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC boosted its stake in Carnival Co. & by 275.8% during the fourth quarter. Crewe Advisors LLC now owns 1,210 shares of the company’s stock valued at $30,000 after buying an additional 888 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new position in Carnival Co. & during the fourth quarter valued at $34,000. Millstone Evans Group LLC purchased a new stake in shares of Carnival Co. & in the fourth quarter worth approximately $34,000. 1620 Investment Advisors Inc. purchased a new position in shares of Carnival Co. & during the 4th quarter valued at $42,000. Finally, Crews Bank & Trust acquired a new position in Carnival Co. & in the 4th quarter worth about $50,000. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CCL shares. Sanford C. Bernstein started coverage on shares of Carnival Co. & in a research note on Tuesday, November 26th. They issued a “market perform” rating and a $26.00 price objective for the company. Wells Fargo & Company increased their target price 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. Loop Capital cut their target price on shares of Carnival Co. & from $25.00 to $21.00 and set a “hold” rating on the stock in a research report on Monday. Mizuho increased their target price on Carnival Co. & from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Morgan Stanley lifted their price objective on Carnival Co. & from $20.00 to $22.00 and gave the company an “underweight” rating in a report on Wednesday, January 8th. One equities research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.72.

Carnival Co. & Stock Performance

CCL opened at $21.46 on Tuesday. The company has a quick ratio of 0.25, a current ratio of 0.29 and a debt-to-equity ratio of 2.80. The stock has a market cap of $24.98 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 0.73 and a beta of 2.66. Carnival Co. & plc has a 12-month low of $13.78 and a 12-month high of $28.72. The business has a 50 day moving average of $24.14 and a 200-day moving average of $23.07.

Carnival Co. & (NYSE:CCL) last announced its quarterly earnings results on Friday, March 21st. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. The business had revenue of $5.81 billion for the quarter, compared to analyst estimates of $5.74 billion. Carnival Co. & had a net margin of 7.66% and a return on equity of 24.13%. Carnival Co. &’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) EPS. On average, equities research analysts expect that Carnival Co. & plc will post 1.77 earnings per share for the current 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.