Ring Mountain Capital LLC Trims Position in Carnival Corporation (NYSE:CCL)

Ring Mountain Capital LLC decreased its position in shares of Carnival Corporation (NYSE:CCL) by 15.2% in the first quarter, HoldingsChannel reports. The fund owned 11,325 shares of the company’s stock after selling 2,030 shares during the quarter. Ring Mountain Capital LLC’s holdings in Carnival were worth $221,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Graybill Wealth Management LTD. acquired a new position in Carnival during the first quarter worth $26,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Carnival during the fourth quarter worth about $29,000. Orion Capital Management LLC acquired a new stake in Carnival in the fourth quarter valued at approximately $30,000. Millstone Evans Group LLC purchased a new position in shares of Carnival during the fourth quarter worth approximately $34,000. Finally, Dunhill Financial LLC grew its position in Carnival by 1,125.0% in the 1st quarter. Dunhill Financial LLC now owns 1,862 shares of the company’s stock valued at $36,000 after buying an additional 1,710 shares during the last quarter. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Wall Street Analyst Weigh In

CCL has been the subject of a number of recent research reports. HSBC upgraded Carnival from a “reduce” rating to a “hold” rating and set a $24.00 price objective for the company in a research report on Friday, May 16th. Northcoast Research initiated coverage on Carnival in a report on Friday, April 25th. They issued a “neutral” rating for the company. Hsbc Global Res raised Carnival from a “moderate sell” rating to a “hold” rating in a research report on Friday, May 16th. BNP Paribas began coverage on Carnival in a report on Thursday, March 27th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, Macquarie reduced their price objective on Carnival from $31.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Carnival has a consensus rating of “Moderate Buy” and a consensus price target of $29.06.

Carnival Trading Up 0.1%

Shares of CCL stock opened at $29.47 on Friday. The stock has a fifty day simple moving average of $25.11 and a two-hundred day simple moving average of $23.17. Carnival Corporation has a 52-week low of $13.78 and a 52-week high of $30.46. The firm has a market capitalization of $34.41 billion, a PE ratio of 15.93, a PEG ratio of 0.64 and a beta of 2.61. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34.

Carnival (NYSE:CCL) last released its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.24 by $0.11. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The business had revenue of $6.33 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter in the prior year, the firm earned $0.11 EPS. The business’s revenue was up 9.5% on a year-over-year basis. On average, analysts predict that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Carnival 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.