Cohen Klingenstein LLC raised its position in Carnival Corp (NYSE:CCL) by 170.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,174 shares of the company’s stock after acquiring an additional 94,681 shares during the period. Cohen Klingenstein LLC’s holdings in Carnival were worth $7,617,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. grew its position in Carnival by 87.2% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 543 shares of the company’s stock worth $27,000 after acquiring an additional 253 shares during the last quarter. Essex Savings Bank acquired a new position in Carnival during the 4th quarter worth $29,000. Sontag Advisory LLC acquired a new position in Carnival during the 4th quarter worth $35,000. Doyle Wealth Management acquired a new position in Carnival during the 4th quarter worth $36,000. Finally, Berman Capital Advisors LLC acquired a new position in Carnival during the 4th quarter worth $39,000. 76.56% of the stock is owned by hedge funds and other institutional investors.
CCL stock traded up $1.06 during mid-day trading on Tuesday, hitting $54.80. 3,464,476 shares of the company were exchanged, compared to its average volume of 4,052,883. The company has a quick ratio of 0.17, a current ratio of 0.22 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $28.59 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.08 and a beta of 1.24. Carnival Corp has a 1-year low of $45.64 and a 1-year high of $67.69.
CCL has been the topic of several research reports. Cleveland Research raised Carnival from a “neutral” rating to a “buy” rating in a report on Monday, December 17th. Zacks Investment Research raised Carnival from a “sell” rating to a “hold” rating in a research note on Wednesday, December 19th. Deutsche Bank cut their price target on Carnival to $60.00 and set a “hold” rating on the stock in a research note on Friday, December 21st. Barclays cut their price target on Carnival from $70.00 to $69.00 and set an “overweight” rating on the stock in a research note on Friday, December 21st. Finally, SunTrust Banks cut their price target on Carnival from $77.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, December 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $66.70.
In other Carnival news, General Counsel Arnaldo Perez sold 5,691 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $57.08, for a total transaction of $324,842.28. Following the completion of the sale, the general counsel now directly owns 43,724 shares in the company, valued at $2,495,765.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David Bernstein sold 24,682 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $57.08, for a total transaction of $1,408,848.56. Following the sale, the chief financial officer now owns 70,362 shares of the company’s stock, valued at $4,016,262.96. The disclosure for this sale can be found here. Insiders have sold 62,536 shares of company stock valued at $3,569,555 over the last 90 days. Company insiders own 24.10% of the company’s stock.
Carnival Company Profile
Carnival Corporation operates as a leisure travel company in North America, Australia, Europe, and Asia. It operates in four segments: North America and Australia Cruise Operations, Europe and Asia Cruise Operations, Cruise Support, and Tour and Other. The company operates cruises under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa, AIDA, P&O Cruises (UK), and Cunard brand names.
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