Stock Traders Purchase Large Volume of Call Options on Carnival (NYSE:CCL)

Carnival Corp (NYSE:CCL) was the target of some unusual options trading on Thursday. Stock investors purchased 10,403 call options on the stock. This represents an increase of 1,308% compared to the average volume of 739 call options.

In related news, Director Randall J. Weisenburger acquired 20,000 shares of Carnival stock in a transaction dated Wednesday, July 3rd. The shares were acquired at an average cost of $46.50 per share, for a total transaction of $930,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arnold W. Donald bought 22,050 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was acquired at an average price of $45.23 per share, with a total value of $997,321.50. The disclosure for this purchase can be found here. 24.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC increased its position in Carnival by 0.5% in the 4th quarter. Nuveen Asset Management LLC now owns 34,308 shares of the company’s stock valued at $1,691,000 after acquiring an additional 179 shares during the period. Avestar Capital LLC boosted its stake in shares of Carnival by 13.9% during the 1st quarter. Avestar Capital LLC now owns 1,609 shares of the company’s stock worth $77,000 after acquiring an additional 196 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of Carnival by 9.7% during the 1st quarter. Manchester Capital Management LLC now owns 2,265 shares of the company’s stock worth $115,000 after acquiring an additional 200 shares in the last quarter. Commonwealth Bank of Australia boosted its stake in shares of Carnival by 0.3% during the 1st quarter. Commonwealth Bank of Australia now owns 71,898 shares of the company’s stock worth $3,639,000 after acquiring an additional 200 shares in the last quarter. Finally, Hanson McClain Inc. boosted its stake in shares of Carnival by 16.4% during the 4th quarter. Hanson McClain Inc. now owns 1,424 shares of the company’s stock worth $70,000 after acquiring an additional 201 shares in the last quarter. 74.92% of the stock is currently owned by institutional investors and hedge funds.

CCL traded up $0.43 on Friday, reaching $46.26. The company’s stock had a trading volume of 2,871,892 shares, compared to its average volume of 5,583,565. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.22 and a current ratio of 0.27. The firm has a 50 day moving average of $49.43. Carnival has a 1 year low of $44.76 and a 1 year high of $67.69. The firm has a market cap of $24.15 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 1.09 and a beta of 1.09.

Carnival (NYSE:CCL) last released its earnings results on Thursday, June 20th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. Carnival had a return on equity of 12.15% and a net margin of 15.09%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter last year, the business posted $0.68 EPS. Carnival’s quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts anticipate that Carnival will post 4.34 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.32%. Carnival’s dividend payout ratio (DPR) is 46.95%.

Several equities analysts recently commented on CCL shares. Buckingham Research lowered Carnival from a “buy” rating to a “neutral” rating and dropped their target price for the company from $65.00 to $54.00 in a research note on Monday, April 15th. Nomura upped their price target on Voyager Therapeutics from $26.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Zacks Investment Research lowered GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. ValuEngine upgraded Zillow Group from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Deutsche Bank restated a “buy” rating and set a GBX 430 ($5.62) price target on shares of in a research note on Friday, June 21st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. Carnival currently has a consensus rating of “Hold” and a consensus price target of $61.83.

About Carnival

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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