Quantbot Technologies LP Invests $7.90 Million in Carnival Co. & plc (NYSE:CCL)

Quantbot Technologies LP acquired a new stake in shares of Carnival Co. & plc (NYSE:CCL) in the second quarter, HoldingsChannel reports. The institutional investor acquired 421,760 shares of the company’s stock, valued at approximately $7,895,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its position in shares of Carnival Co. & by 210.1% in the fourth quarter. Point72 Asset Management L.P. now owns 3,894,286 shares of the company’s stock worth $72,200,000 after purchasing an additional 2,638,564 shares during the period. Norges Bank purchased a new position in shares of Carnival Co. & during the 4th quarter valued at $40,236,000. Goldentree Asset Management LP bought a new position in Carnival Co. & in the 1st quarter worth $31,917,000. Canada Pension Plan Investment Board purchased a new stake in Carnival Co. & in the 1st quarter worth $27,302,000. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Carnival Co. & during the second quarter valued at about $31,192,000. 67.19% of the stock is owned by hedge funds and other institutional investors.

Carnival Co. & Stock Up 2.0 %

NYSE:CCL opened at $17.26 on Monday. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.28 and a quick ratio of 0.24. The firm has a market cap of $19.37 billion, a PE ratio of 26.55 and a beta of 2.68. The company has a 50-day moving average of $16.54 and a 200 day moving average of $16.06. Carnival Co. & plc has a 1-year low of $10.84 and a 1-year high of $19.74.

Carnival Co. & (NYSE:CCL) last issued its quarterly earnings data on Tuesday, June 25th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.12. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.68 billion. Carnival Co. & had a net margin of 3.86% and a return on equity of 15.22%. Carnival Co. &’s revenue was up 17.7% compared to the same quarter last year. During the same period last year, the company posted ($0.31) earnings per share. As a group, research analysts anticipate that Carnival Co. & plc will post 1.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Truist Financial upped their price objective on Carnival Co. & from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Argus raised their target price on shares of Carnival Co. & from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Morgan Stanley boosted their target price on Carnival Co. & from $13.50 to $15.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price target on Carnival Co. & from $18.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, June 26th. Finally, Hsbc Global Res upgraded shares of Carnival Co. & to a “moderate sell” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Carnival Co. & currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.25.

Carnival Co. & Company Profile

Carnival Corporation & plc engages in the provision of leisure travel services in North America, Australia, Europe, Asia, and internationally. The company operates through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other. It operates port destinations, private islands, and a solar park, as well as owns and operates hotels, lodges, glass-domed railcars, and motor coaches.