Element Capital Management LLC Acquires Shares of 10,070 Carnival Co. & plc (NYSE:CCL)

Element Capital Management LLC purchased a new stake in Carnival Co. & plc (NYSE:CCL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,070 shares of the company’s stock, valued at approximately $189,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CCL. Point72 Asset Management L.P. increased its stake in shares of Carnival Co. & by 210.1% in the 4th quarter. Point72 Asset Management L.P. now owns 3,894,286 shares of the company’s stock valued at $72,200,000 after purchasing an additional 2,638,564 shares during the last quarter. Norges Bank bought a new position in shares of Carnival Co. & in the 4th quarter valued at $40,236,000. Goldentree Asset Management LP bought a new position in shares of Carnival Co. & in the 1st quarter valued at $31,917,000. Canada Pension Plan Investment Board bought a new stake in Carnival Co. & during the 1st quarter worth $27,302,000. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Carnival Co. & during the 2nd quarter worth $31,192,000. Institutional investors own 67.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CCL. Truist Financial boosted their price objective on Carnival Co. & from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Argus boosted their price objective on Carnival Co. & from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Bank of America boosted their price objective on Carnival Co. & from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Hsbc Global Res upgraded Carnival Co. & to a “moderate sell” rating in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Carnival Co. & from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Carnival Co. & has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

Carnival Co. & Trading Up 2.0 %

NYSE CCL opened at $17.26 on Friday. The firm has a market capitalization of $19.37 billion, a PE ratio of 26.55 and a beta of 2.68. The company has a current ratio of 0.28, a quick ratio of 0.24 and a debt-to-equity ratio of 3.99. The business’s 50-day moving average price is $16.54 and its two-hundred day moving average price is $16.05. Carnival Co. & plc has a 12 month low of $10.84 and a 12 month high of $19.74.

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

About Carnival Co. &

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.