New Wave Wealth Advisors LLC Invests $614,000 in Carnival Corporation $CCL

New Wave Wealth Advisors LLC acquired a new position in shares of Carnival Corporation (NYSE:CCL) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 20,111 shares of the company’s stock, valued at approximately $614,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Evolution Wealth Management Inc. acquired a new position in shares of Carnival during the 2nd quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Carnival during the 3rd quarter worth about $25,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Carnival by 381.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the company’s stock valued at $29,000 after purchasing an additional 762 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Carnival by 182.0% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,021 shares of the company’s stock valued at $30,000 after purchasing an additional 659 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Carnival in the 3rd quarter valued at about $30,000. 67.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCL has been the subject of several research reports. Zacks Research downgraded Carnival from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Wells Fargo & Company reduced their target price on Carnival from $40.00 to $37.00 and set an “overweight” rating for the company in a report on Monday, March 30th. TD Cowen reissued a “buy” rating on shares of Carnival in a report on Tuesday, January 13th. Citigroup reduced their target price on Carnival from $39.00 to $35.00 and set a “buy” rating for the company in a report on Monday, March 30th. Finally, Truist Financial reduced their target price on Carnival from $34.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, March 24th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.17.

Insider Activity

In other news, Director Sir Jonathon Band sold 11,988 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $26.19, for a total transaction of $313,965.72. Following the completion of the transaction, the director directly owned 52,601 shares of the company’s stock, valued at approximately $1,377,620.19. This represents a 18.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.90% of the company’s stock.

Carnival Stock Up 1.3%

CCL opened at $25.97 on Tuesday. The business has a 50 day moving average price of $28.61 and a two-hundred day moving average price of $28.57. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 1.82. The company has a market cap of $32.17 billion, a PE ratio of 11.54, a P/E/G ratio of 1.11 and a beta of 2.48. Carnival Corporation has a 52 week low of $15.07 and a 52 week high of $34.03.

Carnival (NYSE:CCL) last posted its quarterly earnings data on Friday, March 27th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.13 billion. Carnival had a return on equity of 26.92% and a net margin of 11.48%.The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 EPS. As a group, research analysts anticipate that Carnival Corporation will post 1.77 EPS for the current year.

Carnival Company Profile

Carnival Corporation (NYSE: CCL) is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company’s core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.