Regent Investment Management LLC Raises Holdings in Carnival Corp (CCL)

Regent Investment Management LLC grew its position in Carnival Corp (NYSE:CCL) by 14.0% during the 1st quarter, Holdings Channel reports. The firm owned 53,138 shares of the company’s stock after acquiring an additional 6,525 shares during the quarter. Regent Investment Management LLC’s holdings in Carnival were worth $2,695,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. FTB Advisors Inc. increased its position in Carnival by 18.0% in the 4th quarter. FTB Advisors Inc. now owns 3,481 shares of the company’s stock worth $171,000 after purchasing an additional 532 shares during the last quarter. Legal & General Group Plc increased its position in Carnival by 8.6% in the 4th quarter. Legal & General Group Plc now owns 2,383,898 shares of the company’s stock worth $117,488,000 after purchasing an additional 188,640 shares during the last quarter. Chartwell Investment Partners LLC increased its position in Carnival by 10.0% in the 4th quarter. Chartwell Investment Partners LLC now owns 246,448 shares of the company’s stock worth $12,150,000 after purchasing an additional 22,373 shares during the last quarter. First Merchants Corp increased its position in Carnival by 6.3% in the 4th quarter. First Merchants Corp now owns 35,110 shares of the company’s stock worth $1,731,000 after purchasing an additional 2,072 shares during the last quarter. Finally, MA Private Wealth acquired a new position in Carnival in the 4th quarter worth about $308,000. 76.56% of the stock is currently owned by institutional investors.

NYSE:CCL traded down $0.39 during mid-day trading on Monday, hitting $53.24. 54,295 shares of the company’s stock traded hands, compared to its average volume of 4,911,254. Carnival Corp has a 12 month low of $45.64 and a 12 month high of $67.69. The company has a market cap of $28.26 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.08 and a beta of 1.23. The company has a quick ratio of 0.17, a current ratio of 0.22 and a debt-to-equity ratio of 0.38.

Carnival (NYSE:CCL) last announced its earnings results on Tuesday, March 26th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. Carnival had a return on equity of 12.30% and a net margin of 16.03%. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the prior year, the company earned $0.52 EPS. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. Analysts anticipate that Carnival Corp will post 4.54 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.00 annualized dividend and a yield of 3.76%. Carnival’s payout ratio is 46.95%.

Several research analysts have weighed in on CCL shares. Standpoint Research started coverage on Carnival in a research report on Wednesday, December 26th. They issued an “accumulate” rating on the stock. ValuEngine downgraded Carnival from a “hold” rating to a “sell” rating in a research note on Wednesday, December 26th. Morgan Stanley decreased their price target on Carnival from $63.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, January 7th. Wells Fargo & Co decreased their price target on Carnival from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, January 10th. Finally, Macquarie upgraded Carnival from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $58.00 to $66.00 in a research note on Friday, January 25th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $66.70.

In other Carnival news, CEO Stein Kruse sold 32,163 shares of the company’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 value of $1,835,864.04. Following the completion of the transaction, the chief executive officer now owns 92,198 shares of the company’s stock, valued at approximately $5,262,661.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Arnaldo Perez sold 5,691 shares of the company’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 value of $324,842.28. Following the completion of the transaction, the general counsel now directly owns 43,724 shares of the company’s stock, valued at approximately $2,495,765.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,536 shares of company stock valued at $3,569,555. 24.10% of the stock is owned by corporate insiders.

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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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Institutional Ownership by Quarter for Carnival (NYSE:CCL)

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