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

New Wave Wealth Advisors LLC bought a new position in shares of Carnival Corporation (NYSE:CCL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,111 shares of the company’s stock, valued at approximately $614,000.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Carnival by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 127,764,837 shares of the company’s stock worth $3,693,681,000 after buying an additional 1,101,344 shares in the last quarter. State Street Corp raised its stake in shares of Carnival by 4.1% during the 3rd quarter. State Street Corp now owns 47,369,740 shares of the company’s stock worth $1,369,459,000 after buying an additional 1,845,850 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Carnival by 0.8% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 36,109,629 shares of the company’s stock worth $1,043,929,000 after buying an additional 291,864 shares in the last quarter. Causeway Capital Management LLC raised its stake in shares of Carnival by 9.6% during the 3rd quarter. Causeway Capital Management LLC now owns 31,912,001 shares of the company’s stock worth $922,576,000 after buying an additional 2,783,927 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Carnival by 50.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 14,510,016 shares of the company’s stock worth $419,573,000 after buying an additional 4,883,024 shares in the last quarter. 67.19% of the stock is owned by hedge funds and other institutional investors.

Carnival Stock Performance

Carnival stock opened at $25.97 on Tuesday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.26 and a current ratio of 0.30. The stock has a fifty day moving average of $28.61 and a two-hundred day moving average of $28.57. The company has a market capitalization of $32.17 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.11 and a beta of 2.48. Carnival Corporation has a fifty-two week low of $15.07 and a fifty-two week high of $34.03.

Carnival (NYSE:CCL) last released its quarterly earnings results on Friday, March 27th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. The company 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%.Carnival’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 earnings per share. On average, analysts anticipate that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. The Goldman Sachs Group dropped their price objective on Carnival from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. TD Cowen reaffirmed a “buy” rating on shares of Carnival in a research note on Tuesday, January 13th. Bank of America raised their price objective on Carnival from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, January 12th. William Blair reaffirmed an “outperform” rating on shares of Carnival in a research note on Tuesday, March 3rd. Finally, Truist Financial dropped their price objective on Carnival from $34.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 24th. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.17.

Insiders Place Their Bets

In other Carnival news, Director Sir Jonathon Band sold 11,988 shares of the firm’s stock in a transaction 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 owned 52,601 shares of the company’s stock, valued at approximately $1,377,620.19. This trade represents a 18.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 7.90% of the company’s stock.

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.