This afternoon we watched Carnival drop -6.0% to a price of $11.74 per share. The large-cap Marine Shipping company is now trading -29.63% below its average target price of $16.69. Analysts have set target prices ranging from $7.0 to $25.0 per share for Carnival, and have given the stock an average rating of buy.
The stock has an above average percentage of its shares sold short at 12.8%, and a short ratio of 4.4. The company's insiders own 8.0% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 52.0% of Carnival's shares being owned by this investor type.
Institutions Invested in Carnival
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Vanguard Group Inc | 10% | 113,237,899 | $1,329,979,110 |
| 2023-06-30 | Blackrock Inc. | 6% | 62,844,960 | $738,114,048 |
| 2023-06-30 | Public Investment Fund | 5% | 50,830,926 | $597,009,220 |
| 2023-06-30 | State Street Corporation | 3% | 37,913,463 | $445,293,618 |
| 2023-06-30 | BESSEMER GROUP, INCORPORATED | 3% | 35,748,000 | $419,860,255 |
| 2023-06-30 | Geode Capital Management, LLC | 2% | 21,069,510 | $247,461,392 |
| 2023-06-30 | Morgan Stanley | 1% | 16,673,641 | $195,831,911 |
| 2023-06-30 | Northern Trust Corporation | 1% | 14,272,718 | $167,633,071 |
| 2023-06-30 | Two Sigma Investments, LP | 1% | 12,585,195 | $147,813,113 |
| 2023-06-30 | Two Sigma Advisers, LP | 1% | 10,200,700 | $119,807,220 |
Besides an analyst consensus of strong upside potential, other market factors point to there being positive market sentiment on Carnival.
