This morning we watched Carnival drop -4.0% to a price of $16.64 per share. The large-cap Marine Shipping company is now trading -19.69% below its average target price of $20.72. Analysts have set target prices ranging from $13.0 to $25.0 per share for Carnival, and have given the stock an average rating of buy.
Carnival has an elevated short interest of 10.9%. The stock's short ratio, or the number of days needed for all shorts to cover their positions, is 2.95. The company's insiders own 8.0% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. 58.5% of Carnival shares are held by institutional investors, which indicates a high level of confidence in the stock.
Institutions Invested in Carnival
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-09-30 | Vanguard Group Inc | 10% | 112,604,680 | $1,873,741,806 |
| 2023-09-30 | Blackrock Inc. | 6% | 63,193,294 | $1,051,536,373 |
| 2023-09-30 | Public Investment Fund | 5% | 50,830,926 | $845,826,577 |
| 2023-09-30 | State Street Corporation | 3% | 37,924,280 | $631,059,996 |
| 2023-09-30 | BESSEMER GROUP, INCORPORATED | 3% | 35,748,252 | $594,850,891 |
| 2023-09-30 | Geode Capital Management, LLC | 2% | 21,513,103 | $357,978,020 |
| 2023-09-30 | Two Sigma Advisers, LP | 2% | 17,369,800 | $289,033,461 |
| 2023-09-30 | Morgan Stanley | 1% | 16,454,783 | $273,807,579 |
| 2023-09-30 | Northern Trust Corporation | 1% | 13,327,942 | $221,776,946 |
| 2023-09-30 | Renaissance Technologies, LLC | 1% | 12,810,623 | $213,168,758 |
For these reasons, we consider that the Carnival is the subject of mixed market sentiment.
