Why Are CCL Shares Falling Today?

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.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.