Shares of Carnival Corporation (CCL) Sees Large Outflow of Money

Carnival Corporation (CCL) : Money flow in the Carnival Corporation (CCL) stock was negative (1.79 million) on Wednesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $9.55 million, compared to $11.34 million on downticks. The total uptick to downtick ratio was 0.84, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($2.25 million), indicating selling on the strength. Downtick transaction value in block trades amounted to $2.25 million, indicating persistent selling. Carnival Corporation (CCL) traded $0.83 higher at $45.96 gaining 1.83% over the previous days close.


Also, In a research note released to the investors, Goldman Sachs maintains its rating on Carnival Corporation (NYSE:CCL).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Goldman Sachs raises the new price target from $46.5 per share to $52 per share. The rating by the firm was issued on June 29, 2016.

Carnival Corporation (NYSE:CCL): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $45.98 and $45.62 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $46.17. The buying momentum continued till the end and the stock did not give up its gains. It closed at $46.02, notching a gain of 1.97% for the day. The total traded volume was 4,224,480 . The stock had closed at $45.13 on the previous day.

The stock has recorded a 20-day Moving Average of 1.14% and the 50-Day Moving Average is 2.78%. In a related news,The director of Carnival Corp, Glasier Richard sold 10,000 shares at $52.43 on April 1, 2016. The Insider selling transaction had a total value worth of $524,300. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Carnival Corporation is a cruise vacation company. The Company has three cruise segments that consist of North America cruise brands, Europe, Australia & Asia (EAA) cruise brands, and Cruise Support. In addition, it also has a Tour and Other segment. The Company offers its services under nine cruise brands. Its North America segment cruise brands include Carnival Cruise Lines, Holland America Line, Princess Cruises (Princess) and Seabourn. Its EAA segment cruise brands include AIDA Cruises (AIDA), Costa Cruises (Costa), Cunard, P&O Cruises (Australia) and P&O Cruises (United Kingdom). Its Cruise Support segment includes its cruise port and related facilities located in Cozumel, Mexico; Grand Turk, Turks and Caicos Islands, Roatan, Honduras and Puerto Plata, Dominican Republic. In addition to its cruise operations, it owns Holland America Princess Alaska Tours, a tour company in Alaska and the Canadian Yukon.

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