Carnival CHRO Sold Double Her Grant, Institutions Buy
Carnival CHRO Bettina Deynes sold 43,058 shares at $28.10 on May 28, more than double the 20,778 shares she received in an annual grant three weeks prior, with the stock now at $28.99. Against four co
Carnival CHRO Sells $1.2M as Institutions Add CCL
NEW YORK, August 9 —
Carnival Corporation Ltd. (CCL), the world's largest cruise company, has seen its stock drift to $28.99, barely a dollar above the $28.10 price at which its chief human resources officer sold $1.21 million in shares on May 28. Two institutional investors disclosed fresh additions to their CCL positions within the past two days.
- CHRO Bettina Deynes sold 43,058 shares at $28.10 on May 28, the only open-market insider sale in 90 days
- Deynes sold more than double her May 8 grant of 20,778 shares, reducing her net CCL position
- Analyst consensus target: $35.55; CCL forward P/E: 11.0x; four consecutive EPS beats, most recently by 20.7%
The Selling Pattern
The grant-then-sell sequence is the detail that cuts. Carnival awarded CHRO Bettina Deynes 20,778 shares on May 8, part of a standard annual grant that also included 190,965 shares to CEO Joshua Weinstein and 49,894 to CFO David Bernstein. Three weeks later, Deynes sold 43,058 shares on the open market at $28.10, more than double what she had just received, reducing her net CCL position. No other executive executed an open-market sale in the same period. Tax-withholding dispositions by nine directors in mid-May are mechanically compelled, not discretionary choices.
Four Straight Beats, Two New Buyers
The outside money sees something different. Czech National Bank and Assenagon Asset Management both disclosed increased CCL positions within the past two days, joining a 66.8% institutional ownership base. Carnival, which operates nine brands including Princess Cruises, Cunard, and Carnival Cruise Line, has beaten consensus EPS estimates in each of the past four quarters, most recently by 20.7%, posting $0.41 against a estimate. Trailing revenue reached $27.31 billion, up 5.3% year-over-year. The forward P/E of 11.0x and a $35.55 analyst consensus target imply roughly 23% upside; test the assumptions with a DCF calculator.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| CCL | $39.7B | 11.0x | +1.3% |
| RCL | $85.6B | 15.8x | +5.7% |
| NCLH | $8.8B | 11.3x | -18.9% |
| AAL | $10.6B | 6.4x | +37.7% |
| DAL | $60.1B | 10.3x | +70.7% |
| UAL | $42.1B | 8.4x | +45.0% |
The Debt Frames the Question
Carnival carries $26.17 billion in total debt against $2.24 billion in cash, which means its $6.79 billion in operating cash flow services debt before it builds equity value. The CHRO's exit price is the near-term benchmark: if subsequent earnings extend the four-quarter beat streak and free cash flow accelerates beyond the $1.9 billion trailing figure, the sale looks like routine timing. If booking trends soften or guidance disappoints, the early exit looks prescient. The next earnings release delivers the most direct evidence. Run the free Carnival Corporation Ltd. deep-dive → to track where the numbers land.
Basis Report is independent research for informational purposes. It is not investment advice and not a recommendation to buy or sell any security.
Frequently Asked Questions
Why did Carnival CHRO sell $1.2M in stock?
Bettina Deynes sold 43,058 shares on the open market at $28.10 on May 28, more than double the 20,778 shares she received in an annual grant on May 8, three weeks earlier. No other executive executed an open-market sale in the same period. Tax-withholding dispositions by nine directors in mid-May are mechanically compelled, not discretionary choices.
Did institutions buy Carnival stock recently?
Czech National Bank and Assenagon Asset Management both disclosed increased positions within the past two days. They join an institutional ownership base that already holds 66.8% of the company.
What is the analyst price target for Carnival stock?
The consensus analyst target is $35.55, against a current price of $28.99, implying roughly 23% upside. Carnival's forward P/E stands at 11.0x.
How has Carnival performed on earnings?
Carnival has beaten consensus EPS estimates in each of the past four quarters. The most recent beat was 20.7%, posting $0.41 against a $0.339 estimate. Trailing revenue reached $27.31 billion, up 5.3% year-over-year.
How much debt does Carnival Corporation carry?
Carnival carries $26.17 billion in total debt against $2.24 billion in cash. Its $6.79 billion in operating cash flow services that debt load, with trailing free cash flow at $1.9 billion.
Carnival Corporation's chief human resources officer sold $1.21 million in shares on the open market at $28.10 in late May — the stock sits at $28.99 today, barely above her exit price. Two institutional investors disclosed position increases in CCL within the past two days.