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Is it a Wise Choice to Invest in Carnival Corp. (CCL)?

·2 min read

The investment management company, Miller Value Partners recently released its “Miller Opportunity Equity” second quarter 2022 investment letter, a copy of which can be downloaded here. The firm faced notable challenges due to continued volatility in the last couple of years. In the second quarter, Miller Opportunity was down by -29.3%, extending its first half return to -31.08% net of fees. Over the last 10 years, the fund generated an annualized return of 11.83%. Take a look at the fund’s top 5 holdings to have an idea about their best picks for 2022.

The letter discussed stocks like Carnival Corporation & plc (NYSE:CCL). Carnival Corporation & plc (NYSE:CCL) is a leisure travel company headquartered in Miami, Florida. The stock of Carnival Corporation & plc (NYSE:CCL) closed at $10.54 per share on August 11, 2022. One-month return of Carnival Corporation & plc (NYSE:CCL) rose to 21.01% and its shares lost 54.88% of their value over the last 52 weeks. Carnival Corporation & plc (NYSE:CCL)  has a market capitalization of $13.519 billion.

Here is what Miller Value Partners specifically said about Carnival Corporation & plc (NYSE:CCL):

"Amazingly, some companies like Carnival Corporation & plc (NYSE:CCL) (CCL, which we don’t own) made it back to its March 2020 lows when business was shut down with no sign of return. Carnival already resumed positive operating cash flow generation and disclosed stronger than historical bookings for 2023 at higher prices. The market focused on fear of recession and refinancing risk posed by higher rates."

Most Expensive Cruises in the World

Carnival Corporation & plc (NYSE:CCL) ) is not on the list of  30 Most Popular Stocks Among Hedge Funds. As per our database, Carnival Corporation & plc (NYSE:CCL) was held by 32 hedge fund portfolios at the end of the first quarter, which was 33 in the previous quarter.

We discussed Carnival Corporation & plc (NYSE:CCL) in another article and shared the list of buy-the-dip consumer stocks. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.