Insiders Of Carnival Corporation & Retain US$2.8m Of Investment Selling At Higher Prices
Although we don't think shareholders should simply follow insider transactions, we do think it is perfectly logical to keep tabs on what insiders are doing.
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Over the last year, we can see that the biggest insider sale was by the CFO & Chief Accounting Officer, David Bernstein, for US$2.4m worth of shares, at about US$22.84 per share. So it's clear an insider wanted to take some cash off the table, even below the current price of US$29.96. When an insider sells below the current price, it suggests that they considered that lower price to be fair. That makes us wonder what they think of the (higher) recent valuation. However, while insider selling is sometimes discouraging, it's only a weak signal. We note that the biggest single sale was only 43% of David Bernstein's holding.
Carnival Corporation & insiders didn't buy any shares over the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
View our latest analysis for Carnival Corporation &
If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: Most of them are flying under the radar).
The last three months saw significant insider selling at Carnival Corporation &. Specifically, CFO & Chief Accounting Officer David Bernstein ditched US$2.4m worth of shares in that time, and we didn't record any purchases whatsoever. This may suggest that some insiders think that the shares are not cheap.
For a common shareholder, it is worth checking how many shares are held by company insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. It's great to see that Carnival Corporation & insiders own 6.4% of the company, worth about US$2.6b. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.
An insider hasn't bought Carnival Corporation & stock in the last three months, but there was some selling. And there weren't any purchases to give us comfort, over the last year. But it is good to see that Carnival Corporation & is growing earnings. While insiders do own a lot of shares in the company (which is good), our analysis of their transactions doesn't make us feel confident about the company. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Every company has risks, and we've spotted 2 warning signs for Carnival Corporation & (of which 1 makes us a bit uncomfortable!) you should know about.
Of course Carnival Corporation & may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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