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CQS Cayman Betting Big On The Travel Industry As Summer Heats Up

While Hintze scaled back on his JetBlue holding, he did anything but with his position in Carnival Corp (NYSE:CCL), which now includes 685,478 shares valued at $33.84 million. CQS Cayman upped its stake in the company by 1,215% during the second quarter, vaulting it to the fifth spot on the list of the fund’s top overall long positions. The shares of the cruise vacation company have grown by 12.47% year-to-date, propelled by strong second quarter 2015 financial results. The cruise company surprised the market with earnings per share of $0.25 against market expectations of $0.16. Its reported revenue of $3.59 billion was above analysts’ expectations of $3.56 billion as well. Carnival Corp (NYSE:CCL) is looking to attract more guests with its latest “one-of-a-kind entertainment” program being offered by the Princess Cruises brand of the company. Princess Cruises will organize “The Voice of the Ocean” show presenting real-time performances from contestants, and its guests will be the ones choosing the winners of the competition. Similarly, the Holland America Line brand is coming up with “Dancing with the Stars: At Sea Champions Cruise” to attract more guests. Among the hedge funds that we track at Insider Monkey, Sandy Nairn’s Edinburgh Partners Ltd. holds a large position in the company as of the end of the second quarter, of 2.23 million shares valued at $111.39 million.

Ryanair Holdings plc (ADR) (NASDAQ:RYAAY) is seated in the number three spot in CQS Cayman’s travel industry top picks, with the fund holding 358,380 shares having a market value of $25.52 million. The low-cost airline operates point-to-point, short-haul routes between Ireland, Continental Europe, the United Kingdom, and Morocco. Ryanair Holdings plc (ADR) (NASDAQ:RYAAY) has over 400 aircraft in its current fleet, which is likely to grow to 500 by 2019. In July, the airline company announced round-trip flights for Israel starting at $32 and the company plans to offer bi-weekly flights from Budapest starting in November this year. Israel will the 31st market for Ryanair Holdings plc (ADR) (NASDAQ:RYAAY) and it will help the company strengthen its network in the Middle East. The company reported slightly weaker quarterly results for its fiscal first quarter of 2015 ending on June 30 than anticipated, with EPS of $0.99 against analysts’ expectations of $1.03. Further, its revenue declined by 9.0% year-over-year with reported revenue of $1.80 billion for the quarter. Whitebox Advisors, led by Andy Redleaf, initiated an investment position in the company during the second quarter of 157,809 shares valued at $11.26 million.

Disclosure: None

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