What Do Hedge Funds Think of Carnival Corporation (CCL)?

As aggregate interest increased, specific money managers have jumped into Carnival Corporation (NYSE:CCL) headfirst. Aristeia Capital, managed by Robert Henry Lynch, initiated the most valuable position in Carnival Corporation (NYSE:CCL). Aristeia Capital had $53.6 million invested in the company at the end of the quarter. Stanley Druckenmiller’s Duquesne Capital also made a $19.3 million investment in the stock during the quarter. The following funds were also among the new CCL investors: Ken Heebner’s Capital Growth Management, Joel Greenblatt’s Gotham Asset Management, and Matthew Tewksbury’s Stevens Capital Management.

Let’s also examine hedge fund activity in other stocks similar to Carnival Corporation (NYSE:CCL). We will take a look at Itau Unibanco Holding SA (ADR) (NYSE:ITUB), EOG Resources Inc (NYSE:EOG), Monsanto Company (NYSE:MON), and Kimberly Clark Corp (NYSE:KMB). This group of stocks’ market caps are closest to CCL’s market cap.

As you can see these stocks had an average of 43 hedge funds with bullish positions and the average amount invested in these stocks was $1,510 million. That figure was $2,125 million in CCL’s case. EOG Resources Inc (NYSE:EOG) is the most popular stock in this table. On the other hand Itau Unibanco Holding SA (ADR) (NYSE:ITUB) is the least popular one with only 18 bullish hedge fund positions. Carnival Corporation (NYSE:CCL) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard EOG might be a better candidate to consider a long position.