Robert Dickinson, a board member and former President and CEO of Carnival Cruise Lines at Carnival (CCL, 1793p) is using the recent bounce in the share price from a low of 1450p to sell down his holding in the Carnival and P&O cruise line business.

On June 24th he sold 18,000 shares at 1761p, realising £317,000.

On August 1st he sold 40,000 shares at 1864p, realising £715,000.

This leaves him with 160,000 shares in CCL.

Is Dickinson planning a cruise for his retirement, or does he think that the risks are on the downside for CCL ?

August 11th: Carnival announce that on August 8th Howard Frank, Vice Chairman and Chief operating Officer sold 66,000 shares at an average price of $ 39.6159    taking his holding in Carnival to 294,416 shares.

So now Frank and Dickinson between them have taken about $4.5m or £2 1/4m out of Carnival shares in the last 8 weeks. Not a positive indicator for the shares.

The ‘strength of signal’ derived from directors dealings moves from medium to STRONG.

I tend to concur with the Telegraph article of 29th June ‘Carnival shares no safe harbour’. Link to article here.