The Carlyle Group LP (CG) Downgraded by Zacks Investment Research to “Hold”
The Carlyle Group LP (NASDAQ:CG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “The Carlyle Group is a global alternative asset manager. The Company invests across four segments: Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Its Corporate Private Equity segment advises the Company’s buyout and growth capital funds. The Real Assets segment advises the Company’s United States and internationally-focused real estate and infrastructure funds, energy and renewable resources funds. Its Global Market Strategies segment advises a group of funds that pursue investment opportunities across various types of credit, equities and alternative instruments and currencies, commodities and interest rate products and their derivatives. Its Fund of Funds Solutions segment advises a global private equity fund of funds program and related co-investment and secondary activities. The Carlyle Group is based in Washington, District of Columbia. “
A number of other equities analysts have also commented on CG. Deutsche Bank AG decreased their price objective on shares of The Carlyle Group from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Thursday, June 16th. Citigroup Inc. raised their price objective on shares of The Carlyle Group from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, July 28th. Jefferies Group raised their price objective on shares of The Carlyle Group from $16.50 to $17.00 and gave the stock a “hold” rating in a research note on Tuesday, August 2nd. Barclays PLC raised their price objective on shares of The Carlyle Group from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 9th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $20.00 price objective on shares of The Carlyle Group in a research note on Sunday, September 11th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $18.86.
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The Carlyle Group (NASDAQ:CG) traded up 0.13% during mid-day trading on Monday, hitting $15.55. The stock had a trading volume of 149,418 shares. The firm’s 50-day moving average is $15.68 and its 200 day moving average is $16.24. The Carlyle Group has a one year low of $11.25 and a one year high of $20.65. The stock’s market cap is $1.27 billion.
The Carlyle Group (NASDAQ:CG) last issued its earnings results on Wednesday, July 27th. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.04. The firm earned $488.10 million during the quarter, compared to analysts’ expectations of $501 million. The Carlyle Group had a negative net margin of 3.44% and a positive return on equity of 3.99%. The firm’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. Equities research analysts expect that The Carlyle Group will post $0.48 EPS for the current year.
In other news, insider Pamela L. Bentley sold 13,292 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $16.13, for a total transaction of $214,399.96. Following the transaction, the insider now owns 148,786 shares in the company, valued at approximately $2,399,918.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Jeffrey W. Ferguson sold 10,498 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $16.13, for a total transaction of $169,332.74. Following the transaction, the general counsel now owns 74,314 shares in the company, valued at approximately $1,198,684.82. The disclosure for this sale can be found here.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Perigon Wealth Management LLC bought a new position in The Carlyle Group during the second quarter valued at about $992,000. Stifel Financial Corp raised its stake in shares of The Carlyle Group by 48.2% in the second quarter. Stifel Financial Corp now owns 48,760 shares of the company’s stock valued at $791,000 after buying an additional 15,852 shares during the period. National Asset Management Inc. raised its stake in shares of The Carlyle Group by 36.9% in the second quarter. National Asset Management Inc. now owns 16,535 shares of the company’s stock valued at $269,000 after buying an additional 4,456 shares during the period. Veritable L.P. raised its stake in shares of The Carlyle Group by 52.5% in the second quarter. Veritable L.P. now owns 15,650 shares of the company’s stock valued at $254,000 after buying an additional 5,390 shares during the period. Finally, Barclays PLC raised its stake in shares of The Carlyle Group by 4,819.1% in the second quarter. Barclays PLC now owns 23,218 shares of the company’s stock valued at $376,000 after buying an additional 22,746 shares during the period. Institutional investors own 43.24% of the company’s stock.
The Carlyle Group Company Profile
The Carlyle Group L.P. is a diversified multi-product global alternative asset management firm. The Company advises on a range of investment funds and other investment vehicles that invests across a range of industries, geographies, asset classes and investment strategies, and seeks to deliver returns for its fund investors.
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