Hennessy Advisors Inc. trimmed its holdings in The Carlyle Group LP (NASDAQ:CG) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 156,900 shares of the financial services provider’s stock after selling 5,100 shares during the period. Hennessy Advisors Inc. owned 0.15% of The Carlyle Group worth $3,538,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CG. BNP Paribas Arbitrage SA lifted its holdings in The Carlyle Group by 43.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 15,950 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 4,799 shares during the last quarter. Tuttle Tactical Management acquired a new stake in The Carlyle Group during the 2nd quarter worth approximately $107,000. Bramshill Investments LLC lifted its holdings in The Carlyle Group by 30.5% during the 2nd quarter. Bramshill Investments LLC now owns 200,574 shares of the financial services provider’s stock worth $4,272,000 after purchasing an additional 46,909 shares during the last quarter. Sit Investment Associates Inc. acquired a new stake in The Carlyle Group during the 2nd quarter worth approximately $1,841,000. Finally, Legal & General Group Plc lifted its holdings in The Carlyle Group by 6.6% during the 2nd quarter. Legal & General Group Plc now owns 385,454 shares of the financial services provider’s stock worth $8,201,000 after purchasing an additional 23,766 shares during the last quarter. 40.48% of the stock is owned by institutional investors.
In other news, insider Pamela L. Bentley sold 14,179 shares of The Carlyle Group stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $24.30, for a total value of $344,549.70. Following the transaction, the insider now owns 136,585 shares in the company, valued at approximately $3,319,015.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Carlyle Group Management L.L.C sold 2,250,000 shares of The Carlyle Group stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $111.91, for a total value of $251,797,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,329,197 shares of company stock worth $253,721,987.
The Carlyle Group stock opened at $20.28 on Friday. The Carlyle Group LP has a one year low of $19.50 and a one year high of $25.90. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.59 and a current ratio of 0.71. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 5.84 and a beta of 1.79.
The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.17. The Carlyle Group had a return on equity of 31.20% and a net margin of 6.37%. The firm had revenue of $840.00 million for the quarter, compared to analyst estimates of $713.35 million. During the same quarter last year, the company earned $0.59 EPS. The company’s revenue was down 2.2% on a year-over-year basis. Equities research analysts expect that The Carlyle Group LP will post 2.43 earnings per share for the current fiscal year.
CG has been the subject of several research reports. Morgan Stanley lifted their price target on The Carlyle Group from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, August 14th. Oppenheimer set a $35.00 price target on The Carlyle Group and gave the stock a “buy” rating in a report on Sunday, September 9th. ValuEngine cut The Carlyle Group from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. BidaskClub lowered The Carlyle Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Finally, Citigroup raised their price objective on The Carlyle Group from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The Carlyle Group currently has a consensus rating of “Buy” and an average target price of $28.90.
The Carlyle Group Company Profile
The Carlyle Group L.P. is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.
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