The Carlyle Group (CG) PT Lowered to $24.00
The Carlyle Group (NASDAQ:CG) had its price target reduced by equities researchers at Deutsche Bank from $26.00 to $24.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Deutsche Bank’s price objective would suggest a potential upside of 18.34% from the stock’s current price.
Several other brokerages also recently issued reports on CG. Oppenheimer set a $35.00 target price on The Carlyle Group and gave the company a “buy” rating in a research note on Wednesday, August 1st. BidaskClub downgraded The Carlyle Group from a “hold” rating to a “sell” rating in a research note on Saturday, September 1st. ValuEngine downgraded The Carlyle Group from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Morgan Stanley reduced their price objective on The Carlyle Group from $31.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, July 12th. Finally, Zacks Investment Research raised The Carlyle Group from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Tuesday, July 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. The Carlyle Group currently has a consensus rating of “Buy” and an average target price of $28.90.
Shares of CG opened at $20.28 on Thursday. The company has a market cap of $2.30 billion, a P/E ratio of 5.84 and a beta of 1.79. The Carlyle Group has a 12-month low of $19.50 and a 12-month 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.
In other news, major shareholder Carlyle Group Management L.L.C sold 2,250,000 shares of The Carlyle Group stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $111.91, for a total value of $251,797,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pamela L. Bentley sold 14,179 shares of The Carlyle Group stock in a transaction that occurred 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 completion of the transaction, the insider now owns 136,585 shares of the company’s stock, valued at approximately $3,319,015.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,329,197 shares of company stock worth $253,721,987.
Institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its holdings in shares of The Carlyle Group by 43.0% in 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 period. Tuttle Tactical Management purchased a new position in The Carlyle Group during the 2nd quarter valued at $107,000. Bramshill Investments LLC boosted 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 valued at $4,272,000 after acquiring an additional 46,909 shares during the period. Sit Investment Associates Inc. purchased a new position in The Carlyle Group during the 2nd quarter valued at $1,841,000. Finally, Legal & General Group Plc boosted 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 valued at $8,201,000 after acquiring an additional 23,766 shares during the period. Hedge funds and other institutional investors own 40.48% of the company’s stock.
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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