The Carlyle Group (NASDAQ:CG) Lifted to “Strong-Buy” at BidaskClub
CG has been the subject of a number of other research reports. Raymond James reaffirmed a buy rating and set a $10.00 target price on shares of The Carlyle Group in a report on Monday, June 3rd. Barclays initiated coverage on shares of The Carlyle Group in a report on Monday, August 5th. They set an equal weight rating and a $25.00 target price for the company. Finally, Credit Suisse Group raised shares of The Carlyle Group to an outperform rating and upped their price objective for the company from $11.50 to $14.00 in a report on Friday, August 16th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $18.42.
NASDAQ:CG opened at $26.60 on Wednesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.72 and a current ratio of 2.72. The company has a fifty day moving average of $23.30 and a two-hundred day moving average of $21.47. The stock has a market capitalization of $2.94 billion, a PE ratio of 28.91 and a beta of 1.69. The Carlyle Group has a fifty-two week low of $15.09 and a fifty-two week high of $27.00.
In other news, COO Christopher Finn sold 55,138 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $22.85, for a total transaction of $1,259,903.30. Following the sale, the chief operating officer now owns 310,968 shares of the company’s stock, valued at $7,105,618.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Carlyle Group Management L.L.C sold 800,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $110.74, for a total transaction of $88,592,000.00. The disclosure for this sale can be found here. Insiders have sold 984,829 shares of company stock worth $92,815,343 in the last three months.
Large investors have recently modified their holdings of the stock. Augustine Asset Management Inc. raised its holdings in The Carlyle Group by 0.8% in the second quarter. Augustine Asset Management Inc. now owns 68,571 shares of the financial services provider’s stock valued at $1,550,000 after acquiring an additional 527 shares in the last quarter. Stelac Advisory Services LLC raised its holdings in The Carlyle Group by 62.1% in the second quarter. Stelac Advisory Services LLC now owns 16,770 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 6,422 shares in the last quarter. Schafer Cullen Capital Management Inc raised its holdings in The Carlyle Group by 37.9% in the second quarter. Schafer Cullen Capital Management Inc now owns 19,790 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 5,440 shares in the last quarter. Cornerstone Wealth Group LLC raised its holdings in The Carlyle Group by 68.1% in the second quarter. Cornerstone Wealth Group LLC now owns 127,922 shares of the financial services provider’s stock valued at $2,892,000 after acquiring an additional 51,841 shares in the last quarter. Finally, Arlington Partners LLC acquired a new stake in The Carlyle Group in the second quarter valued at approximately $41,000. 44.28% of the stock is currently owned by hedge funds and other institutional investors.
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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