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 report released 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. “
Several other equities analysts have also recently issued reports on the company. Deutsche Bank AG reiterated a “hold” rating on shares of The Carlyle Group in a research report on Sunday, July 10th. Credit Suisse Group AG set a $20.00 target price on The Carlyle Group and gave the stock a “hold” rating in a research report on Sunday, September 18th. Jefferies Group boosted their target price on The Carlyle Group from $16.50 to $17.00 and gave the stock a “hold” rating in a research report on Tuesday, August 2nd. Citigroup Inc. boosted their target price on The Carlyle Group from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, July 28th. Finally, Barclays PLC boosted their target price on The Carlyle Group from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 9th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $18.86.
Shares of The Carlyle Group (NASDAQ:CG) traded up 0.13% during trading on Monday, reaching $15.55. The company’s stock had a trading volume of 149,418 shares. The firm’s market capitalization is $1.27 billion. The Carlyle Group has a 52 week low of $11.25 and a 52 week high of $20.65. The company has a 50 day moving average price of $15.68 and a 200 day moving average price of $16.24.
The Carlyle Group (NASDAQ:CG) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.04. The firm had revenue of $488.10 million for the quarter, compared to analysts’ expectations of $501 million. The Carlyle Group had a positive return on equity of 3.99% and a negative net margin of 3.44%. The firm’s revenue for the quarter was down 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, equities research analysts expect that The Carlyle Group will post $0.48 EPS for the current fiscal year.
In other The Carlyle Group news, CFO Curtis L. Buser sold 8,294 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $16.13, for a total value of $133,782.22. Following the completion of the transaction, the chief financial officer now directly owns 193,825 shares in the company, valued at approximately $3,126,397.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Jeffrey W. Ferguson sold 10,498 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $16.13, for a total value of $169,332.74. Following the completion of the transaction, the general counsel now owns 74,314 shares of the company’s stock, valued at $1,198,684.82. The disclosure for this sale can be found here.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Artemis Investment Management LLP increased its position in shares of The Carlyle Group by 140.8% in the second quarter. Artemis Investment Management LLP now owns 2,903,484 shares of the company’s stock valued at $47,138,000 after buying an additional 1,697,847 shares during the period. Goldman Sachs Group Inc. increased its stake in The Carlyle Group by 180.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,708,868 shares of the company’s stock worth $28,846,000 after buying an additional 1,098,471 shares during the last quarter. UBS Group AG increased its stake in The Carlyle Group by 27.2% in the first quarter. UBS Group AG now owns 1,298,918 shares of the company’s stock worth $21,926,000 after buying an additional 277,951 shares during the last quarter. Coronation Fund Managers Ltd. purchased a new stake in The Carlyle Group during the second quarter worth approximately $15,171,000. Finally, Honeywell International Inc. increased its stake in The Carlyle Group by 11.4% in the second quarter. Honeywell International Inc. now owns 607,765 shares of the company’s stock worth $9,864,000 after buying an additional 62,400 shares during the last quarter. Institutional investors own 43.24% of the company’s stock.
About The Carlyle Group
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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