The Carlyle Group (NASDAQ:CG) received a $34.00 target price from equities researchers at Oppenheimer in a report released on Wednesday. The firm currently has a “buy” rating on the financial services provider’s stock. Oppenheimer’s price target suggests a potential upside of 67.74% from the company’s previous close.
Other analysts also recently issued research reports about the company. BidaskClub upgraded The Carlyle Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 7th. Zacks Investment Research upgraded The Carlyle Group from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, July 3rd. Citigroup boosted their price objective on The Carlyle Group from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. Deutsche Bank lowered their price objective on The Carlyle Group from $26.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, October 11th. Finally, Morgan Stanley reduced their target price 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. Two research 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 company presently has an average rating of “Buy” and an average target price of $28.80.
CG stock traded up $0.81 during midday trading on Wednesday, hitting $20.27. The company had a trading volume of 1,694,809 shares, compared to its average volume of 593,920. 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 Carlyle Group has a 52 week low of $18.06 and a 52 week high of $25.90. The company has a market capitalization of $1.94 billion, a P/E ratio of 5.84 and a beta of 1.79.
In other news, major shareholder Carlyle Group Management L.L.C sold 2,250,000 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $111.91, for a total transaction of $251,797,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Hedge funds have recently modified their holdings of the stock. Cornerstone Wealth Management LLC purchased a new stake in The Carlyle Group in the third quarter worth $200,000. Westbourne Investment Advisors Inc. purchased a new stake in The Carlyle Group in the third quarter worth $113,000. Tuttle Tactical Management purchased a new stake in The Carlyle Group in the second quarter worth $107,000. North Star Investment Management Corp. purchased a new stake in The Carlyle Group in the second quarter worth $145,000. Finally, Kendall Capital Management purchased a new stake in The Carlyle Group in the third quarter worth $221,000. 40.45% of the stock is currently owned by 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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