The Carlyle Group (NASDAQ:CG) Trading Down 6.6% – What’s Next?

The Carlyle Group Inc. (NASDAQ:CG)’s share price was down 6.6% during trading on Thursday . The stock traded as low as $50.40 and last traded at $50.63. Approximately 1,428,229 shares were traded during trading, a decline of 38% from the average daily volume of 2,310,704 shares. The stock had previously closed at $54.23.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price target on shares of The Carlyle Group in a report on Wednesday, October 9th. Evercore ISI upped their target price on shares of The Carlyle Group from $45.00 to $47.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods dropped their price target on The Carlyle Group from $48.00 to $46.00 and set a “market perform” rating for the company in a research note on Tuesday, August 6th. Oppenheimer boosted their target price on The Carlyle Group from $64.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price objective on The Carlyle Group from $42.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $51.33.

The Carlyle Group Trading Down 3.5 %

The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.75. The stock’s fifty day moving average price is $45.13 and its 200 day moving average price is $43.35.

The Carlyle Group (NASDAQ:CG) last released its earnings results on Monday, August 5th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The Carlyle Group had a negative net margin of 11.67% and a positive return on equity of 24.30%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $808.73 million. During the same quarter in the previous year, the business posted $0.88 earnings per share. The Carlyle Group’s revenue for the quarter was up 131.5% on a year-over-year basis. As a group, analysts expect that The Carlyle Group Inc. will post 3.71 earnings per share for the current year.

Insider Transactions at The Carlyle Group

In other news, major shareholder Carlyle Group Inc. sold 275,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $2.20, for a total value of $605,000.00. Following the transaction, the insider now owns 2,405,461 shares in the company, valued at approximately $5,292,014.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 1,676,014 shares of company stock valued at $3,687,196. Insiders own 27.20% of the company’s stock.

Institutional Investors Weigh In On The Carlyle Group

Several large investors have recently bought and sold shares of CG. Westbourne Investment Advisors Inc. boosted its stake in shares of The Carlyle Group by 3.6% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 5,700 shares of the financial services provider’s stock worth $245,000 after buying an additional 200 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of The Carlyle Group by 0.5% during the 3rd quarter. Bleakley Financial Group LLC now owns 41,742 shares of the financial services provider’s stock valued at $1,797,000 after purchasing an additional 208 shares during the period. Tobam lifted its stake in shares of The Carlyle Group by 32.8% in the 3rd quarter. Tobam now owns 890 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 220 shares during the period. Retirement Planning Co of New England Inc. boosted its holdings in shares of The Carlyle Group by 2.5% in the first quarter. Retirement Planning Co of New England Inc. now owns 11,314 shares of the financial services provider’s stock worth $531,000 after buying an additional 271 shares during the last quarter. Finally, Western Pacific Wealth Management LP increased its holdings in The Carlyle Group by 14.7% during the first quarter. Western Pacific Wealth Management LP now owns 2,447 shares of the financial services provider’s stock valued at $115,000 after buying an additional 313 shares during the last quarter. 55.88% of the stock is currently owned by institutional investors.

About The Carlyle Group

The Carlyle Group Inc 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.