The Carlyle Group (NASDAQ:CG) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of The Carlyle Group (NASDAQ:CG) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “The Carlyle Group Inc. is an investment firm. The Company manages an investment vehicle segment which includes corporate private equity, real assets, global credit and investment solutions. The Carlyle Group Inc. is based in Washington, United States. “

CG has been the subject of several other reports. Morgan Stanley increased their price target on The Carlyle Group from $30.00 to $31.00 and gave the stock an equal weight rating in a report on Monday, November 2nd. BidaskClub upgraded The Carlyle Group from a hold rating to a buy rating in a report on Friday, December 18th. Credit Suisse Group increased their price objective on The Carlyle Group from $31.00 to $33.00 and gave the stock a neutral rating in a report on Tuesday, November 3rd. Citigroup upgraded The Carlyle Group from a neutral rating to a buy rating and set a $31.00 price objective for the company in a report on Monday, October 12th. Finally, Bank of America upgraded The Carlyle Group from an underperform rating to a buy rating and increased their price objective for the stock from $30.00 to $35.00 in a report on Friday, November 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $29.31.

Shares of The Carlyle Group stock opened at $31.44 on Wednesday. The Carlyle Group has a 1 year low of $15.21 and a 1 year high of $34.98. The business has a 50-day moving average of $29.51 and a two-hundred day moving average of $27.66. The company has a market capitalization of $11.11 billion, a P/E ratio of -51.54 and a beta of 1.40. The company has a debt-to-equity ratio of 2.98, a current ratio of 2.37 and a quick ratio of 2.37.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings results on Thursday, October 29th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. The Carlyle Group had a positive return on equity of 25.90% and a negative net margin of 5.38%. The company had revenue of $496.50 million during the quarter, compared to the consensus estimate of $489.84 million. During the same period in the prior year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, equities analysts anticipate that The Carlyle Group will post 1.81 EPS for the current fiscal year.

In other news, insider David M. Rubenstein sold 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 10th. The stock was sold at an average price of $29.05, for a total value of $21,787,500.00. Following the completion of the sale, the insider now directly owns 42,249,644 shares of the company’s stock, valued at $1,227,352,158.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder David M. Rubenstein sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 24th. The shares were sold at an average price of $27.30, for a total value of $54,600,000.00. The disclosure for this sale can be found here.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CG. Vanguard Group Inc. acquired a new stake in shares of The Carlyle Group in the second quarter valued at approximately $404,666,000. Morgan Stanley lifted its holdings in The Carlyle Group by 20.8% during the 3rd quarter. Morgan Stanley now owns 9,974,601 shares of the financial services provider’s stock worth $246,072,000 after purchasing an additional 1,716,749 shares during the last quarter. Alkeon Capital Management LLC lifted its holdings in The Carlyle Group by 44.8% during the 3rd quarter. Alkeon Capital Management LLC now owns 5,444,025 shares of the financial services provider’s stock worth $134,304,000 after purchasing an additional 1,685,000 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in The Carlyle Group during the 2nd quarter worth approximately $14,010,000. Finally, Bank of New York Mellon Corp acquired a new stake in The Carlyle Group during the 2nd quarter worth approximately $10,065,000. 29.10% of the stock is owned by institutional investors.

The Carlyle Group Company Profile

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.

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