The Carlyle Group Inc. (NASDAQ:CG) Sees Significant Decline in Short Interest

The Carlyle Group Inc. (NASDAQ:CG) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 15,610,000 shares, a decline of 8.4% from the September 30th total of 17,040,000 shares. Based on an average daily trading volume, of 2,570,000 shares, the days-to-cover ratio is presently 6.1 days. Currently, 7.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several analysts have weighed in on CG shares. Barclays boosted their price objective on The Carlyle Group from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 price target on shares of The Carlyle Group in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods decreased their price objective on The Carlyle Group from $48.00 to $46.00 and set a “market perform” rating for the company in a report on Tuesday, August 6th. JPMorgan Chase & Co. increased their price objective on The Carlyle Group from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Redburn Atlantic started coverage on The Carlyle Group in a report on Tuesday, August 27th. They issued a “buy” rating and a $55.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, The Carlyle Group presently has an average rating of “Hold” and an average target price of $51.33.

The Carlyle Group Price Performance

NASDAQ CG opened at $50.03 on Friday. The Carlyle Group has a one year low of $27.13 and a one year high of $52.73. The stock has a 50-day moving average of $44.08 and a 200 day moving average of $43.14. The company has a market capitalization of $17.83 billion, a price-to-earnings ratio of -44.67, a PEG ratio of 1.25 and a beta of 1.73. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.55 and a current ratio of 2.55.

The Carlyle Group (NASDAQ:CG) last released its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $808.73 million. The Carlyle Group had a positive return on equity of 24.30% and a negative net margin of 11.67%. The Carlyle Group’s quarterly revenue was up 131.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 earnings per share. On average, sell-side analysts forecast that The Carlyle Group will post 3.76 EPS for the current year.

Insider Buying and Selling

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 275,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $2.20, for a total value of $605,000.00. Following the completion of the sale, the insider now owns 2,405,461 shares in the company, valued at approximately $5,292,014.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 1,872,366 shares of company stock worth $11,580,308 in the last quarter. 27.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CG. Tobam purchased a new position in The Carlyle Group in the second quarter worth about $27,000. Blue Trust Inc. lifted its position in shares of The Carlyle Group by 506.3% during the 2nd quarter. Blue Trust Inc. now owns 770 shares of the financial services provider’s stock valued at $31,000 after buying an additional 643 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of The Carlyle Group during the 2nd quarter valued at about $50,000. 1832 Asset Management L.P. purchased a new position in shares of The Carlyle Group during the 1st quarter valued at about $55,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of The Carlyle Group by 1,600.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,700 shares of the financial services provider’s stock valued at $73,000 after buying an additional 1,600 shares in the last quarter. 55.88% of the stock is owned by hedge funds and other 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.