Short Interest in The Carlyle Group Inc. (NASDAQ:CG) Drops By 18.8%
The Carlyle Group Inc. (NASDAQ:CG – Get Free Report) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 13,700,000 shares, a drop of 18.8% from the October 31st total of 16,870,000 shares. Approximately 7.2% of the company’s stock are sold short. Based on an average trading volume of 2,180,000 shares, the days-to-cover ratio is currently 6.3 days.
The Carlyle Group Price Performance
NASDAQ CG traded up $0.79 during mid-day trading on Friday, hitting $35.07. The stock had a trading volume of 2,375,111 shares, compared to its average volume of 2,994,995. The Carlyle Group has a 52-week low of $25.20 and a 52-week high of $38.32. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 59.86, a P/E/G ratio of 9.07 and a beta of 1.71. The company has a 50 day simple moving average of $30.12 and a 200 day simple moving average of $30.87. The company has a quick ratio of 2.92, a current ratio of 2.94 and a debt-to-equity ratio of 1.34.
The Carlyle Group (NASDAQ:CG – Get Free Report) last announced its earnings results on Tuesday, November 7th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.15. The business had revenue of $776.60 million for the quarter, compared to analyst estimates of $835.81 million. The Carlyle Group had a return on equity of 19.43% and a net margin of 7.65%. The company’s revenue for the quarter was down 44.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.42 earnings per share. Equities analysts forecast that The Carlyle Group will post 3.12 EPS for the current fiscal year.
The Carlyle Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Shareholders of record on Tuesday, November 21st were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, November 20th. This represents a $1.40 annualized dividend and a dividend yield of 3.99%. The Carlyle Group’s dividend payout ratio is currently 241.38%.
Insiders Place Their Bets
In other The Carlyle Group news, major shareholder Subsidiary Holdings L.L.C. Cg acquired 1,269,537 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was acquired at an average cost of $8.52 per share, for a total transaction of $10,816,455.24. Following the completion of the transaction, the insider now directly owns 4,785,628 shares of the company’s stock, valued at $40,773,550.56. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 27.00% of the company’s stock.
Institutional Trading of The Carlyle Group
Several large investors have recently added to or reduced their stakes in CG. Bank of New York Mellon Corp raised its stake in The Carlyle Group by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 586,876 shares of the financial services provider’s stock valued at $28,704,000 after purchasing an additional 20,136 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of The Carlyle Group by 7.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,786 shares of the financial services provider’s stock valued at $381,000 after buying an additional 531 shares during the period. Cetera Advisor Networks LLC acquired a new stake in shares of The Carlyle Group during the first quarter worth approximately $200,000. MetLife Investment Management LLC acquired a new stake in shares of The Carlyle Group in the first quarter valued at approximately $159,000. Finally, BlackRock Inc. increased its holdings in shares of The Carlyle Group by 7.2% in the first quarter. BlackRock Inc. now owns 15,257,115 shares of the financial services provider’s stock valued at $746,227,000 after purchasing an additional 1,020,504 shares in the last quarter. 55.88% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on CG shares. Evercore ISI lowered The Carlyle Group from an “outperform” rating to an “in-line” rating and set a $32.00 price objective on the stock. in a research note on Wednesday. Morgan Stanley decreased their price target on The Carlyle Group from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 18th. Piper Sandler decreased their price target on The Carlyle Group from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, August 3rd. Bank of America cut their price target on The Carlyle Group from $31.00 to $30.00 in a report on Friday, October 6th. Finally, Barclays upped their price target on The Carlyle Group from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $38.87.
Check Out Our Latest Stock Analysis on The Carlyle Group
The Carlyle Group Company Profile (Get Free Report)
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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Original: MarketBeat News Feed: Short Interest in The Carlyle Group Inc. (NASDAQ:CG) Drops By 18.8%