Short Interest in The Carlyle Group Inc. (NASDAQ:CG) Rises By 17.7% (2024)

Posted by Irma Garcia on Jun 2nd, 2024

The Carlyle Group Inc. (NASDAQ:CG – Get Free Report) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totalling 19,120,000 shares, an increase of 17.7% from the April 30th total of 16,240,000 shares. Based on an average daily volume of 2,140,000 shares, the days-to-cover ratio is currently 8.9 days. Approximately 9.6% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System bought a new stake in The Carlyle Group during the fourth quarter worth $1,349,000. Principal Financial Group Inc. raised its stake in The Carlyle Group by 4,693.0% during the fourth quarter. Principal Financial Group Inc. now owns 794,438 shares of the financial services provider’s stock worth $32,326,000 after acquiring an additional 777,863 shares in the last quarter. Mutual of America Capital Management LLC bought a new position in shares of The Carlyle Group in the fourth quarter worth about $5,410,000. SG Americas Securities LLC grew its holdings in shares of The Carlyle Group by 347.1% during the 4th quarter. SG Americas Securities LLC now owns 111,957 shares of the financial services provider’s stock valued at $4,556,000 after purchasing an additional 86,914 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in The Carlyle Group by 40.5% during the 4th quarter. Victory Capital Management Inc. now owns 448,938 shares of the financial services provider’s stock worth $18,267,000 after purchasing an additional 129,390 shares in the last quarter. Institutional investors and hedge funds own 55.88% of the company’s stock.

The Carlyle Group Price Performance

Shares of CG stock traded up $0.35 on Friday, hitting $42.96. The company’s stock had a trading volume of 3,445,648 shares, compared to its average volume of 1,782,590. The Carlyle Group has a fifty-two week low of $27.13 and a fifty-two week high of $48.52. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 1.53. The stock’s 50 day moving average is $44.56 and its 200-day moving average is $42.08.

The Carlyle Group (NASDAQ:CG – Get Free Report) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.92 by $0.09. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $986.10 million. The Carlyle Group had a negative net margin of 23.04% and a positive return on equity of 23.92%. The business’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. As a group, sell-side analysts forecast that The Carlyle Group will post 3.9 earnings per share for the current fiscal year.

The Carlyle Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 14th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Monday, May 13th. The Carlyle Group’s dividend payout ratio (DPR) is currently -78.21%.

Wall Street Analysts Forecast Growth

CG has been the topic of a number of recent research reports. Citigroup lifted their target price on The Carlyle Group from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. JMP Securities boosted their target price on shares of The Carlyle Group from $52.00 to $58.00 and gave the stock a “market outperform” rating in a report on Thursday, February 8th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $48.00 price target (down previously from $50.00) on shares of The Carlyle Group in a research note on Thursday, May 2nd. TD Cowen dropped their target price on shares of The Carlyle Group from $49.00 to $45.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Finally, TheStreet downgraded The Carlyle Group from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, The Carlyle Group presently has an average rating of “Hold” and a consensus price target of $45.60.

Check Out Our Latest Report on CG

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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