Carlyle Group (NASDAQ:CG) Stock Price Breaks Above 50 Day Moving Average – Should You Sell?

Carlyle Group Inc. (NASDAQ:CG) passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $41.01 and traded as high as $42.90. Carlyle Group shares last traded at $42.75, with a volume of 6,488,804 shares.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Piper Sandler dropped their price target on Carlyle Group from $54.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Citizens Jmp lifted their price objective on shares of Carlyle Group from $70.00 to $73.00 and gave the company a “market outperform” rating in a research report on Thursday, August 6th. Wells Fargo & Company assumed coverage on shares of Carlyle Group in a report on Friday, October 2nd. They issued an “equal weight” rating and a $43.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on shares of Carlyle Group from $47.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings cut shares of Carlyle Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Carlyle Group has an average rating of “Hold” and a consensus target price of $53.00.

Carlyle Group Trading Up 4.5%

The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 1.91. The stock has a 50 day simple moving average of $41.01 and a 200-day simple moving average of $46.99. The firm has a market cap of $15.23 billion, a P/E ratio of 44.53, a P/E/G ratio of 1.32 and a beta of 1.84.

Carlyle Group (NASDAQ:CG) last posted its earnings results on Tuesday, August 4th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.16. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $923.50 million. Carlyle Group had a return on equity of 22.52% and a net margin of 10.08%. The company’s quarterly revenue was down 28.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 EPS. On average, equities research analysts expect that Carlyle Group Inc. will post 3.53 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Rubenstein sold 400,000 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $42.74, for a total transaction of $17,096,000.00. Following the sale, the director owned 26,899,644 shares of the company’s stock, valued at $1,149,690,784.56. This represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 25.40% of the company’s stock.

Hedge Funds Weigh In On Carlyle Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Beutel Goodman & Co Ltd. raised its position in shares of Carlyle Group by 52.4% during the 3rd quarter. Beutel Goodman & Co Ltd. now owns 1,935,909 shares of the financial services provider’s stock valued at $76,778,000 after buying an additional 665,850 shares in the last quarter. AlphaCore Capital LLC grew its position in Carlyle Group by 21.3% in the third quarter. AlphaCore Capital LLC now owns 6,211 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 1,089 shares in the last quarter. Retirement Systems of Alabama grew its position in Carlyle Group by 1.5% in the third quarter. Retirement Systems of Alabama now owns 271,979 shares of the financial services provider’s stock worth $10,787,000 after acquiring an additional 3,911 shares in the last quarter. Private Management Group Inc. increased its stake in Carlyle Group by 13.1% during the third quarter. Private Management Group Inc. now owns 1,080,057 shares of the financial services provider’s stock worth $42,835,000 after acquiring an additional 125,290 shares during the last quarter. Finally, Fulcrum Asset Management LLP purchased a new stake in Carlyle Group during the third quarter valued at approximately $362,000. 55.88% of the stock is owned by hedge funds and other institutional investors.

Carlyle Group Company Profile

The Carlyle Group Inc is a global investment firm that manages alternative assets for institutional investors, private wealth clients and other investors. The company invests across a range of strategies, including private equity, global credit and investment solutions.

Carlyle’s investment activities include corporate buyouts, growth capital, real estate-related investments, private lending and other credit strategies. Through its investment platforms, the firm provides capital to companies and seeks to support business growth, operational improvement and long-term value creation across a variety of industries.

Founded in 1987, Carlyle is headquartered in Washington, DC, and serves clients and investment opportunities across North America, Europe, Asia-Pacific and other international markets.