STOCK NOW Here’s Why Carlyle Group Stock (NASDAQ:CG) Jumped Yesterday

Here’s Why Carlyle Group Stock (NASDAQ:CG) Jumped Yesterday

-

- Advertisment -

Shares of Carlyle Group (NASDAQ:CG) jumped over 6% in extended trading yesterday on news of inclusion in the S&P MidCap 400 index. Inclusion in the index implies increased liquidity and visibility for CG, along with the potential for greater inflows from passive investment funds that track the index. Carlyle Group will replace ICU Medical (NASDAQ:ICUI) in the S&P 400 index. CG has a market capitalization of $11.84 billion. The changes will be effective starting Thursday, November 30.

The S&P 400 MidCap Index is a benchmark index comprising 400 mid-size companies. The index reflects the distinctive risk and return characteristics of this mid-sized market capitalization segment.

Carlyle Group is an alternative asset management company that specializes in private equity, real assets, and private credit. Hailed as one of the largest funds in the world, CG currently boasts $382 billion in assets under management (AUM). CG stock has gained 14.4% so far this year.

Is Carlyle Group a Good Stock to Buy?

Wall Street is cautiously optimistic about CG stock. On TipRanks, the stock has a Moderate Buy consensus rating based on five Buys, six Holds, and one Sell. Also, the average Carlyle Group price target of $38 implies 15.8% upside potential from current levels.

Disclosure

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Kim Kardashian wears sexy knitted black dress as she joins Hollywood stars Cher, Tom Brady and Sylvester Stallone at grand opening of the new...

Kim Kardashian made a low-key arrival at the launch of the launch of Fontainebleau Las Vegas — the newest upscale resort in...

Nifty Today | Share Market Live Updates: Sensex surges 850 pts; Nifty tops 21,400; TCS, Infy, HCL Tech lead

Nifty Today | Share Market Live Updates: India's key stock indices are seeing strong gains, hitting new...

Popularity is still on the rise for the only two Paralympic exclusive sports

One sport is hundreds, possibly thousands, of years old while the other is a relative newcomer. Nevertheless, they do have...
- Advertisement -

In South Korea, more young people say marriage ‘not necessary’ as nation’s birth rates plummet

“I don’t like either scenario. I will make a living for myself and myself alone is enough,” he said.Children...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you