Carlyle Secured Lending (NASDAQ:CGBD) Given New $12.00 Price Target at JPMorgan Chase & Co.

Carlyle Secured Lending (NASDAQ:CGBD) had its target price cut by JPMorgan Chase & Co. from $12.50 to $12.00 in a research note released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms also recently commented on CGBD. Raymond James Financial upgraded Carlyle Secured Lending from a “market perform” rating to an “outperform” rating and set a $15.00 target price for the company in a research report on Tuesday, October 7th. B. Riley reiterated a “neutral” rating and set a $14.50 price objective (up from $14.00) on shares of Carlyle Secured Lending in a research note on Monday, August 11th. Finally, Wells Fargo & Company reduced their target price on shares of Carlyle Secured Lending from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.58.

Carlyle Secured Lending Price Performance

Shares of NASDAQ:CGBD traded up $0.05 during midday trading on Thursday, reaching $11.98. 428,266 shares of the company’s stock were exchanged, compared to its average volume of 405,378. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 0.90. The company’s 50 day simple moving average is $12.90 and its two-hundred day simple moving average is $13.61. Carlyle Secured Lending has a 12 month low of $11.65 and a 12 month high of $18.64. The firm has a market capitalization of $610.50 million, a PE ratio of 10.15 and a beta of 0.87.

Carlyle Secured Lending (NASDAQ:CGBD) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $66.51 million during the quarter, compared to analyst estimates of $69.61 million. Carlyle Secured Lending had a return on equity of 9.24% and a net margin of 30.18%. Equities research analysts expect that Carlyle Secured Lending will post 1.97 earnings per share for the current fiscal year.

Carlyle Secured Lending Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 13.4%. The ex-dividend date is Wednesday, December 31st. Carlyle Secured Lending’s dividend payout ratio (DPR) is presently 135.59%.

Insider Buying and Selling

In other news, Director John G. Nestor sold 13,238 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $13.49, for a total transaction of $178,580.62. Following the sale, the director directly owned 14,593 shares of the company’s stock, valued at $196,859.57. This represents a 47.57% 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. Also, CFO Thomas M. Hennigan acquired 7,285 shares of Carlyle Secured Lending stock in a transaction on Wednesday, August 20th. The shares were purchased at an average cost of $13.75 per share, for a total transaction of $100,168.75. Following the acquisition, the chief financial officer owned 88,495 shares in the company, valued at approximately $1,216,806.25. This represents a 8.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Carlyle Secured Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Carlyle Secured Lending by 71.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company’s stock valued at $36,000 after purchasing an additional 1,100 shares during the last quarter. Quarry LP bought a new position in Carlyle Secured Lending in the first quarter valued at approximately $32,000. Triumph Capital Management grew its holdings in Carlyle Secured Lending by 5.1% during the 1st quarter. Triumph Capital Management now owns 41,631 shares of the company’s stock worth $674,000 after acquiring an additional 2,038 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of Carlyle Secured Lending by 4.6% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 45,932 shares of the company’s stock valued at $629,000 after acquiring an additional 2,040 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in shares of Carlyle Secured Lending by 18.2% in the 3rd quarter. HB Wealth Management LLC now owns 13,940 shares of the company’s stock valued at $174,000 after purchasing an additional 2,150 shares during the period. 24.51% of the stock is owned by institutional investors.

About Carlyle Secured Lending

Carlyle Secured Lending, Inc is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector.