Carlyle Secured Lending (NASDAQ:CGBD) Upgraded to “Buy” at B. Riley Financial

Carlyle Secured Lending (NASDAQ:CGBD) was upgraded by research analysts at B. Riley Financial from a “neutral” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $13.00 target price on the stock. B. Riley Financial’s target price would suggest a potential upside of 15.93% from the company’s current price.

Several other research firms also recently commented on CGBD. JPMorgan Chase & Co. lowered their target price on shares of Carlyle Secured Lending from $12.50 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Wall Street Zen upgraded shares of Carlyle Secured Lending from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. Citizens Jmp started coverage on shares of Carlyle Secured Lending in a report on Monday, December 8th. They set a “market perform” rating for the company. Zacks Research upgraded Carlyle Secured Lending from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Wells Fargo & Company decreased their target price on Carlyle Secured Lending from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.80.

Carlyle Secured Lending Price Performance

Shares of NASDAQ:CGBD traded down $0.24 during trading on Wednesday, hitting $11.21. 905,414 shares of the company’s stock were exchanged, compared to its average volume of 553,998. The business’s 50-day simple moving average is $12.37 and its 200 day simple moving average is $12.71. The company has a market cap of $571.47 million, a price-to-earnings ratio of 9.50 and a beta of 0.70. Carlyle Secured Lending has a 52-week low of $10.87 and a 52-week high of $18.40. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.90 and a quick ratio of 0.90.

Carlyle Secured Lending (NASDAQ:CGBD) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). Carlyle Secured Lending had a return on equity of 9.24% and a net margin of 30.18%.The business had revenue of $66.91 million during the quarter, compared to analysts’ expectations of $67.26 million. As a group, equities analysts predict that Carlyle Secured Lending will post 1.97 EPS for the current year.

Institutional Trading of Carlyle Secured Lending

A number of institutional investors have recently bought and sold shares of the stock. Choreo LLC purchased a new position in Carlyle Secured Lending during the second quarter worth $20,529,000. Rivernorth Capital Management LLC lifted its holdings in shares of Carlyle Secured Lending by 58.2% in the 4th quarter. Rivernorth Capital Management LLC now owns 1,900,728 shares of the company’s stock worth $23,740,000 after acquiring an additional 699,586 shares during the last quarter. Cliffwater LLC bought a new stake in shares of Carlyle Secured Lending in the 2nd quarter worth about $7,505,000. Toronto Dominion Bank purchased a new position in shares of Carlyle Secured Lending during the 4th quarter worth about $6,245,000. Finally, Two Sigma Investments LP grew its holdings in Carlyle Secured Lending by 199.4% during the 3rd quarter. Two Sigma Investments LP now owns 727,570 shares of the company’s stock valued at $9,095,000 after purchasing an additional 484,581 shares during the last quarter. 24.51% of the stock is currently owned by institutional investors.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc (NASDAQ: CGBD) is a closed-end, non-diversified business development company that provides customized debt financing solutions to middle-market companies. Chartered under the Investment Company Act of 1940, the company invests primarily in floating-rate senior secured loans, including first-lien, unitranche and one-stop structures. Its objective is to generate current income and capital appreciation through disciplined credit selection and active portfolio management.

The firm focuses on U.S.