Zacks Research Upgrades Carlyle Secured Lending (NASDAQ:CGBD) to Strong-Buy

Carlyle Secured Lending (NASDAQ:CGBD) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

Separately, Wells Fargo & Company restated an “equal weight” rating and set a $11.00 price objective (down from $12.00) on shares of Carlyle Secured Lending in a report on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.33.

Carlyle Secured Lending Price Performance

Shares of NASDAQ:CGBD opened at $10.48 on Monday. The company has a market capitalization of $721.13 million, a P/E ratio of 20.55 and a beta of 0.66. The company’s 50-day moving average is $11.19 and its 200 day moving average is $11.01. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.79 and a current ratio of 0.79. Carlyle Secured Lending has a fifty-two week low of $9.94 and a fifty-two week high of $13.28.

Hedge Funds Weigh In On Carlyle Secured Lending

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP purchased a new position in shares of Carlyle Secured Lending during the second quarter worth approximately $27,000. Burk Holdings LLC bought a new stake in shares of Carlyle Secured Lending in the 2nd quarter worth approximately $37,000. Entropy Technologies LP boosted its stake in shares of Carlyle Secured Lending by 37.4% in the 1st quarter. Entropy Technologies LP now owns 18,913 shares of the company’s stock valued at $207,000 after purchasing an additional 5,146 shares in the last quarter. Beaumont Financial Advisors LLC purchased a new stake in shares of Carlyle Secured Lending in the 1st quarter valued at $110,000. Finally, Novare Capital Management LLC boosted its stake in shares of Carlyle Secured Lending by 4.3% in the 1st quarter. Novare Capital Management LLC now owns 251,395 shares of the company’s stock valued at $2,750,000 after purchasing an additional 10,345 shares in the last quarter. Institutional investors own 24.51% of the company’s stock.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc (NASDAQ: CGBD) is a business development company that provides financing to middle-market companies, primarily in the United States. The company is externally managed by Carlyle GMS Investment Management LLC, an affiliate of global investment firm The Carlyle Group.

Carlyle Secured Lending invests primarily in senior secured loans, including first-lien and unitranche loans, and may also invest in second-lien debt and equity securities. Its portfolio companies generally operate across a range of industries and are typically privately owned businesses that require capital for acquisitions, growth initiatives, recapitalizations, refinancing and other corporate purposes.

The company traces its origins to TCG BDC, Inc, which began operations in 2012 and later adopted the Carlyle Secured Lending name.