Carlyle Secured Lending (NASDAQ:CGBD) Price Target Lowered to $14.00 at Wells Fargo & Company

Carlyle Secured Lending (NASDAQ:CGBD) had its price target decreased by Wells Fargo & Company from $17.00 to $14.00 in a report released on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. decreased their price target on Carlyle Secured Lending from $17.00 to $14.00 and set an “underweight” rating for the company in a research note on Thursday, April 24th. Bank of America lowered Carlyle Secured Lending from a “buy” rating to an “underperform” rating and set a $17.00 price objective on the stock. in a report on Monday, February 10th.

Carlyle Secured Lending Stock Down 1.4 %

Shares of Carlyle Secured Lending stock opened at $14.77 on Monday. The company has a market cap of $752.63 million, a P/E ratio of 8.25 and a beta of 1.22. Carlyle Secured Lending has a 52-week low of $13.12 and a 52-week high of $18.74. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.99. The firm’s 50 day moving average price is $15.89 and its 200-day moving average price is $17.02.

Carlyle Secured Lending Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, March 24th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.83%. Carlyle Secured Lending’s dividend payout ratio (DPR) is 98.77%.

Institutional Investors Weigh In On Carlyle Secured Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGBD. Invesco Ltd. increased its stake in shares of Carlyle Secured Lending by 1,449.1% in the 4th quarter. Invesco Ltd. now owns 659,564 shares of the company’s stock worth $11,826,000 after acquiring an additional 616,988 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of Carlyle Secured Lending in the fourth quarter valued at $4,093,000. Raymond James Financial Inc. purchased a new stake in shares of Carlyle Secured Lending in the 4th quarter valued at $3,223,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Carlyle Secured Lending during the 4th quarter valued at about $2,340,000. Finally, Comerica Bank boosted its holdings in Carlyle Secured Lending by 859.5% during the 4th quarter. Comerica Bank now owns 88,445 shares of the company’s stock valued at $1,586,000 after acquiring an additional 79,227 shares during the period. Institutional investors and hedge funds own 24.51% of the company’s stock.

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.