Carlyle Secured Lending (NASDAQ:CGBD) Downgraded to Strong Sell Rating by Zacks Research

Carlyle Secured Lending (NASDAQ:CGBD) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also weighed in on CGBD. JPMorgan Chase & Co. decreased their price objective on shares of Carlyle Secured Lending from $12.50 to $12.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. B. Riley dropped their price target on Carlyle Secured Lending from $14.50 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday. Wells Fargo & Company lowered their target price on shares of Carlyle Secured Lending from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Finally, Raymond James Financial upgraded shares of Carlyle Secured Lending from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.33.

Carlyle Secured Lending Stock Up 1.6%

Shares of NASDAQ CGBD opened at $12.06 on Monday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.90 and a current ratio of 0.90. Carlyle Secured Lending has a 1 year low of $11.65 and a 1 year high of $18.64. The stock’s 50-day simple moving average is $12.78 and its 200-day simple moving average is $13.55. The firm has a market cap of $614.58 million, a price-to-earnings ratio of 10.22 and a beta of 0.87.

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

Insider Activity at Carlyle Secured Lending

In related news, Director John G. Nestor sold 13,238 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $13.49, for a total value of $178,580.62. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas M. Hennigan purchased 7,285 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average cost of $13.75 per share, with a total value of $100,168.75. Following the purchase, the chief financial officer owned 88,495 shares of the company’s stock, valued at approximately $1,216,806.25. This represents a 8.97% increase in their position. The SEC filing for this purchase provides additional information. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carlyle Secured Lending

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Prime Capital Investment Advisors LLC bought a new stake in shares of Carlyle Secured Lending during the 2nd quarter worth about $30,158,000. Choreo LLC bought a new position in Carlyle Secured Lending during the 2nd quarter valued at $20,529,000. Cliffwater LLC acquired a new position in shares of Carlyle Secured Lending during the 2nd quarter valued at $7,505,000. North Ground Capital acquired a new stake in shares of Carlyle Secured Lending in the third quarter valued at $5,952,000. Finally, Kingstone Capital Partners Texas LLC bought a new position in Carlyle Secured Lending during the second quarter valued at about $5,717,000. Institutional investors 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.