Zacks Investment Research Upgrades Carlyle Secured Lending (NASDAQ:CGBD) to “Buy”

Carlyle Secured Lending (NASDAQ:CGBD – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, Zacks.com reports. The brokerage presently has a $17.00 price target on the stock. Zacks Investment Research‘s price target indicates a potential upside of 14.94% from the stock’s previous close.

According to Zacks, “TCG BDC, Inc. is an externally managed specialty finance company. It focused on providing flexible financing solutions to middle market companies primarily located in the United States. TCG BDC, Inc. is based in New York, United States. “

CGBD stock opened at $14.79 on Thursday. Carlyle Secured Lending has a twelve month low of $12.76 and a twelve month high of $14.96. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 1.16. The stock’s 50 day moving average is $14.43 and its 200-day moving average is $14.12. The firm has a market capitalization of $781.53 million, a PE ratio of 5.62 and a beta of 1.76.

Carlyle Secured Lending (NASDAQ:CGBD – Get Rating) last issued its quarterly earnings results on Tuesday, February 22nd. The company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The business had revenue of $36.69 million for the quarter, compared to analyst estimates of $36.38 million. Carlyle Secured Lending had a return on equity of 10.41% and a net margin of 87.20%. On average, equities research analysts anticipate that Carlyle Secured Lending will post 1.61 earnings per share for the current fiscal year.

In other news, CFO Thomas M. Hennigan acquired 3,260 shares of the business’s stock in a transaction dated Friday, February 25th. The stock was purchased at an average cost of $14.04 per share, for a total transaction of $45,770.40. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new position in Carlyle Secured Lending during the 4th quarter valued at approximately $55,000. Wells Fargo & Company MN grew its holdings in shares of Carlyle Secured Lending by 52.6% during the 4th quarter. Wells Fargo & Company MN now owns 7,590 shares of the company’s stock worth $104,000 after acquiring an additional 2,617 shares during the period. S.C. Financial Services Inc. purchased a new position in shares of Carlyle Secured Lending during the 4th quarter worth approximately $143,000. First Republic Investment Management Inc. purchased a new position in shares of Carlyle Secured Lending during the 3rd quarter worth approximately $149,000. Finally, Welch & Forbes LLC purchased a new position in shares of Carlyle Secured Lending during the 1st quarter worth approximately $174,000. 23.19% of the stock is owned by institutional investors.

Carlyle Secured Lending Company Profile (Get Rating)

TCG BDC, 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.

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