Carlyle Secured Lending (NASDAQ:CGBD) Upgraded by JPMorgan Chase & Co. to Neutral Rating

JPMorgan Chase & Co. upgraded shares of Carlyle Secured Lending (NASDAQ:CGBD) from an underweight rating to a neutral rating in a report issued on Wednesday morning, MarketBeat.com reports. They currently have $12.50 price objective on the stock, down from their previous price objective of $13.50.

CGBD has been the subject of several other research reports. B. Riley reiterated a “neutral” rating and issued a $14.50 target price (up previously from $14.00) on shares of Carlyle Secured Lending in a research note on Monday, August 11th. Raymond James Financial began coverage on shares of Carlyle Secured Lending in a research note on Thursday, July 17th. They issued a “market perform” rating for the company. Finally, Wells Fargo & Company raised shares of Carlyle Secured Lending from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $13.00 to $15.00 in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.80.

Carlyle Secured Lending Stock Performance

Shares of Carlyle Secured Lending stock opened at $12.41 on Wednesday. Carlyle Secured Lending has a 52 week low of $12.28 and a 52 week high of $18.64. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The business has a 50 day moving average price of $13.63 and a 200-day moving average price of $14.18. The company has a market cap of $632.41 million, a PE ratio of 10.34 and a beta of 0.89.

Carlyle Secured Lending (NASDAQ:CGBD) last announced its earnings results on Tuesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $67.28 million for the quarter, compared to analysts’ expectations of $67.53 million. Carlyle Secured Lending had a return on equity of 9.85% and a net margin of 29.71%. Equities analysts anticipate that Carlyle Secured Lending will post 1.97 earnings per share for the current fiscal year.

Carlyle Secured Lending Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 12.9%. The ex-dividend date is Tuesday, September 30th. Carlyle Secured Lending’s payout ratio is presently 133.33%.

Insider Buying and Selling

In other Carlyle Secured Lending news, Director John G. Nestor sold 13,238 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $13.49, for a total transaction of $178,580.62. Following the completion of the transaction, the director directly owned 14,593 shares of the company’s stock, valued at approximately $196,859.57. This represents a 47.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas M. Hennigan bought 7,285 shares of the stock in a transaction on Wednesday, August 20th. The stock was purchased at an average price of $13.75 per share, for a total transaction of $100,168.75. Following the completion of the purchase, the chief financial officer owned 88,495 shares of the company’s stock, valued at approximately $1,216,806.25. This trade represents a 8.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carlyle Secured Lending

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its stake in shares of Carlyle Secured Lending by 71.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company’s stock worth $36,000 after purchasing an additional 1,100 shares in the last quarter. Sunbelt Securities Inc. grew its stake in Carlyle Secured Lending by 17.1% in the 1st quarter. Sunbelt Securities Inc. now owns 10,297 shares of the company’s stock valued at $167,000 after buying an additional 1,500 shares in the last quarter. Quarry LP purchased a new position in Carlyle Secured Lending in the 1st quarter valued at approximately $32,000. Triumph Capital Management raised its holdings in Carlyle Secured Lending by 5.1% during the 1st quarter. Triumph Capital Management now owns 41,631 shares of the company’s stock valued at $674,000 after acquiring an additional 2,038 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Carlyle Secured Lending by 4.6% during the second quarter. CANADA LIFE ASSURANCE Co now owns 45,932 shares of the company’s stock worth $629,000 after acquiring an additional 2,040 shares in the last quarter. Institutional investors own 24.51% of the company’s stock.

Carlyle Secured Lending Company Profile

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.