Carlyle Secured Lending (NASDAQ:CGBD) Rating Increased to Outperform at Raymond James Financial

Raymond James Financial upgraded shares of Carlyle Secured Lending (NASDAQ:CGBD) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday morning, Marketbeat.com reports. The brokerage currently has $15.00 target price on the stock.

Several other research firms have also recently commented on CGBD. Wells Fargo & Company raised Carlyle Secured Lending from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $13.00 to $15.00 in a research report on Friday, July 25th. B. Riley reaffirmed a “neutral” rating and set a $14.50 price objective (up from $14.00) on shares of Carlyle Secured Lending in a research report on Monday, August 11th. Finally, JPMorgan Chase & Co. raised Carlyle Secured Lending from an “underweight” rating to a “neutral” rating and dropped their price objective for the company from $13.50 to $12.50 in a research report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $14.83.

Carlyle Secured Lending Trading Down 1.1%

Carlyle Secured Lending stock opened at $12.14 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.73. Carlyle Secured Lending has a one year low of $12.07 and a one year high of $18.64. The stock has a market capitalization of $618.65 million, a PE ratio of 10.12 and a beta of 0.89. The business’s fifty day moving average is $13.50 and its 200 day moving average is $14.03.

Carlyle Secured Lending (NASDAQ:CGBD) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. Carlyle Secured Lending had a return on equity of 9.85% and a net margin of 29.71%.The company had revenue of $67.28 million for the quarter, compared to analysts’ expectations of $67.53 million. On average, sell-side analysts predict that Carlyle Secured Lending will post 1.97 EPS for the current year.

Carlyle Secured Lending Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 13.2%. The ex-dividend date of this dividend is Tuesday, September 30th. Carlyle Secured Lending’s dividend payout ratio (DPR) is presently 133.33%.

Insider Activity

In other Carlyle Secured Lending news, Director John G. Nestor sold 13,238 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $13.49, for a total value of $178,580.62. Following the transaction, the director directly owned 14,593 shares of the company’s stock, valued at approximately $196,859.57. This trade represents a 47.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas M. Hennigan acquired 7,285 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was bought at an average cost of $13.75 per share, for a total transaction of $100,168.75. Following the purchase, the chief financial officer directly 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. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Round Rock Advisors LLC raised its stake in shares of Carlyle Secured Lending by 146.6% in the first quarter. Round Rock Advisors LLC now owns 45,800 shares of the company’s stock worth $741,000 after buying an additional 27,230 shares during the period. Prime Capital Investment Advisors LLC bought a new position in shares of Carlyle Secured Lending in the second quarter worth about $30,158,000. LPL Financial LLC raised its stake in shares of Carlyle Secured Lending by 33.2% in the first quarter. LPL Financial LLC now owns 82,458 shares of the company’s stock worth $1,334,000 after buying an additional 20,549 shares during the period. Ieq Capital LLC bought a new position in shares of Carlyle Secured Lending in the first quarter worth about $585,000. Finally, Mackenzie Financial Corp bought a new position in shares of Carlyle Secured Lending in the first quarter worth about $406,000. 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.