Carlyle Secured Lending (NASDAQ:CGBD) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Carlyle Secured Lending (NASDAQ:CGBD) from a hold rating to a strong sell rating in a research report report published on Monday morning,Zacks.com reports.

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

Carlyle Secured Lending Stock Up 0.7%

Shares of NASDAQ CGBD opened at $12.14 on Monday. The stock has a fifty day moving average price of $12.74 and a 200 day moving average price of $13.54. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.10. Carlyle Secured Lending has a 12-month low of $11.65 and a 12-month high of $18.64. The company has a market cap of $618.65 million, a P/E ratio of 10.29 and a beta of 0.87.

Carlyle Secured Lending (NASDAQ:CGBD) last announced its earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate 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. Research analysts anticipate that Carlyle Secured Lending will post 1.97 EPS for the current fiscal year.

Carlyle Secured Lending Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date is Wednesday, December 31st. Carlyle Secured Lending’s dividend payout ratio (DPR) is currently 135.59%.

Insider Buying and Selling

In other news, CFO Thomas M. Hennigan acquired 7,285 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were bought at an average price 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John G. Nestor sold 13,238 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $13.49, for a total value of $178,580.62. Following the completion of the sale, the director owned 14,593 shares of the company’s stock, valued at approximately $196,859.57. This trade represents a 47.57% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Carlyle Secured Lending

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in Carlyle Secured Lending by 71.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company’s stock valued at $36,000 after acquiring an additional 1,100 shares during the last quarter. Rossby Financial LCC acquired a new position in shares of Carlyle Secured Lending in the 3rd quarter worth approximately $25,000. Quarry LP bought a new stake in shares of Carlyle Secured Lending in the 1st quarter worth approximately $32,000. Triumph Capital Management lifted its stake in Carlyle Secured Lending by 5.1% during the first quarter. Triumph Capital Management now owns 41,631 shares of the company’s stock valued at $674,000 after purchasing an additional 2,038 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Carlyle Secured Lending by 4.6% during the second quarter. CANADA LIFE ASSURANCE Co now owns 45,932 shares of the company’s stock valued at $629,000 after purchasing an additional 2,040 shares during the last quarter. 24.51% of the stock is currently owned by institutional investors.

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.