JPMorgan Chase & Co. Has Lowered Expectations for Carlyle Secured Lending (NASDAQ:CGBD) Stock Price

Carlyle Secured Lending (NASDAQ:CGBD) had its price target lowered by JPMorgan Chase & Co. from $12.00 to $10.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 6.98% from the company’s previous close.

CGBD has been the topic of several other reports. Wall Street Zen raised Carlyle Secured Lending from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. B. Riley Financial raised Carlyle Secured Lending from a “neutral” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Wednesday, February 25th. Citizens Jmp began coverage on Carlyle Secured Lending in a research note on Monday, December 8th. They set a “market perform” rating for the company. Wells Fargo & Company lowered their target price on Carlyle Secured Lending from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Finally, Citigroup assumed coverage on Carlyle Secured Lending in a research report on Monday, December 8th. They issued a “market perform” rating on the stock. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.20.

Carlyle Secured Lending Price Performance

NASDAQ CGBD opened at $10.75 on Friday. Carlyle Secured Lending has a 1 year low of $10.61 and a 1 year high of $17.33. The company has a fifty day simple moving average of $11.98 and a 200 day simple moving average of $12.47. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.31. The company has a market cap of $759.81 million, a P/E ratio of 10.54 and a beta of 0.70.

Carlyle Secured Lending (NASDAQ:CGBD) last announced its earnings results on Tuesday, February 24th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.05). The firm had revenue of $66.91 million during the quarter, compared to the consensus estimate of $67.26 million. Carlyle Secured Lending had a return on equity of 8.56% and a net margin of 27.38%. On average, sell-side analysts predict that Carlyle Secured Lending will post 1.97 EPS for the current year.

Insider Buying and Selling at Carlyle Secured Lending

In related news, Director John G. Nestor sold 4,401 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $11.29, for a total value of $49,687.29. Following the completion of the sale, the director owned 5,516 shares in the company, valued at approximately $62,275.64. This trade represents a 44.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Carlyle Secured Lending

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rossby Financial LCC bought a new stake in shares of Carlyle Secured Lending in the 3rd quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Carlyle Secured Lending by 71.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company’s stock valued at $36,000 after purchasing an additional 1,100 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Carlyle Secured Lending during the third quarter valued at approximately $37,000. Kestra Advisory Services LLC acquired a new position in shares of Carlyle Secured Lending in the fourth quarter valued at $47,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Carlyle Secured Lending by 1,011.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,313 shares of the company’s stock valued at $59,000 after purchasing an additional 3,925 shares in the last quarter. 24.51% of the stock is currently owned by institutional investors.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc (NASDAQ: CGBD) is a closed-end, non-diversified business development company that provides customized debt financing solutions to middle-market companies. Chartered under the Investment Company Act of 1940, the company invests primarily in floating-rate senior secured loans, including first-lien, unitranche and one-stop structures. Its objective is to generate current income and capital appreciation through disciplined credit selection and active portfolio management.

The firm focuses on U.S.