Wells Fargo & Company Raises Carlyle Secured Lending (NASDAQ:CGBD) Price Target to $17.00

Carlyle Secured Lending (NASDAQ:CGBD) had its price objective raised by Wells Fargo & Company from $16.00 to $17.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Separately, JPMorgan Chase & Co. cut Carlyle Secured Lending from a “neutral” rating to an “underweight” rating and set a $17.00 price objective for the company. in a research note on Monday, July 29th.

Carlyle Secured Lending Price Performance

Shares of CGBD opened at $17.16 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.85 and a quick ratio of 1.85. Carlyle Secured Lending has a 1-year low of $13.37 and a 1-year high of $18.74. The stock has a market cap of $871.64 million, a PE ratio of 10.04 and a beta of 1.59. The firm has a fifty day moving average price of $17.15 and a 200 day moving average price of $17.39.

Carlyle Secured Lending (NASDAQ:CGBD) last posted its earnings results on Monday, August 5th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $58.26 million for the quarter, compared to analysts’ expectations of $42.21 million. Carlyle Secured Lending had a return on equity of 12.74% and a net margin of 44.19%. During the same quarter in the previous year, the firm earned $0.52 earnings per share. As a group, sell-side analysts anticipate that Carlyle Secured Lending will post 1.96 EPS for the current year.

Carlyle Secured Lending Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Monday, September 30th were issued a $0.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.96%. Carlyle Secured Lending’s payout ratio is 93.57%.

Hedge Funds Weigh In On Carlyle Secured Lending

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC raised its stake in Carlyle Secured Lending by 1,597.0% during the 3rd quarter. International Assets Investment Management LLC now owns 307,581 shares of the company’s stock valued at $52,200,000 after acquiring an additional 289,456 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Carlyle Secured Lending by 4.6% in the 1st quarter. Advisors Asset Management Inc. now owns 265,325 shares of the company’s stock worth $4,319,000 after buying an additional 11,573 shares in the last quarter. Condor Capital Management grew its position in shares of Carlyle Secured Lending by 16.3% in the second quarter. Condor Capital Management now owns 264,311 shares of the company’s stock valued at $4,689,000 after purchasing an additional 36,984 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Carlyle Secured Lending by 2.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 258,774 shares of the company’s stock worth $4,213,000 after buying an additional 6,527 shares in the last quarter. Finally, Raymond James & Associates increased its position in Carlyle Secured Lending by 3.6% during the 2nd quarter. Raymond James & Associates now owns 126,916 shares of the company’s stock worth $2,251,000 after purchasing an additional 4,459 shares in the last quarter. Hedge funds and other 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.