Carlyle Secured Lending (NASDAQ:CGBD) Stock Rating Upgraded by Raymond James Financial

Carlyle Secured Lending (NASDAQ:CGBD) was upgraded by equities research analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday,Finviz reports. The brokerage currently has a $15.00 price target on the stock. Raymond James Financial’s price target would indicate a potential upside of 22.25% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company upgraded Carlyle Secured Lending from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $13.00 to $15.00 in a research report on Friday, July 25th. B. Riley reissued 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. Finally, JPMorgan Chase & Co. raised Carlyle Secured Lending from an “underweight” rating to a “neutral” rating and reduced their price objective for the company from $13.50 to $12.50 in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.83.

Carlyle Secured Lending Stock Performance

Shares of CGBD opened at $12.27 on Tuesday. Carlyle Secured Lending has a 52 week low of $12.21 and a 52 week high of $18.64. The stock has a 50 day moving average price of $13.54 and a two-hundred day moving average price of $14.05. The firm has a market capitalization of $625.24 million, a P/E ratio of 10.23 and a beta of 0.89. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.73 and a current ratio of 0.73.

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

Insider Activity at Carlyle Secured Lending

In related news, CFO Thomas M. Hennigan purchased 7,285 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was acquired at an average price of $13.75 per share, with a total value of $100,168.75. Following the completion of the acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John G. Nestor sold 13,238 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 14,593 shares in the company, valued at approximately $196,859.57. The trade was a 47.57% decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carlyle Secured Lending

Several institutional investors and hedge funds have recently modified their holdings of the stock. Prime Capital Investment Advisors LLC bought a new stake in shares of Carlyle Secured Lending in the second quarter valued at about $30,158,000. Choreo LLC bought a new position in Carlyle Secured Lending in the second quarter worth about $20,529,000. Cliffwater LLC acquired a new position in shares of Carlyle Secured Lending during the second quarter valued at about $7,505,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of Carlyle Secured Lending during the second quarter valued at about $5,717,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Carlyle Secured Lending by 9,270.5% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 219,176 shares of the company’s stock valued at $2,998,000 after acquiring an additional 216,837 shares in the last quarter. Institutional investors own 24.51% of the company’s stock.

About Carlyle Secured Lending

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.