Carlyle Secured Lending (NASDAQ:CGBD) Raised to “Strong-Buy” at Zacks Research

Carlyle Secured Lending (NASDAQ:CGBD) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

Separately, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $11.00 price objective (down from $12.00) on shares of Carlyle Secured Lending in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.33.

Carlyle Secured Lending Stock Performance

Shares of CGBD stock opened at $10.48 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.20. Carlyle Secured Lending has a 52 week low of $9.94 and a 52 week high of $13.28. The stock has a market capitalization of $721.13 million, a PE ratio of 20.55 and a beta of 0.66. The firm has a 50 day moving average of $11.19 and a two-hundred day moving average of $11.01.

Institutional Trading of Carlyle Secured Lending

Large investors have recently made changes to their positions in the company. North Ground Capital acquired a new position in Carlyle Secured Lending during the 2nd quarter worth approximately $6,486,480. BlackRock Inc. purchased a new stake in shares of Carlyle Secured Lending in the 2nd quarter valued at approximately $2,915,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Carlyle Secured Lending in the 1st quarter valued at $1,657,000. Legal & General Group Plc acquired a new stake in shares of Carlyle Secured Lending in the 2nd quarter valued at $6,090,000. Finally, Bank of America Corp DE acquired a new stake in shares of Carlyle Secured Lending in the 2nd quarter valued at $2,953,000. 24.51% of the stock is currently owned by hedge funds and other institutional investors.

About Carlyle Secured Lending

Carlyle Secured Lending, Inc (NASDAQ: CGBD) is a business development company that provides financing to middle-market companies, primarily in the United States. The company is externally managed by Carlyle GMS Investment Management LLC, an affiliate of global investment firm The Carlyle Group.

Carlyle Secured Lending invests primarily in senior secured loans, including first-lien and unitranche loans, and may also invest in second-lien debt and equity securities. Its portfolio companies generally operate across a range of industries and are typically privately owned businesses that require capital for acquisitions, growth initiatives, recapitalizations, refinancing and other corporate purposes.

The company traces its origins to TCG BDC, Inc, which began operations in 2012 and later adopted the Carlyle Secured Lending name.