Carlyle Secured Lending (NASDAQ:CGBD) Price Target Cut to $13.00 by Analysts at B. Riley

Carlyle Secured Lending (NASDAQ:CGBD) had its price objective dropped by equities research analysts at B. Riley from $14.50 to $13.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. B. Riley’s target price would indicate a potential upside of 7.39% from the company’s current price.

CGBD has been the topic of several other research reports. Wells Fargo & Company reduced their price objective on shares of Carlyle Secured Lending from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. JPMorgan Chase & Co. cut their target price on shares of Carlyle Secured Lending from $12.50 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Finally, Raymond James Financial upgraded shares of Carlyle Secured Lending from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.33.

Carlyle Secured Lending Price Performance

Carlyle Secured Lending stock traded up $0.24 during mid-day trading on Tuesday, hitting $12.11. The stock had a trading volume of 225,997 shares, compared to its average volume of 405,604. Carlyle Secured Lending has a one year low of $11.65 and a one year high of $18.64. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $616.87 million, a P/E ratio of 10.26 and a beta of 0.87. The firm’s 50 day moving average is $12.81 and its 200 day moving average is $13.56.

Carlyle Secured Lending (NASDAQ:CGBD) last released its earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). Carlyle Secured Lending had a return on equity of 9.24% and a net margin of 30.18%.The business had revenue of $66.51 million for the quarter, compared to analysts’ expectations of $69.61 million. On average, sell-side analysts forecast that Carlyle Secured Lending will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Carlyle Secured Lending

In other news, Director John G. Nestor sold 13,238 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $13.49, for a total transaction of $178,580.62. Following the completion of the sale, the director directly owned 14,593 shares of the company’s stock, valued at approximately $196,859.57. The trade was a 47.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas M. Hennigan purchased 7,285 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was bought at an average price of $13.75 per share, for a total transaction 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. The trade was a 8.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Carlyle Secured Lending

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGBD. Rossby Financial LCC purchased a new stake in Carlyle Secured Lending in the 3rd quarter valued at about $25,000. Quarry LP bought a new stake in shares of Carlyle Secured Lending during the first quarter valued at approximately $32,000. Northwestern Mutual Wealth Management Co. raised its stake 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 acquiring an additional 1,100 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Carlyle Secured Lending in the third quarter valued at approximately $37,000. Finally, Tower Research Capital LLC TRC grew its stake in 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 worth $59,000 after purchasing an additional 3,925 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.