Carlyle Secured Lending (NASDAQ:CGBD) Stock Rating Cut to “Equal Weight” at Wells Fargo & Company

Carlyle Secured Lending (NASDAQ:CGBD) was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They currently have a $11.00 target price on the stock. Wells Fargo & Company‘s target price points to a potential upside of 0.59% from the company’s current price.

Carlyle Secured Lending Price Performance

Shares of NASDAQ:CGBD traded down $0.17 during trading on Tuesday, reaching $10.94. The stock had a trading volume of 94,520 shares, compared to its average volume of 614,815. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.79 and a current ratio of 0.79. The business has a fifty day moving average price of $11.12 and a 200-day moving average price of $11.05. The stock has a market cap of $752.38 million, a PE ratio of 21.44 and a beta of 0.64. Carlyle Secured Lending has a 1-year low of $9.94 and a 1-year high of $13.28.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CGBD. Compass Financial Management LLC purchased a new stake in shares of Carlyle Secured Lending in the second quarter valued at approximately $464,000. Van ECK Associates Corp raised its stake in Carlyle Secured Lending by 33.2% during the second quarter. Van ECK Associates Corp now owns 1,748,836 shares of the company’s stock worth $18,415,000 after purchasing an additional 436,365 shares during the period. Glenview Trust Co acquired a new position in Carlyle Secured Lending in the 2nd quarter valued at about $147,000. Almitas Capital LLC purchased a new stake in shares of Carlyle Secured Lending in the 2nd quarter valued at approximately $452,000. Finally, Corient Private Wealth LP purchased a new stake in shares of Carlyle Secured Lending in the 2nd quarter valued at approximately $1,921,000. 24.51% of the stock is 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 privately owned, middle-market companies. The company’s investment objective is to generate current income and, to a lesser extent, capital appreciation by investing in debt and equity securities.

Carlyle Secured Lending primarily invests in senior secured loans, including first-lien and second-lien loans, as well as subordinated debt and select equity investments. Its portfolio companies operate across a range of industries, and the company generally focuses on established businesses with experienced management teams and significant private equity sponsorship.

The company invests primarily in the United States and is externally managed by Carlyle Global Credit Investment Management LLC, an affiliate of The Carlyle Group.