JPMorgan Chase & Co. Has Lowered Expectations for Carlyle Secured Lending (NASDAQ:CGBD) Stock Price

Carlyle Secured Lending (NASDAQ:CGBD) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $12.00 to $10.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 7.18% from the stock’s current price.

A number of other brokerages have also weighed in on CGBD. Zacks Research raised shares of Carlyle Secured Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 9th. B. Riley Financial raised Carlyle Secured Lending from a “neutral” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Wednesday, February 25th. Citigroup assumed coverage on Carlyle Secured Lending in a research report on Monday, December 8th. They issued a “market perform” rating for the company. Wall Street Zen upgraded Carlyle Secured Lending from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. Finally, Wells Fargo & Company decreased their price objective on Carlyle Secured Lending from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Carlyle Secured Lending currently has an average rating of “Hold” and a consensus price target of $13.20.

Carlyle Secured Lending Trading Down 0.8%

NASDAQ:CGBD traded down $0.09 during mid-day trading on Friday, reaching $10.77. 241,305 shares of the company’s stock traded hands, compared to its average volume of 626,207. The company has a 50 day moving average price of $12.02 and a 200-day moving average price of $12.50. The firm has a market capitalization of $761.44 million, a price-to-earnings ratio of 10.59 and a beta of 0.70. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.85. Carlyle Secured Lending has a 12-month low of $10.61 and a 12-month high of $17.33.

Carlyle Secured Lending (NASDAQ:CGBD) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). The business had revenue of $66.91 million during the quarter, compared to the consensus estimate of $67.26 million. Carlyle Secured Lending had a return on equity of 8.56% and a net margin of 27.38%. On average, sell-side analysts predict that Carlyle Secured Lending will post 1.97 earnings per share for the current year.

Insider Buying and Selling at Carlyle Secured Lending

In other news, Director John G. Nestor sold 4,401 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $11.29, for a total transaction of $49,687.29. Following the completion of the transaction, the director directly owned 5,516 shares in the company, valued at $62,275.64. This trade represents a 44.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by insiders.

Institutional Trading of Carlyle Secured Lending

Institutional investors have recently bought and sold shares of the company. Bright Futures Wealth Management LLC. purchased a new position in Carlyle Secured Lending in the third quarter worth about $1,206,000. Legal & General Group Plc grew its holdings in shares of Carlyle Secured Lending by 38.4% during the second quarter. Legal & General Group Plc now owns 459,870 shares of the company’s stock valued at $6,291,000 after buying an additional 127,681 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Carlyle Secured Lending by 58.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 418,493 shares of the company’s stock valued at $5,231,000 after acquiring an additional 154,355 shares in the last quarter. Cliffwater LLC purchased a new position in Carlyle Secured Lending in the 2nd quarter worth approximately $7,505,000. Finally, North Ground Capital bought a new position in Carlyle Secured Lending in the 3rd quarter valued at approximately $5,952,000. 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 closed-end, non-diversified business development company that provides customized debt financing solutions to middle-market companies. Chartered under the Investment Company Act of 1940, the company invests primarily in floating-rate senior secured loans, including first-lien, unitranche and one-stop structures. Its objective is to generate current income and capital appreciation through disciplined credit selection and active portfolio management.

The firm focuses on U.S.