Carlyle Secured Lending (NASDAQ:CGBD) Stock Gets Downgrade from Zacks Research

Carlyle Secured Lending (NASDAQ:CGBD) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

Other analysts also recently issued research reports about the stock. Raymond James Financial set a $11.00 target price on shares of Carlyle Secured Lending in a research report on Thursday, October 22nd. Wells Fargo & Company cut shares of Carlyle Secured Lending from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $12.00 to $11.00 in a research report on Tuesday, September 29th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.25.

Carlyle Secured Lending Stock Performance

Carlyle Secured Lending stock opened at $11.04 on Tuesday. The company has a market cap of $759.61 million, a price-to-earnings ratio of 21.65 and a beta of 0.66. Carlyle Secured Lending has a 12 month low of $9.94 and a 12 month high of $13.28. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.79 and a quick ratio of 0.79. The stock’s 50-day moving average is $10.97 and its 200-day moving average is $11.13.

Institutional Trading of Carlyle Secured Lending

Institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its holdings in Carlyle Secured Lending by 33.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,748,836 shares of the company’s stock valued at $18,415,000 after purchasing an additional 436,365 shares in the last quarter. Choreo LLC lifted its stake in shares of Carlyle Secured Lending by 2.6% during the third quarter. Choreo LLC now owns 1,397,178 shares of the company’s stock worth $14,936,000 after purchasing an additional 35,927 shares in the last quarter. Lalia Capital LLC acquired a new position in shares of Carlyle Secured Lending during the second quarter worth about $9,765,000. North Ground Capital acquired a new position in shares of Carlyle Secured Lending during the second quarter worth about $6,486,480. Finally, Legal & General Group Plc purchased a new stake in shares of Carlyle Secured Lending in the second quarter worth about $6,090,000. 24.51% of the stock is owned by hedge funds and other institutional investors.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc (NASDAQ:CGBD) is a business development company that invests in privately held, middle-market companies. Its primary objective is to generate current income and, to a lesser extent, capital appreciation by providing financing to businesses that may have limited access to traditional sources of capital.

The company primarily invests in first-lien senior secured loans, while also pursuing opportunities in second-lien loans, subordinated debt and equity investments.