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

Zacks Research upgraded shares of Carlyle Secured Lending (NASDAQ:CGBD) from a hold rating to a strong-buy rating in a report issued on Monday morning,Zacks reports.

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

Carlyle Secured Lending Trading Down 0.5%

Shares of CGBD opened at $10.48 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.20. Carlyle Secured Lending has a 12-month low of $9.94 and a 12-month high of $13.28. The firm has a 50-day moving average price of $11.19 and a 200 day moving average price of $11.01. The firm has a market capitalization of $721.13 million, a P/E ratio of 20.55 and a beta of 0.66.

Carlyle Secured Lending Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 13.4%. The ex-dividend date of this dividend is Wednesday, September 30th. Carlyle Secured Lending’s dividend payout ratio is 274.51%.

Hedge Funds Weigh In On Carlyle Secured Lending

Hedge funds have recently modified their holdings of the business. Allworth Financial LP purchased a new position in shares of Carlyle Secured Lending during the 2nd quarter worth approximately $27,000. Burk Holdings LLC acquired a new position in Carlyle Secured Lending during the second quarter worth $37,000. Beaumont Financial Advisors LLC purchased a new position in shares of Carlyle Secured Lending during the first quarter worth $110,000. SCS Capital Management LLC purchased a new stake in shares of Carlyle Secured Lending in the 2nd quarter valued at $123,000. Finally, CFO4Life Group LLC purchased a new position in Carlyle Secured Lending during the 2nd quarter valued at about $129,000. 24.51% of the stock is currently 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 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.