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 research report issued to clients and investors on Tuesday, Zacks reports.

Several other brokerages have also issued reports on CGBD. Wells Fargo & Company lowered Carlyle Secured Lending from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $12.00 to $11.00 in a research note on Tuesday, September 29th. Raymond James Financial set a $11.00 price target on Carlyle Secured Lending in a research note on Thursday, October 22nd. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.25.

Carlyle Secured Lending Price Performance

Shares of NASDAQ CGBD opened at $11.04 on Tuesday. The stock has a fifty day simple moving average of $10.97 and a two-hundred day simple moving average of $11.13. Carlyle Secured Lending has a 1-year low of $9.94 and a 1-year high of $13.28. The firm has a market cap of $759.61 million, a price-to-earnings ratio of 21.65 and a beta of 0.66. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.20.

Institutional Trading of Carlyle Secured Lending

Several hedge funds and other institutional investors have recently modified their holdings of CGBD. Commonwealth Equity Services LLC lifted its stake in shares of Carlyle Secured Lending by 15.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 16,033 shares of the company’s stock valued at $171,000 after buying an additional 2,190 shares in the last quarter. Allworth Financial LP purchased a new position in Carlyle Secured Lending in the 2nd quarter valued at approximately $27,000. Burk Holdings LLC purchased a new position in Carlyle Secured Lending in the 2nd quarter valued at approximately $37,000. Entropy Technologies LP grew its stake in Carlyle Secured Lending by 37.4% in the 1st quarter. Entropy Technologies LP now owns 18,913 shares of the company’s stock valued at $207,000 after buying an additional 5,146 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in Carlyle Secured Lending by 10.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 74,014 shares of the company’s stock valued at $791,000 after acquiring an additional 7,034 shares during the period. Institutional investors own 24.51% of the company’s stock.

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.