Carlyle Secured Lending (NASDAQ:CGBD) Price Target Cut to $10.00 by Analysts at JPMorgan Chase & Co.

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

Other equities research analysts have also issued reports about the stock. Citigroup assumed coverage on shares of Carlyle Secured Lending in a research note on Monday, December 8th. They set 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 report on Saturday, January 3rd. B. Riley Financial raised Carlyle Secured Lending from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Wednesday, February 25th. Citizens Jmp assumed coverage on shares of Carlyle Secured Lending in a research report on Monday, December 8th. They set a “market perform” rating for the company. Finally, Zacks Research upgraded shares of Carlyle Secured Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 9th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.20.

Carlyle Secured Lending Stock Performance

CGBD traded down $0.09 during midday trading on Friday, hitting $10.77. 241,305 shares of the company traded hands, compared to its average volume of 626,207. The company’s 50-day moving average is $12.02 and its 200 day moving average is $12.50. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $761.44 million, a PE ratio of 10.59 and a beta of 0.70. Carlyle Secured Lending has a 52 week low of $10.61 and a 52 week high of $17.33.

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

Insider Activity at Carlyle Secured Lending

In other news, Director John G. Nestor sold 4,401 shares of Carlyle Secured Lending stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $11.29, for a total transaction of $49,687.29. Following the transaction, the director directly owned 5,516 shares of the company’s stock, valued at $62,275.64. The trade was a 44.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carlyle Secured Lending

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning increased its holdings in shares of Carlyle Secured Lending by 0.9% in the second quarter. Creative Planning now owns 4,916,335 shares of the company’s stock worth $67,255,000 after purchasing an additional 44,062 shares during the last quarter. Rivernorth Capital Management LLC boosted its stake in Carlyle Secured Lending by 58.2% during the fourth quarter. Rivernorth Capital Management LLC now owns 1,900,728 shares of the company’s stock valued at $23,740,000 after buying an additional 699,586 shares during the last quarter. Choreo LLC purchased a new position in Carlyle Secured Lending during the 2nd quarter valued at approximately $20,529,000. North Ground Capital increased its stake in Carlyle Secured Lending by 91.6% in the 4th quarter. North Ground Capital now owns 912,220 shares of the company’s stock worth $11,394,000 after acquiring an additional 436,086 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Carlyle Secured Lending by 15.6% in the 3rd quarter. Invesco Ltd. now owns 901,237 shares of the company’s stock worth $11,265,000 after acquiring an additional 121,651 shares during the last quarter. Institutional investors own 24.51% of the company’s stock.

Carlyle Secured Lending Company Profile

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.