Carlyle Secured Lending (NASDAQ:CGBD) Posts Earnings Results, Beats Estimates By $0.03 EPS

Carlyle Secured Lending (NASDAQ:CGBD) released its quarterly earnings results on Thursday. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03, Zacks reports. Carlyle Secured Lending had a net margin of 19.52% and a return on equity of 8.99%. The business had revenue of $62.09 million for the quarter, compared to analysts’ expectations of $59.43 million.

Carlyle Secured Lending Stock Performance

Shares of NASDAQ:CGBD traded up $0.38 during midday trading on Thursday, reaching $10.66. The company had a trading volume of 500,818 shares, compared to its average volume of 585,956. The stock has a market cap of $740.87 million, a P/E ratio of 15.01 and a beta of 0.62. The company’s 50 day moving average price is $10.60 and its 200 day moving average price is $11.17. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.24. Carlyle Secured Lending has a 52-week low of $9.94 and a 52-week high of $14.03.

Institutional Trading of Carlyle Secured Lending

Hedge funds have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC raised its stake in shares of Carlyle Secured Lending by 58.2% in 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 period. Toronto Dominion Bank bought a new position in shares of Carlyle Secured Lending during the 4th quarter worth $6,245,000. Two Sigma Investments LP grew its stake in shares of Carlyle Secured Lending by 199.4% during the 3rd quarter. Two Sigma Investments LP now owns 727,570 shares of the company’s stock worth $9,095,000 after acquiring an additional 484,581 shares during the period. North Ground Capital increased its holdings 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, BI Asset Management Fondsmaeglerselskab A S increased its holdings in Carlyle Secured Lending by 9,270.5% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 219,176 shares of the company’s stock worth $2,998,000 after acquiring an additional 216,837 shares during the last quarter. Institutional investors own 24.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CGBD shares. Wells Fargo & Company decreased their price objective on shares of Carlyle Secured Lending from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. B. Riley Financial restated a “buy” rating on shares of Carlyle Secured Lending in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Carlyle Secured Lending presently has a consensus rating of “Hold” and a consensus target price of $12.50.

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.