Carlyle Secured Lending (NASDAQ:CGBD) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Carlyle Secured Lending (NASDAQ:CGBD) released its quarterly earnings results on Tuesday. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01), Zacks reports. Carlyle Secured Lending had a net margin of 29.71% and a return on equity of 9.85%.

Carlyle Secured Lending Price Performance

CGBD traded down $0.15 on Tuesday, hitting $12.47. 946,243 shares of the stock were exchanged, compared to its average volume of 402,324. Carlyle Secured Lending has a 12 month low of $11.65 and a 12 month high of $18.64. The business has a 50-day moving average of $13.00 and a two-hundred day moving average of $13.65. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $635.47 million, a price-to-earnings ratio of 10.39 and a beta of 0.87.

Analyst Ratings Changes

Several research firms have recently weighed in on CGBD. Raymond James Financial upgraded shares of Carlyle Secured Lending from a “market perform” rating to an “outperform” rating and set a $15.00 price target for the company in a report on Tuesday, October 7th. JPMorgan Chase & Co. upgraded shares of Carlyle Secured Lending from an “underweight” rating to a “neutral” rating and lowered their target price for the stock from $13.50 to $12.50 in a report on Wednesday, October 1st. B. Riley reiterated a “neutral” rating and issued a $14.50 price objective (up from $14.00) on shares of Carlyle Secured Lending in a report on Monday, August 11th. Finally, Wells Fargo & Company upgraded shares of Carlyle Secured Lending from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $13.00 to $15.00 in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.83.

Insider Activity

In other news, Director John G. Nestor sold 13,238 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $13.49, for a total value of $178,580.62. Following the completion of the transaction, the director owned 14,593 shares of the company’s stock, valued at approximately $196,859.57. This represents a 47.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas M. Hennigan bought 7,285 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was bought at an average cost of $13.75 per share, with a total value of $100,168.75. Following the acquisition, the chief financial officer directly owned 88,495 shares of the company’s stock, valued at approximately $1,216,806.25. The trade was a 8.97% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Carlyle Secured Lending by 71.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company’s stock worth $36,000 after acquiring an additional 1,100 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Carlyle Secured Lending by 1,011.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,313 shares of the company’s stock valued at $59,000 after buying an additional 3,925 shares during the period. Brevan Howard Capital Management LP acquired a new position in shares of Carlyle Secured Lending in the second quarter valued at approximately $145,000. Quantbot Technologies LP acquired a new position in shares of Carlyle Secured Lending in the second quarter valued at approximately $146,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Carlyle Secured Lending in the second quarter valued at approximately $173,000. Institutional investors own 24.51% of the company’s stock.

About Carlyle Secured Lending

Carlyle Secured Lending, Inc is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector.