Carlyle Secured Lending (NASDAQ:CGBD) Stock Bumped Down to “Hold” by Zacks Research

Carlyle Secured Lending (NASDAQ:CGBD) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

Several other research analysts also recently weighed in on CGBD. Wells Fargo & Company downgraded Carlyle Secured Lending from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $12.00 to $11.00 in a report on Tuesday, September 29th. Raymond James Financial set a $11.00 price objective on Carlyle Secured Lending in a report on Thursday, October 22nd. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.25.

Carlyle Secured Lending Stock Up 2.4%

Shares of NASDAQ CGBD opened at $11.04 on Tuesday. Carlyle Secured Lending has a 1 year low of $9.94 and a 1 year high of $13.28. The firm’s 50 day moving average price is $10.97 and its 200 day moving average price is $11.13. The firm has a market cap of $759.61 million, a P/E ratio of 21.65 and a beta of 0.66. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.79 and a current ratio of 0.79.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CGBD. Lalia Capital LLC purchased a new position in Carlyle Secured Lending during the second quarter worth approximately $9,765,000. North Ground Capital acquired a new position in shares of Carlyle Secured Lending in the 2nd quarter valued at $6,486,480. Legal & General Group Plc purchased a new stake in shares of Carlyle Secured Lending during the 2nd quarter valued at $6,090,000. Van ECK Associates Corp grew its stake in shares of Carlyle Secured Lending by 33.2% during the 2nd quarter. Van ECK Associates Corp now owns 1,748,836 shares of the company’s stock valued at $18,415,000 after buying an additional 436,365 shares during the period. Finally, Park Avenue Securities LLC grew its stake in shares of Carlyle Secured Lending by 172.7% during the 3rd quarter. Park Avenue Securities LLC now owns 513,885 shares of the company’s stock valued at $5,493,000 after buying an additional 325,461 shares during the period. 24.51% of the stock is currently owned by hedge funds and other institutional investors.

About Carlyle Secured Lending

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.