Wells Fargo & Company Has Lowered Expectations for Carlyle Secured Lending (NASDAQ:CGBD) Stock Price

Carlyle Secured Lending (NASDAQ:CGBD) had its price target reduced by Wells Fargo & Company from $14.00 to $13.00 in a research note published on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also weighed in on CGBD. Bank of America lowered shares of Carlyle Secured Lending from a “buy” rating to an “underperform” rating and set a $17.00 price target on the stock. in a research note on Monday, February 10th. JPMorgan Chase & Co. dropped their price target on Carlyle Secured Lending from $17.00 to $14.00 and set an “underweight” rating for the company in a research report on Thursday, April 24th.

Carlyle Secured Lending Price Performance

Shares of Carlyle Secured Lending stock opened at $13.67 on Thursday. The firm has a market cap of $696.58 million, a PE ratio of 7.64 and a beta of 0.93. Carlyle Secured Lending has a twelve month low of $13.12 and a twelve month high of $18.74. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average price of $15.40 and a 200 day moving average price of $16.85.

Carlyle Secured Lending (NASDAQ:CGBD) last announced its earnings results on Tuesday, May 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The business had revenue of $54.60 million for the quarter, compared to analysts’ expectations of $55.50 million. Carlyle Secured Lending had a net margin of 40.69% and a return on equity of 12.60%. Sell-side analysts predict that Carlyle Secured Lending will post 1.97 earnings per share for the current fiscal year.

Carlyle Secured Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 11.70%. The ex-dividend date of this dividend is Monday, June 30th. Carlyle Secured Lending’s dividend payout ratio (DPR) is currently 118.52%.

Institutional Trading of Carlyle Secured Lending

A number of hedge funds and other institutional investors have recently modified their holdings of CGBD. Jane Street Group LLC boosted its holdings in Carlyle Secured Lending by 30.9% in the 3rd quarter. Jane Street Group LLC now owns 13,775 shares of the company’s stock valued at $234,000 after purchasing an additional 3,249 shares during the last quarter. Franklin Resources Inc. purchased a new position in Carlyle Secured Lending in the third quarter worth approximately $585,000. Redhawk Wealth Advisors Inc. increased its stake in Carlyle Secured Lending by 5.7% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 39,403 shares of the company’s stock worth $706,000 after acquiring an additional 2,139 shares during the last quarter. Herbst Group LLC raised its position in Carlyle Secured Lending by 4.2% in the fourth quarter. Herbst Group LLC now owns 127,180 shares of the company’s stock valued at $2,280,000 after purchasing an additional 5,120 shares during the period. Finally, Grimes & Company Inc. lifted its stake in shares of Carlyle Secured Lending by 28.6% in the 4th quarter. Grimes & Company Inc. now owns 30,104 shares of the company’s stock valued at $540,000 after purchasing an additional 6,690 shares during the last quarter. 24.51% of the stock is owned by institutional investors and hedge funds.

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.