Wells Fargo & Company Lowers Carlyle Secured Lending (NASDAQ:CGBD) Price Target to $14.00

Carlyle Secured Lending (NASDAQ:CGBD) had its target price lowered by analysts at Wells Fargo & Company from $15.00 to $14.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 16.62% from the stock’s previous close.

CGBD has been the topic of a number of other reports. B. Riley restated a “neutral” rating and set a $14.50 target price (up from $14.00) on shares of Carlyle Secured Lending in a research note on Monday, August 11th. 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 on the stock in a research note on Tuesday, October 7th. Finally, JPMorgan Chase & Co. upgraded shares of Carlyle Secured Lending from an “underweight” rating to a “neutral” rating and dropped their price target for the company from $13.50 to $12.50 in a research note on Wednesday, October 1st. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Carlyle Secured Lending presently has a consensus rating of “Hold” and a consensus target price of $14.67.

Carlyle Secured Lending Stock Down 1.0%

Shares of CGBD traded down $0.13 during mid-day trading on Thursday, hitting $12.01. 143,691 shares of the company’s stock were exchanged, compared to its average volume of 402,342. The stock’s 50-day moving average is $12.93 and its 200-day moving average is $13.62. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.73 and a current ratio of 0.73. Carlyle Secured Lending has a fifty-two week low of $11.65 and a fifty-two week high of $18.64. The company has a market cap of $611.74 million, a price-to-earnings ratio of 10.17 and a beta of 0.87.

Carlyle Secured Lending (NASDAQ:CGBD) last released its earnings results on Tuesday, November 4th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Carlyle Secured Lending had a return on equity of 9.46% and a net margin of 30.18%.The firm had revenue of $66.51 million for the quarter, compared to analysts’ expectations of $69.61 million. On average, sell-side analysts anticipate that Carlyle Secured Lending will post 1.97 earnings per share for the current fiscal year.

Insider Activity at Carlyle Secured Lending

In related news, CFO Thomas M. Hennigan purchased 7,285 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average cost of $13.75 per share, with a total value of $100,168.75. Following the completion of the acquisition, the chief financial officer directly owned 88,495 shares in the company, valued at $1,216,806.25. This trade represents a 8.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John G. Nestor sold 13,238 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $13.49, for a total value of $178,580.62. Following the sale, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Carlyle Secured Lending

A number of hedge funds and other institutional investors have recently bought and sold shares of CGBD. Round Rock Advisors LLC lifted its stake in shares of Carlyle Secured Lending by 146.6% in the 1st quarter. Round Rock Advisors LLC now owns 45,800 shares of the company’s stock valued at $741,000 after purchasing an additional 27,230 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new position in shares of Carlyle Secured Lending in the 2nd quarter valued at about $30,158,000. LPL Financial LLC lifted its stake in shares of Carlyle Secured Lending by 33.2% in the 1st quarter. LPL Financial LLC now owns 82,458 shares of the company’s stock valued at $1,334,000 after purchasing an additional 20,549 shares in the last quarter. Ieq Capital LLC acquired a new position in Carlyle Secured Lending during the 1st quarter worth approximately $585,000. Finally, Mackenzie Financial Corp acquired a new position in Carlyle Secured Lending during the 1st quarter worth approximately $406,000. Institutional investors and hedge funds own 24.51% of the company’s stock.

Carlyle Secured Lending Company Profile

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.