Wells Fargo & Company Issues Pessimistic Forecast for Carlyle Secured Lending (NASDAQ:CGBD) Stock Price

Carlyle Secured Lending (NASDAQ:CGBD) had its target price cut by research analysts at Wells Fargo & Company from $14.00 to $13.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 15.70% from the company’s previous close.

A number of other equities analysts also recently weighed in on CGBD. JPMorgan Chase & Co. lowered their target price on shares of Carlyle Secured Lending from $12.50 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Zacks Research raised Carlyle Secured Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 9th. Citigroup initiated coverage on Carlyle Secured Lending in a report on Monday, December 8th. They issued a “market perform” rating for the company. Wall Street Zen raised shares of Carlyle Secured Lending from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Finally, B. Riley Financial raised shares of Carlyle Secured Lending from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.60.

Carlyle Secured Lending Trading Down 3.0%

Shares of CGBD stock traded down $0.34 on Friday, hitting $11.24. The company had a trading volume of 161,617 shares, compared to its average volume of 568,286. The stock’s 50-day moving average is $12.31 and its two-hundred day moving average is $12.69. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.90 and a current ratio of 0.85. The firm has a market cap of $572.55 million, a P/E ratio of 10.96 and a beta of 0.70. Carlyle Secured Lending has a twelve month low of $10.87 and a twelve month high of $17.94.

Carlyle Secured Lending (NASDAQ:CGBD) last announced its earnings results on Tuesday, February 24th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.05). Carlyle Secured Lending had a net margin of 27.38% and a return on equity of 8.56%. The company had revenue of $66.91 million during the quarter, compared to the consensus estimate of $67.26 million. On average, equities research analysts anticipate that Carlyle Secured Lending will post 1.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carlyle Secured Lending

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rossby Financial LCC acquired a new position in shares of Carlyle Secured Lending during the 3rd quarter worth $25,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Carlyle Secured Lending by 71.9% during the 2nd 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 in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Carlyle Secured Lending in the 3rd quarter worth approximately $37,000. Kestra Advisory Services LLC acquired a new position in Carlyle Secured Lending during the fourth quarter worth $47,000. Finally, Tower Research Capital LLC TRC raised its holdings in Carlyle Secured Lending by 1,011.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,313 shares of the company’s stock worth $59,000 after purchasing an additional 3,925 shares during the last quarter. Institutional investors and hedge funds own 24.51% of the company’s stock.

About Carlyle Secured Lending

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.