Wells Fargo & Company Downgrades Carlyle Secured Lending (NASDAQ:CGBD) to Hold

Carlyle Secured Lending (NASDAQ:CGBD) was downgraded by equities research analysts at Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Marketbeat reports. They presently have a $11.00 price target on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 0.90% from the company’s current price.

Carlyle Secured Lending Trading Down 0.9%

Shares of NASDAQ:CGBD opened at $11.10 on Tuesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.79 and a quick ratio of 0.79. Carlyle Secured Lending has a 1 year low of $9.94 and a 1 year high of $13.28. The company has a market cap of $763.74 million, a P/E ratio of 21.77 and a beta of 0.64. The stock’s fifty day moving average price is $11.12 and its 200-day moving average price is $11.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP purchased a new position in shares of Carlyle Secured Lending during the second quarter valued at approximately $27,000. Burk Holdings LLC bought a new position in shares of Carlyle Secured Lending in the second quarter worth about $37,000. Entropy Technologies LP increased its stake in Carlyle Secured Lending by 37.4% in the 1st quarter. Entropy Technologies LP now owns 18,913 shares of the company’s stock worth $207,000 after buying an additional 5,146 shares during the period. Beaumont Financial Advisors LLC bought a new stake in Carlyle Secured Lending during the 1st quarter valued at about $110,000. Finally, Novare Capital Management LLC boosted its position in Carlyle Secured Lending by 4.3% in the 1st quarter. Novare Capital Management LLC now owns 251,395 shares of the company’s stock valued at $2,750,000 after buying an additional 10,345 shares during the period. Hedge funds and other institutional investors own 24.51% of the company’s stock.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc (NASDAQ: CGBD) is a business development company that provides financing to privately owned, middle-market companies. The company’s investment objective is to generate current income and, to a lesser extent, capital appreciation by investing in debt and equity securities.

Carlyle Secured Lending primarily invests in senior secured loans, including first-lien and second-lien loans, as well as subordinated debt and select equity investments. Its portfolio companies operate across a range of industries, and the company generally focuses on established businesses with experienced management teams and significant private equity sponsorship.

The company invests primarily in the United States and is externally managed by Carlyle Global Credit Investment Management LLC, an affiliate of The Carlyle Group.