Carlyle Secured Lending (NASDAQ:CGBD) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of Carlyle Secured Lending (NASDAQ:CGBD) from a hold rating to a strong sell rating in a research report sent to investors on Monday,Zacks.com reports.

Several other research analysts also recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Carlyle Secured Lending from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. JPMorgan Chase & Co. lowered their price target on Carlyle Secured Lending from $12.50 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Raymond James Financial raised Carlyle Secured Lending from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research note on Tuesday, October 7th. Finally, B. Riley decreased their price objective on Carlyle Secured Lending from $14.50 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.33.

Carlyle Secured Lending Stock Up 1.6%

Carlyle Secured Lending stock opened at $12.06 on Monday. The stock has a market cap of $614.58 million, a PE ratio of 10.22 and a beta of 0.87. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s fifty day moving average is $12.78 and its two-hundred day moving average is $13.55. Carlyle Secured Lending has a 1-year low of $11.65 and a 1-year high of $18.64.

Carlyle Secured Lending (NASDAQ:CGBD) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Carlyle Secured Lending had a net margin of 30.18% and a return on equity of 9.24%. The business had revenue of $66.51 million during the quarter, compared to analysts’ expectations of $69.61 million. On average, sell-side analysts expect that Carlyle Secured Lending will post 1.97 EPS for the current fiscal year.

Carlyle Secured Lending Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Wednesday, December 31st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 13.3%. The ex-dividend date is Wednesday, December 31st. Carlyle Secured Lending’s dividend payout ratio (DPR) is currently 135.59%.

Insider Transactions at Carlyle Secured Lending

In other news, Director John G. Nestor sold 13,238 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $13.49, for a total transaction of $178,580.62. Following the completion of the transaction, the director owned 14,593 shares of the company’s stock, valued at $196,859.57. This represents a 47.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas M. Hennigan purchased 7,285 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were bought at an average cost of $13.75 per share, for a total transaction of $100,168.75. Following the purchase, the chief financial officer owned 88,495 shares of the company’s stock, valued at $1,216,806.25. This trade represents a 8.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Carlyle Secured Lending

Several institutional investors have recently bought and sold shares of CGBD. Rossby Financial LCC acquired a new stake in shares of Carlyle Secured Lending in the third quarter valued at about $25,000. Quarry LP acquired a new position in Carlyle Secured Lending during the 1st quarter worth approximately $32,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Carlyle Secured Lending by 71.9% in 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 during the period. State of Alaska Department of Revenue purchased a new position in Carlyle Secured Lending in the 3rd quarter worth approximately $37,000. Finally, Tower Research Capital LLC TRC grew its position in Carlyle Secured Lending by 1,011.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,313 shares of the company’s stock valued at $59,000 after acquiring an additional 3,925 shares in the last quarter. 24.51% of the stock is currently owned by hedge funds and other institutional investors.

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.