Carlyle Secured Lending (NASDAQ:CGBD) PT Raised to $17.00

Carlyle Secured Lending (NASDAQ:CGBD - Free Report) had its price objective boosted by Wells Fargo & Company from $16.00 to $17.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Separately, JPMorgan Chase & Co. cut Carlyle Secured Lending from a "neutral" rating to an "underweight" rating and set a $17.00 price objective for the company. in a research note on Monday, July 29th.

Carlyle Secured Lending Stock Down 1.2 %

NASDAQ:CGBD traded down $0.20 during mid-day trading on Tuesday, reaching $17.16. The company's stock had a trading volume of 60,763 shares, compared to its average volume of 210,729. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.05. Carlyle Secured Lending has a 1 year low of $13.37 and a 1 year high of $18.74. The stock has a fifty day moving average of $17.15 and a 200-day moving average of $17.39. The firm has a market capitalization of $871.64 million, a PE ratio of 10.04 and a beta of 1.59.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The firm had revenue of $58.26 million during the quarter, compared to analysts' expectations of $42.21 million. Carlyle Secured Lending had a net margin of 44.19% and a return on equity of 12.74%. During the same quarter in the prior year, the company earned $0.52 EPS. Equities research analysts forecast that Carlyle Secured Lending will post 1.96 earnings per share for the current year.

Carlyle Secured Lending Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Monday, September 30th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 10.96%. The ex-dividend date was Monday, September 30th. Carlyle Secured Lending's dividend payout ratio is currently 93.57%.

Institutional Trading of Carlyle Secured Lending

Several hedge funds and other institutional investors have recently made changes to their positions in CGBD. Kimelman & Baird LLC acquired a new position in Carlyle Secured Lending during the 2nd quarter valued at about $35,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Carlyle Secured Lending during the second quarter worth about $52,000. nVerses Capital LLC acquired a new position in shares of Carlyle Secured Lending during the second quarter valued at about $53,000. Kingsview Wealth Management LLC purchased a new position in shares of Carlyle Secured Lending in the 1st quarter valued at approximately $171,000. Finally, Magnetar Financial LLC acquired a new stake in Carlyle Secured Lending in the 2nd quarter worth approximately $189,000. Hedge funds and other institutional investors own 24.51% of the company's stock.

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.