Carlyle Secured Lending (NASDAQ:CGBD) Stock Rating Cut to Hold at Zacks Research

Zacks Research downgraded shares of Carlyle Secured Lending (NASDAQ:CGBD) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks reports.

Several other brokerages also recently commented on CGBD. Wells Fargo & Company downgraded shares of Carlyle Secured Lending from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $12.00 to $11.00 in a report on Tuesday, September 29th. Raymond James Financial set a $11.00 price target on shares of Carlyle Secured Lending in a report on Thursday, October 22nd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.25.

Carlyle Secured Lending Stock Up 2.4%

Carlyle Secured Lending stock opened at $11.04 on Tuesday. The company’s 50 day simple moving average is $10.97 and its 200 day simple moving average is $11.13. Carlyle Secured Lending has a fifty-two week low of $9.94 and a fifty-two week high of $13.28. The firm has a market capitalization of $759.61 million, a price-to-earnings ratio of 21.65 and a beta of 0.66. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.79 and a quick ratio of 0.79.

Institutional Investors Weigh In On Carlyle Secured Lending

Institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in shares of Carlyle Secured Lending by 33.2% in the second quarter. Van ECK Associates Corp now owns 1,748,836 shares of the company’s stock valued at $18,415,000 after purchasing an additional 436,365 shares during the last quarter. Choreo LLC lifted its position in shares of Carlyle Secured Lending by 2.6% in the third quarter. Choreo LLC now owns 1,397,178 shares of the company’s stock worth $14,936,000 after purchasing an additional 35,927 shares in the last quarter. Lalia Capital LLC acquired a new position in Carlyle Secured Lending during the second quarter worth $9,765,000. North Ground Capital acquired a new position in Carlyle Secured Lending during the second quarter worth $6,486,480. Finally, Legal & General Group Plc acquired a new position in Carlyle Secured Lending during the second quarter worth $6,090,000. Institutional investors own 24.51% of the company’s stock.

About Carlyle Secured Lending

Carlyle Secured Lending, Inc (NASDAQ:CGBD) is a business development company that invests in privately held, middle-market companies. Its primary objective is to generate current income and, to a lesser extent, capital appreciation by providing financing to businesses that may have limited access to traditional sources of capital.

The company primarily invests in first-lien senior secured loans, while also pursuing opportunities in second-lien loans, subordinated debt and equity investments.