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

Carlyle Secured Lending (NASDAQ:CGBD) had its price objective lowered by Wells Fargo & Company from $14.00 to $13.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 15.70% from the stock’s current price.

CGBD has been the subject of a number of other reports. Citigroup assumed coverage on shares of Carlyle Secured Lending in a research note on Monday, December 8th. They set a “market perform” rating for the company. Wall Street Zen raised Carlyle Secured Lending from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. Zacks Research raised Carlyle Secured Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 9th. Citizens Jmp initiated coverage on Carlyle Secured Lending in a research note on Monday, December 8th. They issued a “market perform” rating on the stock. Finally, B. Riley Financial upgraded Carlyle Secured Lending from a “neutral” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.60.

Carlyle Secured Lending Price Performance

Shares of Carlyle Secured Lending stock traded down $0.34 during mid-day trading on Friday, reaching $11.24. 161,617 shares of the stock were exchanged, compared to its average volume of 568,286. Carlyle Secured Lending has a fifty-two week low of $10.87 and a fifty-two week high of $17.94. The company has a market cap of $572.55 million, a price-to-earnings ratio of 10.96 and a beta of 0.70. The firm has a 50-day simple moving average of $12.31 and a 200 day simple moving average of $12.69. The company has a current ratio of 0.85, a quick ratio of 0.90 and a debt-to-equity ratio of 1.31.

Carlyle Secured Lending (NASDAQ:CGBD) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). Carlyle Secured Lending had a return on equity of 8.56% and a net margin of 27.38%.The business had revenue of $66.91 million for the quarter, compared to the consensus estimate of $67.26 million. On average, sell-side analysts predict that Carlyle Secured Lending will post 1.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning grew its position in Carlyle Secured Lending by 0.9% during the second quarter. Creative Planning now owns 4,916,335 shares of the company’s stock worth $67,255,000 after buying an additional 44,062 shares in the last quarter. Rivernorth Capital Management LLC raised its position in shares of Carlyle Secured Lending by 58.2% in the 4th quarter. Rivernorth Capital Management LLC now owns 1,900,728 shares of the company’s stock valued at $23,740,000 after buying an additional 699,586 shares in the last quarter. Choreo LLC bought a new position in Carlyle Secured Lending in the second quarter valued at approximately $20,529,000. North Ground Capital lifted its stake in Carlyle Secured Lending by 91.6% during the fourth quarter. North Ground Capital now owns 912,220 shares of the company’s stock worth $11,394,000 after purchasing an additional 436,086 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Carlyle Secured Lending by 15.6% in the third quarter. Invesco Ltd. now owns 901,237 shares of the company’s stock valued at $11,265,000 after buying an additional 121,651 shares in the last quarter. 24.51% of the stock is owned by institutional investors and hedge funds.

Carlyle Secured Lending Company Profile

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.