Carlyle Secured Lending (NASDAQ:CGBD) Downgraded by Wells Fargo & Company to "Hold"

Key Points

• Wells Fargo downgraded Carlyle Secured Lending from “strong buy” to “hold” and set an $11.00 price target, implying approximately 0.9% downside from the reported $11.10 share price.
• CGBD shares have traded near $11, with a 52-week range of $9.94 to $13.28. The company has a market capitalization of about $763.7 million and a beta of 0.64.
• Several institutional investors recently increased or initiated positions, and institutional ownership stands at 24.51%. Carlyle Secured Lending is a business development company focused primarily on senior secured loans to U.S. middle-market businesses.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) was downgraded by analysts at Wells Fargo & Company from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday, MarketBeat Ratings reports. They currently have a $11.00 price target on the stock. Wells Fargo & Company's price objective suggests a potential downside of 0.90% from the company's current price.

Carlyle Secured Lending Price Performance

CGBD stock opened at $11.10 on Tuesday. The firm has a 50 day moving average price of $11.12 and a 200-day moving average price of $11.05. Carlyle Secured Lending has a 52-week low of $9.94 and a 52-week high of $13.28. The firm has a market capitalization of $763.74 million, a price-to-earnings ratio of 21.77 and a beta of 0.64. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.79 and a current ratio of 0.79.

Hedge Funds Weigh In On Carlyle Secured Lending

Hedge funds have recently bought and sold shares of the company. Compass Financial Management LLC purchased a new stake in Carlyle Secured Lending during the 2nd quarter valued at about $464,000. Van ECK Associates Corp raised its holdings in 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 worth $18,415,000 after buying an additional 436,365 shares during the last quarter. Glenview Trust Co bought a new position in shares of Carlyle Secured Lending in the second quarter worth approximately $147,000. Almitas Capital LLC bought a new position in shares of Carlyle Secured Lending in the second quarter worth approximately $452,000. Finally, Corient Private Wealth LP purchased a new stake in shares of Carlyle Secured Lending during the second quarter valued at approximately $1,921,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.