Carlyle Secured Lending (NASDAQ:CGBD) Stock Lifted to Strong-Buy by Zacks Research

Key Points

• Zacks Research upgraded Carlyle Secured Lending to “strong buy” from “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $11.33.
• CGBD shares opened at $10.48, down 0.5%, with a market capitalization of approximately $721 million and a 12-month trading range of $9.94 to $13.28.
• Institutional ownership stands at 24.51%, with several investors increasing or initiating positions, including Van ECK Associates, which added 436,365 shares.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Monday, Zacks reports.

Separately, Wells Fargo & Company reiterated an "equal weight" rating and set a $11.00 price target (down from $12.00) on shares of Carlyle Secured Lending in a research report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $11.33.

Carlyle Secured Lending Stock Down 0.5%

Shares of CGBD opened at $10.48 on Monday. The firm has a market cap of $721.13 million, a P/E ratio of 20.55 and a beta of 0.66. Carlyle Secured Lending has a 12-month low of $9.94 and a 12-month high of $13.28. The company's 50-day moving average price is $11.19 and its 200 day moving average price is $11.01. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.20.

Institutional Investors Weigh In On Carlyle Secured Lending

A number of institutional investors have recently modified their holdings of the company. Prosperity Planning Inc. purchased a new stake in shares of Carlyle Secured Lending in the 3rd quarter valued at $195,000. Farther Finance Advisors LLC boosted its holdings in Carlyle Secured Lending by 36.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 48,983 shares of the company's stock valued at $524,000 after acquiring an additional 13,005 shares during the period. Compass Financial Management LLC purchased a new position in Carlyle Secured Lending during the 2nd quarter valued at about $464,000. Van ECK Associates Corp grew its position in Carlyle Secured Lending by 33.2% in the 2nd quarter. Van ECK Associates Corp now owns 1,748,836 shares of the company's stock valued at $18,415,000 after acquiring an additional 436,365 shares in the last quarter. Finally, Glenview Trust Co acquired a new position in Carlyle Secured Lending in the 2nd quarter valued at about $147,000. 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 business development company that provides financing to middle-market companies, primarily in the United States. The company is externally managed by Carlyle GMS Investment Management LLC, an affiliate of global investment firm The Carlyle Group.

Carlyle Secured Lending invests primarily in senior secured loans, including first-lien and unitranche loans, and may also invest in second-lien debt and equity securities. Its portfolio companies generally operate across a range of industries and are typically privately owned businesses that require capital for acquisitions, growth initiatives, recapitalizations, refinancing and other corporate purposes.

The company traces its origins to TCG BDC, Inc, which began operations in 2012 and later adopted the Carlyle Secured Lending name.

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