Carlyle Secured Lending (NASDAQ:CGBD) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Key Points

• Carlyle Secured Lending beat quarterly expectations: EPS was $0.35 versus the $0.32 consensus estimate, while revenue of $62.09 million exceeded expectations of $59.43 million.
• Shares rose 3.7% to $10.66 following the results, though the stock remains below its 52-week high of $14.03 and has a consensus analyst rating of “Hold” with an average price target of $12.50.
• Institutional investors and hedge funds own 24.51% of the company, with several firms recently increasing or initiating positions in Carlyle Secured Lending.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) released its earnings results on Thursday. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03, Zacks reports. The business had revenue of $62.09 million during the quarter, compared to analysts' expectations of $59.43 million. Carlyle Secured Lending had a return on equity of 8.99% and a net margin of 19.52%.

Carlyle Secured Lending Stock Up 3.7%

Shares of NASDAQ:CGBD traded up $0.38 during trading on Thursday, reaching $10.66. 500,818 shares of the stock were exchanged, compared to its average volume of 585,956. Carlyle Secured Lending has a 1-year low of $9.94 and a 1-year high of $14.03. The stock has a fifty day moving average of $10.60 and a two-hundred day moving average of $11.17. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.72 and a quick ratio of 1.72. The firm has a market cap of $740.87 million, a price-to-earnings ratio of 15.01 and a beta of 0.62.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CGBD. Wells Fargo & Company cut their price target on Carlyle Secured Lending from $13.00 to $12.00 and set an "overweight" rating on the stock in a report on Wednesday, May 13th. B. Riley Financial reiterated a "buy" rating on shares of Carlyle Secured Lending in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $12.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its position in shares of Carlyle Secured Lending by 71.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company's stock worth $36,000 after acquiring an additional 1,100 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Carlyle Secured Lending in the fourth quarter worth approximately $47,000. Tower Research Capital LLC TRC raised its stake in shares of Carlyle Secured Lending by 1,011.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,313 shares of the company's stock worth $59,000 after purchasing an additional 3,925 shares during the last quarter. Equitable Holdings Inc. bought a new position in shares of Carlyle Secured Lending in the third quarter valued at approximately $134,000. Finally, Advisory Research Inc. lifted its holdings in shares of Carlyle Secured Lending by 9.2% in the third quarter. Advisory Research Inc. now owns 11,340 shares of the company's stock valued at $142,000 after purchasing an additional 953 shares in the last quarter. Institutional investors and hedge funds own 24.51% of the company's stock.

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.

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