Carlyle Secured Lending (NASDAQ:CGBD) Upgraded by JPMorgan Chase & Co. to Neutral Rating

Key Points

• Carlyle Secured Lending's stock (NASDAQ:CGBD) was upgraded by JPMorgan Chase & Co. from an "underweight" to a "neutral" rating, with a revised price target of $12.50, down from $13.50.
• Market analysts have mixed ratings on the stock, indicating one Buy rating, four Holds, and one Sell, with a consensus target price of $14.80.
• The company reported $0.39 earnings per share for the last quarter, matching analysts' expectations, while total revenue fell slightly short of projections at $67.28 million.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) was upgraded by equities research analysts at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a report issued on Wednesday,Benzinga reports. The firm presently has a $12.50 price objective on the stock, down from their previous price objective of $13.50.

A number of other analysts have also recently commented on the company. Raymond James Financial assumed coverage on Carlyle Secured Lending in a research report on Thursday, July 17th. They set a "market perform" rating on the stock. B. Riley reaffirmed a "neutral" rating and set a $14.50 price target (up previously from $14.00) on shares of Carlyle Secured Lending in a research report on Monday, August 11th. Finally, Wells Fargo & Company raised Carlyle Secured Lending from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $13.00 to $15.00 in a research report on Friday, July 25th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.80.

Carlyle Secured Lending Price Performance

Shares of NASDAQ CGBD opened at $12.50 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.73 and a current ratio of 0.73. Carlyle Secured Lending has a fifty-two week low of $12.38 and a fifty-two week high of $18.64. The stock's 50-day simple moving average is $13.66 and its 200-day simple moving average is $14.19. The firm has a market capitalization of $636.96 million, a PE ratio of 10.42 and a beta of 0.88.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.39 earnings per share for the quarter, hitting analysts' consensus estimates of $0.39. Carlyle Secured Lending had a net margin of 29.71% and a return on equity of 9.85%. The company had revenue of $67.28 million for the quarter, compared to analysts' expectations of $67.53 million. As a group, equities research analysts forecast that Carlyle Secured Lending will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Thomas M. Hennigan bought 7,285 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $13.75 per share, with a total value of $100,168.75. Following the completion of the acquisition, the chief financial officer owned 88,495 shares in the company, valued at approximately $1,216,806.25. This trade represents a 8.97% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John G. Nestor sold 13,238 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $13.49, for a total value of $178,580.62. Following the completion of the transaction, the director directly owned 14,593 shares in the company, valued at approximately $196,859.57. The trade was a 47.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CGBD. Prime Capital Investment Advisors LLC acquired a new position in shares of Carlyle Secured Lending during the second quarter worth about $30,158,000. Choreo LLC acquired a new position in Carlyle Secured Lending during the 2nd quarter worth approximately $20,529,000. Cliffwater LLC acquired a new position in Carlyle Secured Lending during the 2nd quarter worth approximately $7,505,000. Kingstone Capital Partners Texas LLC acquired a new position in Carlyle Secured Lending during the 2nd quarter worth approximately $5,717,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its holdings in Carlyle Secured Lending by 9,270.5% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 219,176 shares of the company's stock worth $2,998,000 after acquiring an additional 216,837 shares during the period. 24.51% of the stock is currently owned by institutional investors and hedge funds.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector.

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