Carlyle Secured Lending (NASDAQ:CGBD) Upgraded to Outperform at Raymond James Financial

Key Points

• Carlyle Secured Lending (NASDAQ:CGBD) was upgraded from "market perform" to "outperform" by Raymond James Financial, with a price target of $15.00, indicating a potential upside of 22.25% from its current value.
• The stock currently holds an average rating of "Hold" from analysts, with two ratings for Buy, three for Hold, and one for Sell, while the consensus price target is $14.83.
• In recent insider trading, CFO Thomas M. Hennigan acquired 7,285 shares, increasing his ownership, while Director John G. Nestor sold 13,238 shares, reducing his stake significantly.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) was upgraded by research analysts at Raymond James Financial from a "market perform" rating to an "outperform" rating in a research report issued on Tuesday,Finviz reports. The brokerage currently has a $15.00 price target on the stock. Raymond James Financial's price objective suggests a potential upside of 22.25% from the stock's current price.

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. raised Carlyle Secured Lending from an "underweight" rating to a "neutral" rating and cut their price target for the stock from $13.50 to $12.50 in a research note on Wednesday, October 1st. B. Riley reaffirmed a "neutral" rating and issued a $14.50 price target (up 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. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $14.83.

Carlyle Secured Lending Trading Down 1.8%

Shares of CGBD stock opened at $12.27 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. Carlyle Secured Lending has a fifty-two week low of $12.21 and a fifty-two week high of $18.64. The stock has a market capitalization of $625.24 million, a P/E ratio of 10.23 and a beta of 0.89. The stock has a 50-day simple moving average of $13.54 and a 200 day simple moving average of $14.05.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.39 earnings per share for the quarter, meeting analysts' consensus estimates of $0.39. Carlyle Secured Lending had a return on equity of 9.85% and a net margin of 29.71%.The business had revenue of $67.28 million during the quarter, compared to analyst estimates of $67.53 million. On average, sell-side analysts expect that Carlyle Secured Lending will post 1.97 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Carlyle Secured Lending

A number of hedge funds have recently made changes to their positions in CGBD. Round Rock Advisors LLC increased its stake in Carlyle Secured Lending by 146.6% during the 1st quarter. Round Rock Advisors LLC now owns 45,800 shares of the company's stock worth $741,000 after acquiring an additional 27,230 shares during the period. LPL Financial LLC boosted its holdings in shares of Carlyle Secured Lending by 33.2% during the 1st quarter. LPL Financial LLC now owns 82,458 shares of the company's stock valued at $1,334,000 after acquiring an additional 20,549 shares in the last quarter. Ieq Capital LLC acquired a new stake in shares of Carlyle Secured Lending during the 1st quarter valued at $585,000. Mackenzie Financial Corp acquired a new position in Carlyle Secured Lending during the 1st quarter worth about $406,000. Finally, Cetera Investment Advisers lifted its holdings in Carlyle Secured Lending by 28.3% during the 1st quarter. Cetera Investment Advisers now owns 58,195 shares of the company's stock worth $942,000 after buying an additional 12,843 shares during the period. 24.51% of the stock is 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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