Rivernorth Capital Management LLC Lowers Stock Position in Carlyle Secured Lending, Inc. $CGBD

Key Points

• Rivernorth Capital Management cut its Carlyle Secured Lending stake by 33.1% in the first quarter, selling 628,221 shares and retaining 1.27 million shares valued at approximately $13.9 million.
• Analyst sentiment remains mixed: Wells Fargo reduced its price target to $12 while maintaining an “overweight” rating, and the broader consensus rating is “Hold” with an average target of $12.50.
• CGBD shares opened at $10.34, near their 52-week low, while the company reported quarterly EPS of $0.36—slightly above estimates—but revenue of $64.08 million fell short of expectations.

Rivernorth Capital Management LLC lessened its stake in shares of Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Free Report) by 33.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,272,507 shares of the company's stock after selling 628,221 shares during the quarter. Rivernorth Capital Management LLC owned approximately 1.83% of Carlyle Secured Lending worth $13,921,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CGBD. Northwestern Mutual Wealth Management Co. grew its position in shares of Carlyle Secured Lending by 71.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company's stock worth $36,000 after buying an additional 1,100 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Carlyle Secured Lending during the 4th quarter valued at $47,000. Tower Research Capital LLC TRC grew its stake in Carlyle Secured Lending by 1,011.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,313 shares of the company's stock worth $59,000 after buying an additional 3,925 shares during the last quarter. Beaumont Financial Advisors LLC acquired a new position in Carlyle Secured Lending during the 1st quarter valued at about $110,000. Finally, SG Americas Securities LLC acquired a new stake in Carlyle Secured Lending in the fourth quarter worth about $112,000. 24.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Carlyle Secured Lending Trading Up 1.3%

NASDAQ CGBD opened at $10.34 on Wednesday. Carlyle Secured Lending, Inc. has a 1 year low of $9.98 and a 1 year high of $14.25. 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 company has a market capitalization of $718.63 million, a PE ratio of 14.56 and a beta of 0.62. The company has a fifty day moving average of $10.67 and a 200 day moving average of $11.29.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. The business had revenue of $64.08 million during the quarter, compared to analyst estimates of $65.78 million. Carlyle Secured Lending had a return on equity of 8.99% and a net margin of 19.52%. Research analysts forecast that Carlyle Secured Lending, Inc. will post 1.35 earnings per share for the current year.

Carlyle Secured Lending 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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