Carlyle Secured Lending (NASDAQ:CGBD) Cut to Underperform at Bank of America

Bank of America lowered shares of Carlyle Secured Lending (NASDAQ:CGBD) from a buy rating to an underperform rating in a research report released on Monday morning, MarketBeat Ratings reports. The brokerage currently has $17.00 target price on the stock.

Several other brokerages also recently issued reports on CGBD. JPMorgan Chase & Co. increased their price objective on Carlyle Secured Lending from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company increased their price objective on Carlyle Secured Lending from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th.

Carlyle Secured Lending Stock Down 1.2 %

Shares of Carlyle Secured Lending stock opened at $17.32 on Monday. The stock has a 50-day moving average price of $18.05 and a 200 day moving average price of $17.34. The company has a market cap of $881.76 million, a P/E ratio of 9.68 and a beta of 1.57. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.99. Carlyle Secured Lending has a 1 year low of $14.78 and a 1 year high of $18.74.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its holdings in shares of Carlyle Secured Lending by 1,597.0% during the 3rd quarter. International Assets Investment Management LLC now owns 307,581 shares of the company’s stock valued at $52,200,000 after acquiring an additional 289,456 shares during the last quarter. Condor Capital Management increased its holdings in shares of Carlyle Secured Lending by 8.3% during the 4th quarter. Condor Capital Management now owns 266,836 shares of the company’s stock valued at $4,784,000 after acquiring an additional 20,344 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Carlyle Secured Lending by 7.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 265,982 shares of the company’s stock valued at $4,514,000 after buying an additional 17,434 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in Carlyle Secured Lending in the 4th quarter valued at approximately $4,093,000. Finally, Raymond James Financial Inc. acquired a new stake in Carlyle Secured Lending in the 4th quarter valued at approximately $3,223,000. Institutional investors and hedge funds own 24.51% of the company’s stock.

About Carlyle Secured Lending

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.