JPMorgan Chase & Co. cut shares of Carlyle Secured Lending (NASDAQ:CGBD – Get Rating) from an overweight rating to a neutral rating in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have $14.50 price target on the stock.
Separately, Wells Fargo & Company boosted their price target on shares of Carlyle Secured Lending from $13.00 to $13.50 and gave the stock an equal weight rating in a research note on Thursday, August 11th.
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Carlyle Secured Lending Trading Down 3.5 %
Shares of CGBD stock opened at $13.73 on Tuesday. The company's 50-day moving average price is $13.59 and its 200-day moving average price is $13.97. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The stock has a market cap of $711.96 million, a price-to-earnings ratio of 6.93 and a beta of 1.62. Carlyle Secured Lending has a twelve month low of $12.14 and a twelve month high of $14.96.
Carlyle Secured Lending Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.40 dividend. This is a boost from Carlyle Secured Lending's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.60 annualized dividend and a yield of 11.65%. Carlyle Secured Lending's dividend payout ratio is presently 64.65%.
Insider Activity
In other news, CFO Thomas M. Hennigan purchased 2,975 shares of the company's stock in a transaction dated Wednesday, August 17th. The stock was acquired at an average price of $14.30 per share, for a total transaction of $42,542.50. Following the completion of the transaction, the chief financial officer now directly owns 65,255 shares in the company, valued at approximately $933,146.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.56% of the company's stock.
Institutional Trading of Carlyle Secured Lending
A number of large investors have recently made changes to their positions in CGBD. Point72 Hong Kong Ltd acquired a new stake in Carlyle Secured Lending in the 2nd quarter worth about $32,000. Allworth Financial LP acquired a new stake in Carlyle Secured Lending in the 2nd quarter worth about $32,000. Lazard Asset Management LLC acquired a new stake in Carlyle Secured Lending in the 2nd quarter worth about $38,000. Welch & Forbes LLC acquired a new position in shares of Carlyle Secured Lending in the 1st quarter valued at about $174,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Carlyle Secured Lending in the 2nd quarter valued at about $157,000. Institutional investors and hedge funds own 22.34% of the company's stock.
Carlyle Secured Lending Company Profile
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TCG BDC, 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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