Carlyle Secured Lending, Inc. (NASDAQ:CGBD) Given Average Recommendation of "Reduce" by Analysts

Key Points

• Carlyle Secured Lending, Inc. (NASDAQ:CGBD) has received an average analyst recommendation of "Reduce," with two sell ratings, three hold ratings, and one buy rating from six brokerages.
• The company recently declared a quarterly dividend of $0.40, translating to an annualized dividend of $1.60 and a yield of 12.3%, despite a payout ratio of 133.33%.
• Wells Fargo upgraded the stock from "equal weight" to "overweight," raising its price target from $13.00 to $15.00, reflecting potential positive sentiment among some analysts.

Shares of Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Get Free Report) have been given an average rating of "Reduce" by the six brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $15.10.

A number of research analysts have commented on CGBD shares. Wells Fargo & Company upgraded Carlyle Secured Lending from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $13.00 to $15.00 in a research note on Friday, July 25th. Raymond James Financial started coverage on Carlyle Secured Lending in a research note on Thursday, July 17th. They set a "market perform" rating on the stock. Finally, B. Riley restated a "neutral" rating and set a $14.50 price objective (up previously from $14.00) on shares of Carlyle Secured Lending in a research note on Monday, August 11th.

Carlyle Secured Lending Price Performance

Shares of Carlyle Secured Lending stock opened at $12.96 on Tuesday. The business's fifty day moving average price is $13.69 and its 200 day moving average price is $14.21. The stock has a market capitalization of $660.44 million, a P/E ratio of 10.80 and a beta of 0.88. Carlyle Secured Lending has a twelve month low of $12.82 and a twelve month high of $18.64. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.09.

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

Carlyle Secured Lending Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Tuesday, September 30th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 12.3%. Carlyle Secured Lending's payout ratio is 133.33%.

Insider Activity

In related news, Director John G. Nestor sold 13,238 shares of the business'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 owned 14,593 shares in the company, valued at approximately $196,859.57. The trade was a 47.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Thomas M. Hennigan purchased 7,285 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average price of $13.75 per share, for a total transaction of $100,168.75. Following the purchase, the chief financial officer owned 88,495 shares of the company's stock, valued at approximately $1,216,806.25. This represents a 8.97% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.61% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CGBD. Corient Private Wealth LLC bought a new stake in Carlyle Secured Lending in the second quarter valued at about $2,289,000. CANADA LIFE ASSURANCE Co increased its holdings in Carlyle Secured Lending by 4.6% in the second quarter. CANADA LIFE ASSURANCE Co now owns 45,932 shares of the company's stock valued at $629,000 after buying an additional 2,040 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Carlyle Secured Lending by 1,011.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,313 shares of the company's stock valued at $59,000 after buying an additional 3,925 shares during the last quarter. Northeast Financial Consultants Inc increased its holdings in Carlyle Secured Lending by 139.0% in the second quarter. Northeast Financial Consultants Inc now owns 102,219 shares of the company's stock valued at $1,398,000 after buying an additional 59,449 shares during the last quarter. Finally, Oxford Asset Management LLP bought a new stake in Carlyle Secured Lending in the second quarter valued at about $509,000. 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.

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