Brokerages Set Carlyle Secured Lending, Inc. (NASDAQ:CGBD) Price Target at $15.10

Key Points

• Carlyle Secured Lending, Inc. (NASDAQ:CGBD) has received a consensus recommendation of "Reduce" from analysts, with predictions indicating an average 12-month target price of $15.10.
• Insider transactions included Director John G. Nestor selling 13,238 shares while CFO Thomas M. Hennigan purchased 7,285 shares, reflecting varied confidence in the company's stock.
• The company recently announced a quarterly dividend of $0.40 per share, amounting to an annual yield of 11.6%, amidst a net margin of 29.71% and a return on equity of 9.85% for the last quarter.

Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Get Free Report) has received a consensus recommendation of "Reduce" from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Two 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 twelve-month price objective among brokers that have issued a report on the stock in the last year is $15.10.

Several analysts have issued reports on CGBD shares. Wells Fargo & Company raised shares of Carlyle Secured Lending from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $13.00 to $15.00 in a report on Friday, July 25th. Raymond James Financial started coverage on shares of Carlyle Secured Lending in a research note on Thursday, July 17th. They set a "market perform" rating on the stock. Finally, B. Riley reissued 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 NASDAQ CGBD traded down $0.05 on Friday, hitting $13.66. The company's stock had a trading volume of 56,651 shares, compared to its average volume of 352,495. Carlyle Secured Lending has a 12-month low of $13.12 and a 12-month high of $18.64. The company has a market capitalization of $695.82 million, a price-to-earnings ratio of 11.38 and a beta of 0.88. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a 50 day moving average of $13.87 and a 200-day moving average of $14.61.

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

Carlyle Secured Lending Announces Dividend

The firm also recently announced 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. This represents a $1.60 annualized dividend and a yield of 11.7%. The ex-dividend date is Tuesday, September 30th. Carlyle Secured Lending's dividend payout ratio is presently 133.33%.

Insider Buying and Selling at Carlyle Secured Lending

In related news, Director John G. Nestor sold 13,238 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $13.49, for a total value of $178,580.62. Following the completion of the transaction, the director directly owned 14,593 shares in the company, valued at approximately $196,859.57. This represents a 47.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas M. Hennigan bought 7,285 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average price of $13.75 per share, with a total value of $100,168.75. Following the completion of the purchase, the chief financial officer directly owned 88,495 shares of the company's stock, valued at approximately $1,216,806.25. The trade was a 8.97% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.61% of the company's stock.

Hedge Funds Weigh In On Carlyle Secured Lending

A number of large investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co raised its stake in Carlyle Secured Lending by 4.6% during the second quarter. CANADA LIFE ASSURANCE Co now owns 45,932 shares of the company's stock worth $629,000 after purchasing an additional 2,040 shares during the period. Tower Research Capital LLC TRC raised its stake in Carlyle Secured Lending by 1,011.6% during the second quarter. Tower Research Capital LLC TRC now owns 4,313 shares of the company's stock worth $59,000 after purchasing an additional 3,925 shares during the period. Corient Private Wealth LLC purchased a new position in Carlyle Secured Lending during the second quarter worth approximately $2,289,000. Northeast Financial Consultants Inc raised its stake in Carlyle Secured Lending by 139.0% during the second quarter. Northeast Financial Consultants Inc now owns 102,219 shares of the company's stock worth $1,398,000 after purchasing an additional 59,449 shares during the period. Finally, Oxford Asset Management LLP purchased a new position in Carlyle Secured Lending during the second quarter worth approximately $509,000. Hedge funds and other institutional investors 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.