Carlyle Secured Lending (NASDAQ:CGBD) Sets New 1-Year Low - Here's Why

Key Points

• Carlyle Secured Lending's stock has reached a new 52-week low of $12.25 amidst trading, down from a previous close of $12.50.
• Several analysts have recently updated their ratings on CGBD, with a consensus price target of $14.80, reflecting mixed sentiments regarding the stock's future performance.
• The company declared a quarterly dividend of $0.40 per share, with a significant annualized yield of 13.0% due to a high dividend payout ratio of 133.33%.

Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $12.27 and last traded at $12.25, with a volume of 658801 shares trading hands. The stock had previously closed at $12.50.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CGBD. B. Riley reaffirmed a "neutral" rating and set a $14.50 price objective (up previously from $14.00) on shares of Carlyle Secured Lending in a report on Monday, August 11th. JPMorgan Chase & Co. upgraded Carlyle Secured Lending from an "underweight" rating to a "neutral" rating and cut their price objective for the company from $13.50 to $12.50 in a research report on Wednesday, October 1st. Wells Fargo & Company upgraded Carlyle Secured Lending from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $13.00 to $15.00 in a report on Friday, July 25th. Finally, Raymond James Financial assumed coverage on Carlyle Secured Lending in a research note on Thursday, July 17th. They issued a "market perform" rating for the company. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $14.80.

Carlyle Secured Lending Stock Performance

The company's fifty day simple moving average is $13.54 and its 200 day simple moving average is $14.05. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $625.28 million, a price-to-earnings ratio of 10.23 and a beta of 0.89.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.39 earnings per share for the quarter, hitting analysts' consensus estimates of $0.39. The company had revenue of $67.28 million for the quarter, compared to analyst estimates of $67.53 million. Carlyle Secured Lending had a return on equity of 9.85% and a net margin of 29.71%. On average, equities research analysts expect that Carlyle Secured Lending, Inc. will post 1.97 earnings per share for the current year.

Carlyle Secured Lending Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Tuesday, September 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 13.0%. Carlyle Secured Lending's dividend payout ratio is currently 133.33%.

Insiders Place Their Bets

In other Carlyle Secured Lending news, Director John G. Nestor sold 13,238 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $13.49, for a total value of $178,580.62. Following the transaction, the director directly owned 14,593 shares of the company's stock, valued at $196,859.57. This trade represents a 47.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas M. Hennigan purchased 7,285 shares of Carlyle Secured Lending stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average price of $13.75 per share, for a total transaction of $100,168.75. Following the transaction, the chief financial officer directly owned 88,495 shares in the company, valued at $1,216,806.25. This represents a 8.97% increase in their position. The disclosure for this purchase can be found here. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carlyle Secured Lending

A number of institutional investors have recently modified their holdings of CGBD. Round Rock Advisors LLC grew its holdings in Carlyle Secured Lending by 146.6% during the 1st quarter. Round Rock Advisors LLC now owns 45,800 shares of the company's stock worth $741,000 after acquiring an additional 27,230 shares during the period. LPL Financial LLC lifted its stake in Carlyle Secured Lending by 33.2% in the first quarter. LPL Financial LLC now owns 82,458 shares of the company's stock valued at $1,334,000 after buying an additional 20,549 shares during the period. Ieq Capital LLC bought a new position in shares of Carlyle Secured Lending during the 1st quarter worth approximately $585,000. Mackenzie Financial Corp acquired a new stake in shares of Carlyle Secured Lending during the 1st quarter worth approximately $406,000. Finally, Cetera Investment Advisers lifted its position in shares of Carlyle Secured Lending by 28.3% during the 1st quarter. Cetera Investment Advisers now owns 58,195 shares of the company's stock valued at $942,000 after acquiring an additional 12,843 shares during the period. Institutional investors and hedge funds own 24.51% of the company's stock.

Carlyle Secured Lending Company Profile

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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