Carlyle Secured Lending (NASDAQ:CGBD) Sets New 52-Week Low - Here's Why

Key Points

• Shares of Carlyle Secured Lending (NASDAQ:CGBD) hit a new 52-week low, trading as low as $13.08, indicating a volatility in market sentiment.
• Wells Fargo upgraded CGBD from an "equal weight" to an "overweight" rating, raising its target price to $15.00, while the average target price is currently $15.10.
• The company announced a quarterly dividend of $0.40, yielding 12.3%, although its payout ratio is notably high at 133.33%.

Shares of Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $13.08 and last traded at $13.10, with a volume of 70651 shares changing hands. The stock had previously closed at $13.25.

Wall Street Analyst Weigh In

CGBD has been the topic of a number of research analyst reports. Wells Fargo & Company raised Carlyle Secured Lending from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $13.00 to $15.00 in a report on Friday, July 25th. Raymond James Financial initiated coverage on Carlyle Secured Lending in a report on Thursday, July 17th. They issued a "market perform" rating on the stock. Finally, B. Riley reaffirmed a "neutral" rating and issued a $14.50 target price (up previously from $14.00) on shares of Carlyle Secured Lending in a report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $15.10.

Carlyle Secured Lending Trading Down 1.7%

The company has a 50 day moving average of $13.77 and a 200 day moving average of $14.33. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.09. The firm has a market cap of $663.50 million, a price-to-earnings ratio of 10.86 and a beta of 0.88.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) last posted 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 analyst estimates 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, Inc. will post 1.97 EPS for the current year.

Carlyle Secured Lending Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th will be paid a $0.40 dividend. 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 12.3%. Carlyle Secured Lending's 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 business'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 transaction, the director owned 14,593 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas M. Hennigan acquired 7,285 shares of Carlyle Secured Lending stock in a transaction on Wednesday, August 20th. The stock was acquired at an average cost 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. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Carlyle Secured Lending

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Carlyle Secured Lending by 71.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company's stock worth $36,000 after acquiring an additional 1,100 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Carlyle Secured Lending by 17.1% during the first quarter. Sunbelt Securities Inc. now owns 10,297 shares of the company's stock worth $167,000 after acquiring an additional 1,500 shares during the last quarter. Quarry LP bought a new stake in shares of Carlyle Secured Lending during the first quarter worth $32,000. Triumph Capital Management increased its holdings in Carlyle Secured Lending by 5.1% in the first quarter. Triumph Capital Management now owns 41,631 shares of the company's stock valued at $674,000 after purchasing an additional 2,038 shares during the last quarter. Finally, 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 purchasing an additional 2,040 shares during the last quarter. Institutional investors 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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